qualified timber gain
Defined in 1 place of the United States Code.
For purposes of this section, the term “qualified timber gain” means, with respect to any taxpayer for any taxable year, the excess (if any) of—
(A) the sum of the taxpayer’s gains described in subsections (a) and (b) of section 631 for such year, over
(B) the sum of the taxpayer’s losses described in such subsections for such year.
Source
- 2013–present26 U.S.C. § 1201Internal Revenue Code · Alternative tax for corporations · for purposes of this section
For purposes of this section, the term "qualified timber gain" means, with respect to any taxpayer for any taxable year, the excess (if any) of—
(A) the sum of the taxpayer's gains described in subsections (a) and (b) of section 631 for such year, over
(B) the sum of the taxpayer's losses described in such subsections for such year.
For purposes of subparagraphs (A) and (B), only timber held more than 15 years shall be taken into account.
Source
- 2008–201526 U.S.C. § 1201Internal Revenue Code · Alternative tax for corporations · for purposes of this section
For purposes of this section, the term "qualified timber gain" means, with respect to any taxpayer for any taxable year, the excess (if any) of—
(A) the sum of the taxpayer's gains described in subsections (a) and (b) of section 631 for such year, over
(B) the sum of the taxpayer's losses described in such subsections for such year.
For purposes of subparagraphs (A) and (B), only timber held more than 15 years shall be taken into account.
For computation of the alternative tax—
Source
- 2015–201626 U.S.C. § 1201Internal Revenue Code · Alternative tax for corporations · for purposes of this section