N.Y. Comp. Codes R. & Regs. tit. 10 § 451.46
Current through Register Vol. 46, No. 45, November 2, 2024
An expenditure intended to benefit future periods, in contrast to a revenue expenditure, which benefits a current period; an addition to a capital asset. The term is generally restricted to expenditures that add fixed-asset units or that have the effect of increasing the capacity, efficiency, life span or economy of operation of an existing fixed asset.
N.Y. Comp. Codes R. & Regs. Tit. 10 § 451.46