short-term lease
Defined in 2 places of the United States Code.
For purposes of clause (i), the term “short-term lease” means any lease the term of which is—
(I) less than 3 years, and
(II) less than the greater of 1 year or 30 percent of the property’s present class life.
Source
- 2013–present26 U.S.C. § 168Internal Revenue Code · Accelerated cost recovery system · for purposes of this section
For purposes of clause (i), the term "short-term lease" means any lease the term of which is—
(I) less than 3 years, and
(II) less than the greater of 1 year or 30 percent of the property's present class life.
In the case of nonresidential real property and property with no present class life, subclause (II) shall not apply.
Source
- 1994–202526 U.S.C. § 168Internal Revenue Code · Accelerated cost recovery system · for purposes of this section
The term “short-term lease” means a lease (or other agreement for occupancy or use) of retail space for 15 years or less (as determined under the rules of section 168(i)(3)).
Source
- 1997–present26 U.S.C. § 110Internal Revenue Code · Qualified lessee construction allowances for short-term leases · for purposes of this section