qualified production property

Defined in 1 dictionary — U.S. Code

United States Code

26 U.S.C. § 168 — for purposes of this section

The term “qualified production property” means that portion of any nonresidential real property—

(i) to which this section applies,

(ii) which is used by the taxpayer as an integral part of a qualified production activity,

(iii) which is placed in service in the United States or any possession of the United States,

(iv) the original use of which commences with the taxpayer,

(v) the construction of which begins after January 19, 2025, and before January 1, 2029,

(vi) which is designated by the taxpayer in the election made under this subsection, and

(vii) which is placed in service before January 1, 2031.