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The 90-Day ITC Window: Tailoring the Emperor\'s New Clause
By Barry S. Marks, Esq.
Summer 1984

The Tax Equity and Fiscal Responsibility Act of 1982 amended section 48(b) of the Internal Revenue Code to postpone the "originally placed in service" date for Investment Tax Credit (ITC) purposes for up to three months. The language seems to permit sale-leasebacks and other lease structures to vest ITC for new section 38 property in the lessor, even after equipment is used by the lessee. In this article, the author examines the pitfalls and benefits of various structures utilizing this 90-day window, with particular emphasis on multiple-item transactions and the role of the leasing company. An addendum to the article is included based upon the revisions made in the 1984 tax bill.

The 90-Day ITC Window: </span>Tailoring the Emperor\'s New Clause</span><br style=\"font-weight: bold;\" />By Barry S. Marks, Esq.</span><br style=\"font-weight: bold;\" />Summer 1984</span><br /><br />The Tax Equity and Fiscal Responsibility Act of 1982