Does the Internal Revenue Code require any specific provisions to be addressed in a 103 lease?
The code requires that a 103 lease contain a statement that a portion of the lease payments constitutes interest. It is not necessary to state what portion of the lease payments constitutes interest or to include an amortization schedule. Although not necessary, including an amortization schedule makes sense, especially if the government has the right to purchase the equipment during the lease term (as is sometimes stated in the request for bid).
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- Does the Internal Revenue Code require any specific provisions to be addressed in a 103 lease?
