What is Economic Recovery Act (ERTA)?
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Passed in 1981, it was a revision of 1954 IRC. It was believed that private
sector would increase spending if taxes were sharply reduced
What is the Philadelphia Plan?
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The most well-known railroad finance plan considered to be the precursor
of today's conditional sales contract, equipment finance ageement and
money over money leases
What was IRA 55-540?
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Defined True Lease for tax purposes. 1) no equity 2) ownership doesn't pass
3) amount paid not significant portion of purchase price 4) rental payments
not significantly higher than FMV 5) no nominal purchase option 6) no
portion of payment characterized as interest
How dis independent leasing companies start?
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In early 1900, independents formed because they realized that many
railroad companies did not want long term ownership of assets. They
offered more short term leases with ownership going to the lessor at the
end. This was the beginning of the operating lease.
How did vendor leasing companies start?
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After WWII, mfg sought to expand. They turned to independent leasing
companies which were not related to the vendor or end user. This led to
Give this one a try later!
Passed in 1981, it was a revision of 1954 IRC. It was believed that private
sector would increase spending if taxes were sharply reduced
What is the Philadelphia Plan?
, Give this one a try later!
The most well-known railroad finance plan considered to be the precursor
of today's conditional sales contract, equipment finance ageement and
money over money leases
What was IRA 55-540?
Give this one a try later!
Defined True Lease for tax purposes. 1) no equity 2) ownership doesn't pass
3) amount paid not significant portion of purchase price 4) rental payments
not significantly higher than FMV 5) no nominal purchase option 6) no
portion of payment characterized as interest
How dis independent leasing companies start?
Give this one a try later!
In early 1900, independents formed because they realized that many
railroad companies did not want long term ownership of assets. They
offered more short term leases with ownership going to the lessor at the
end. This was the beginning of the operating lease.
How did vendor leasing companies start?
Give this one a try later!
After WWII, mfg sought to expand. They turned to independent leasing
companies which were not related to the vendor or end user. This led to
