Importance As economic sanctions toughen, industrial corporations and partially state-owned ones, in particular, face the need to effectively and reasonably utilize their internal sources of funding. It mainly depends on the depreciation strategy the State chooses and implements. Objectives As the main scientific idea, the research economically substantiates material benefits from various approaches to bonus depreciation assessment in the real circumstances of the contemporary tax laws of the Russian Federation. The research investigates the process how internal sources of finance are formed during reindustrialization of the domestic manufacturing sector. The research relies upon methodological approaches used to formulate depreciation policies, including methods and techniques for assessing material benefits from various scenarios of depreciation assessment in order to replenish internal sources of production development financing. Methods As the research novelty, we propose a financial mechanism for forming and replenishing internal sources of innovation financing. The mechanism is depicted as multilevel relations of objects, subjects, main principles, methodological approaches, methods and tools, including scenarios of articulating effective depreciation policies (strategy) of a separate corporation or group. Results We provide the definition of effective depreciation policies. As part of the policies, we present matrices and computations of depreciation accruals using bonus depreciation, linear and nonlinear depreciation methods. They indicate how bonus depreciation increases and tax deductions decreases. Conclusions and Relevance Illustrating industrial corporations and their operations, we prove that it is legitimate to secure minimum tax burden, on the one hand, and maximum economic benefit, on the other hand, within the scope of the current Russian tax laws. We recommend the approach for large industrial corporations to planning steps and activities for replenishing internal sources of innovation financing.
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