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By William E. Flowers, Esq.
Spring 1985

The article discusses the legal uncertainties encountered in leveraged leasing due to interpretations of changes in tax law over recent years. Specifically, the article examines Section 467 accrual accounting and even rent requirements; and also goes on to examine Section 7872 application, effects, and tax indemnity considerations; and Section 48(b)(2) definition of new Section 38 property.