qualified timber property
Defined in 2 places of the United States Code.
The term “qualified timber property” has the meaning given such term in section 194(c)(1).
Source
- 2005–present26 U.S.C. § 1400NInternal Revenue Code · Tax benefits for Gulf Opportunity Zone · in this section
The term “qualified timber property” means a woodlot or other site located in the United States which will contain trees in significant commercial quantities and which is held by the taxpayer for the planting, cultivating, caring for, and cutting of trees for sale or use in the commercial production of timber products.
Source
- 1994–present26 U.S.C. § 194Internal Revenue Code · Treatment of reforestation expenditures · for purposes of this section