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MACRS (Modified Accelerated Cost Recovery System). The current method of tax depreciation introduced by the tax reform act of 1986 and effective for equipment placed in service after 1986.
MACRS Deductions. Tax depreciation deductions calculated under the MACRS introduced by the tax reform act of 1986.
Master Lease. A lease agreement that allows a lessee to obtain additional equipment under the same basic lease terms and conditions as originally agreed, without having to renegotiate a new lease contract.
Municipal Lease. A conditional sales contract disguised in the form of a lease available only to state and local governments, in which the interest earnings are
Tax-exempt to the lessor.
Net Lease. A lease in which the lessee assumes all the costs and expenses related to use and maintenance of the leased asset.
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