26 U.S.C. § 1241 — Cancellation of lease or distributor’s agreement
submitted 72 years ago by ch. 736 to r/title-26-INTERNAL-REVENUE-CODE · 48 words · no verdicts yet
This section addresses cancellation of lease or distributor’s agreement. It states the rules, duties, permissions, procedures, limits, and exceptions provided in the section.
Amounts received by a lessee for the cancellation of a lease, or by a distributor of goods for the cancellation of a distributor’s agreement (if the distributor has a substantial capital investment in the distributorship), must be treated as as amounts received in exchange for such lease or agreement.
Amounts received by a lessee for the cancellation of a lease, or by a distributor of goods for the cancellation of a distributor’s agreement (if the distributor has a substantial capital investment in the distributorship), shall be considered as amounts received in exchange for such lease or agreement.
Source credit: (Aug. 16, 1954, ch. 736, 68A Stat. 333.)
- 1954Enacted · Act of Aug. 16, 1954, ch. 736
A history note hasn’t been published yet. The record shows enactment by ch. 736 on 1954-08-16.
all 0 arguments · sorted by: best
no arguments yet — make the first case