lowest 3-month rate
Defined in 1 place of the United States Code.
For purposes of subparagraph (A), the term “lowest 3-month rate” means the lowest of the applicable Federal rates in effect for any month in the 3-calendar-month period ending with the 1st calendar month in which there is a binding contract in writing for such sale or exchange.
Source
- 1994–present26 U.S.C. § 1274Internal Revenue Code · Determination of issue price in the case of certain debt instruments issued for property · for purposes of this section