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  3. What is considered a capital asset?

What is considered a capital asset?

The Office of the State Controller defines capital assets as property such as land, land improvements, easements, buildings, equipment, works of art and historical treasures, and infrastructure, with a cost equal to or greater than $5,000, and a useful life of two or more years.

Read more:

Asset Management and Surplus Manual, Definition of Capital Asset

Updated on February 26, 2020

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