disqualified leaseback or long-term agreement
Defined in 1 place of the United States Code.
For purposes of this subsection, the term “disqualified leaseback or long-term agreement” means any section 467 rental agreement if—
(A) such agreement is part of a leaseback transaction or such agreement is for a term in excess of 75 percent of the statutory recovery period for the property, and
(B) a principal purpose for providing increasing rents under the agreement is the avoidance of tax imposed by this subtitle.
Source
- 1994–present26 U.S.C. § 467Internal Revenue Code · Certain payments for the use of property or services · for purposes of this title