Extension of Lease

Act 2 of 1971, § 1103-C.1, under TAX REFORM CODE OF 1971.

Act 2 of 1971, § 1103-C.1

Section 1103-C.1. Extension of Lease.--In determining the term of a lease, it shall be presumed that a right or option to renew or extend a lease will be exercised if the rental charge to the lessee is fixed or if a method for calculating the rental charge is established.

(1103-C.1 added July 2, 1986, P.L.318, No.77)