lending and finance business
Defined in 1 place of the United States Code.
The term “lending and finance business” means a trade or business of—
(I) making loans,
(II) purchasing or discounting accounts receivable, notes, or installment obligations,
(III) engaging in rental and leasing of real and tangible personal property, including entering into leases and purchasing, servicing, and disposing of leases and leased assets,
(IV) rendering services or making facilities available in the ordinary course of a lending or finance business, and
(V) rendering services or making facilities available in connection with activities described in subclauses (I) through (IV) carried on by the corporation rendering services or making facilities available, or another corporation which is a member of the same affiliated group (as defined in section 1504 without regard to section 1504(b)(3)).
Source
- 2001–present26 U.S.C. § 6166Internal Revenue Code · Extension of time for payment of estate tax where estate consists largely of interest in closely held business · for purposes of this section