HAR § 18-235-110.7-01 — Definitions

For purposes of sections 18-235-110.7-01 to 18-235-110.7-22, unless otherwise stated: “ACRS” means the accelerated cost recovery system. “Credit” means the capital goods excise tax credit. “Department” means the department of taxation. “Director” means the director of taxation. “Eligible property” means new section 38 property or used section 38 property (as defined in sections 18-235-110.7-05 and 18-235-110.7-06, respectively). “I.R.C.” means the Internal Revenue Code of 1954, as amended, which includes the Internal Revenue Code of 1986, and the Internal Revenue Code of 1986, as amended. “Lease” is defined as it is for federal income tax purposes. For treatment, see section 18-235-110.7- 02(c). “Sale-leaseback” is defined as it is for federal income tax purposes. For treatment, see section 18-235- 110.7-02(c).