ABC transaction
What does ABC transaction mean in American Law?
The definition of ABC transaction in the law of the United States, as defined by the lexicographer Arthur Leff in his legal dictionary is:
A term used in tax law to describe one method of financing a real property (especially oil and gas) investment. The aim of the game is to
substitute a lease for a mortgage such that the long term purchaser/investor realizes no taxable income during the life of the lease. The Internal Revenue Service has pretty much robbed the ABC transaction of its tax advantage.
Meaning of Abc Transaction
In this law dictionary, the legal term abc transaction is a kind of the Oil, Gas, Energy Law class.
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