qualified leasing group
Defined in 1 dictionary — U.S. Code
United States Code
26 U.S.C. § 465 — for purposes of this section (10 versions over time)
For purposes of this paragraph, the term “qualified leasing group” means a controlled group of corporations which, for the taxable year and each of the 2 immediately preceding taxable years, satisfied each of the following 3 requirements:
(i) During the entire year, the group had at least 3 full-time employees substantially all of the services of whom were services directly related to the equipment leasing activity of the qualified leasing members.
(ii) During the year, the qualified leasing members in the aggregate entered into at least 5 separate equipment leasing transactions.
(iii) During the year, the qualified leasing members in the aggregate had at least $1,000,000 in gross receipts from equipment leasing.