Carolina Products Inc. provides building control systems integrated with unitized switchgear into a single package. Our solutions are custom designed to help our clients meet or exceed their goals. Carolina Products Inc. specializes in identifying, developing, and implementing innovative strategies that save time and money.
Established In 1969
Through the years, Carolina Products, Inc. has consistently provided high quality products and services to our valued customers. Carolina Products holds five U.S. patents to attest to the unique and creative systems which they offer to a national and international marketplace.
Even the best solutions simply won’t be enough without the proper service to back it up. At the heart of every CPI solution is the experience and the service to see the project through. Since every project is different, the services that CPI offers for any given solution are determined with the same flexibility in mind.
In our opinion, the control panels you are installing that include a microprocessor are considered “qualified technological equipment” as defined in Internal Revenue Code Section 168(i)(2). Therefore, these panels should be depreciated using the Modified Accelerated Cost Recovery System (MACRS) method over a life of five years.
Those panels that do not include a microprocessor are also eligible for depreciation over a life of five years. A recent Tax Court ruling determined that part of the cost of primary and secondary electrical systems that carry the electrical load to a company’s equipment is Section 1245 personal property and not structural components. Therefore, these assets are eligible for a shorter life.
Elliot & Warren | Certified Public Accountants