tax-exempt use period
Defined in 1 place of the United States Code.
For purposes of subclause (I), the term “tax-exempt use period” means the period beginning with the taxable year in which the property described in subclause (I) is first used by the organization and ending with the close of the 15th taxable year following the last taxable year of the applicable recovery period of such property.
Source
- 1994–present26 U.S.C. § 168Internal Revenue Code · Accelerated cost recovery system · for purposes of this section