John Kerry: “Under current law, improvements made to rented retail property are depreciated over 15 years. Improvements made to owned…”

“Under current law, improvements made to rented retail property are depreciated over 15 years. Improvements made to owned property are depreciated over 39 years. The current tax treatment of improvements to retail property results in an inequity. There is no justification to treat these improvements differently for tax purposes based on whether the property is owned or rented. Unfortunately, this provision was not included in the small business tax package.”