Increase for interest. A reserve shall be increased each taxable year by an amount equal to the amount of interest which would have been earned dur- ing such taxable year on the opening balance of such reserve for such taxable year if such interest were computed— (i) at the Federal short-term rate or rates (determined under section 1274) in ef- fect, and (ii) by compounding semiannually.
Appears in 3 contracts
Samples: Rental Agreement, Lease Agreement, Rental Agreement
Increase for interest. A reserve shall be increased each taxable year by an amount equal to the amount of interest which would have been earned dur- ing such taxable year on the opening balance of such reserve for such taxable year if such interest were computed—
(i) at the Federal short-term rate or rates (determined under section 1274) in ef- fect, and
(ii) by compounding semiannually.dur-
Appears in 1 contract
Samples: Lease Agreement
