Sec. 1397C. Enterprise zone business defined TITLE 26, Subtitle A, CHAPTER 1, Subchapter U, PART III, Subpart D, Sec. 1397C. STATUTE (a) In general For purposes of this part, the term "enterprise zone business" means - (1) any qualified business entity, and (2) any qualified proprietorship. (b) Qualified business entity For purposes of this section, the term "qualified business entity" means, with respect to any taxable year, any corporation or partnership if for such year - (1) every trade or business of such entity is the active conduct of a qualified business within an empowerment zone, (2) at least 50 percent of the total gross income of such entity is derived from the active conduct of such business, (3) a substantial portion of the use of the tangible property of such entity (whether owned or leased) is within an empowerment zone, (4) a substantial portion of the intangible property of such entity is used in the active conduct of any such business, (5) a substantial portion of the services performed for such entity by its employees are performed in an empowerment zone, (6) at least 35 percent of its employees are residents of an empowerment zone, (7) less than 5 percent of the average of the aggregate unadjusted bases of the property of such entity is attributable to collectibles (as defined in section 408(m)(2)) other than collectibles that are held primarily for sale to customers in the ordinary course of such business, and (8) less than 5 percent of the average of the aggregate unadjusted bases of the property of such entity is attributable to nonqualified financial property. (c) Qualified proprietorship For purposes of this section, the term "qualified proprietorship" means, with respect to any taxable year, any qualified business carried on by an individual as a proprietorship if for such year - (1) at least 50 percent of the total gross income of such individual from such business is derived from the active conduct of such business in an empowerment zone, (2) a substantial portion of the use of the tangible property of such individual in such business (whether owned or leased) is within an empowerment zone, (3) a substantial portion of the intangible property of such business is used in the active conduct of such business, (4) a substantial portion of the services performed for such individual in such business by employees of such business are performed in an empowerment zone, (5) at least 35 percent of such employees are residents of an empowerment zone, (6) less than 5 percent of the average of the aggregate unadjusted bases of the property of such individual which is used in such business is attributable to collectibles (as defined in section 408(m)(2)) other than collectibles that are held primarily for sale to customers in the ordinary course of such business, and (7) less than 5 percent of the average of the aggregate unadjusted bases of the property of such individual which is used in such business is attributable to nonqualified financial property. For purposes of this subsection, the term "employee" includes the proprietor. Sec. 1397C. Enterprise zone business defined TITLE 26, Subtitle A, CHAPTER 1, Subchapter U, PART III, Subpart D, Sec. 1397C. STATUTE (a) In general For purposes of this part, the term "enterprise zone business" means - (1) any qualified business entity, and (2) any qualified proprietorship. (b) Qualified business entity For purposes of this section, the term "qualified business entity" means, with respect to any taxable year, any corporation or partnership if for such year - (1) every trade or business of such entity is the active conduct of a qualified business within an empowerment zone, (2) at least 50 percent of the total gross income of such entity is derived from the active conduct of such business, (3) a substantial portion of the use of the tangible property of such entity (whether owned or leased) is within an empowerment zone, (4) a substantial portion of the intangible property of such entity is used in the active conduct of any such business, (5) a substantial portion of the services performed for such entity by its employees are performed in an empowerment zone, (6) at least 35 percent of its employees are residents of an empowerment zone, (7) less than 5 percent of the average of the aggregate unadjusted bases of the property of such entity is attributable to collectibles (as defined in section 408(m)(2)) other than collectibles that are held primarily for sale to customers in the ordinary course of such business, and (8) less than 5 percent of the average of the aggregate unadjusted bases of the property of such entity is attributable to nonqualified financial property. (c) Qualified proprietorship For purposes of this section, the term "qualified proprietorship" means, with respect to any taxable year, any qualified business carried on by an individual as a proprietorship if for such year - (1) at least 50 percent of the total gross income of such individual from such business is derived from the active conduct of such business in an empowerment zone, (2) a substantial portion of the use of the tangible property of such individual in such business (whether owned or leased) is within an empowerment zone, (3) a substantial portion of the intangible property of such business is used in the active conduct of such business, (4) a substantial portion of the services performed for such individual in such business by employees of such business are performed in an empowerment zone, (5) at least 35 percent of such employees are residents of an empowerment zone, (6) less than 5 percent of the average of the aggregate unadjusted bases of the property of such individual which is used in such business is attributable to collectibles (as defined in section 408(m)(2)) other than collectibles that are held primarily for sale to customers in the ordinary course of such business, and (7) less than 5 percent of the average of the aggregate unadjusted bases of the property of such individual which is used in such business is attributable to nonqualified financial property. For purposes of this subsection, the term "employee" includes the proprietor. Sec. 1397C. Enterprise zone business defined TITLE 26, Subtitle A, CHAPTER 1,

Sec. 1397C. Enterprise zone business defined TITLE 26, Subtitle A, CHAPTER 1, Subchapter U, PART III, Subpart D, Sec. 1397C. STATUTE (a) In general For purposes of this part, the term "enterprise zone business" means - (1) any qualified business entity, and (2) any qualified proprietorship. (b) Qualified business entity For purposes of this section, the term "qualified business entity" means, with respect to any taxable year, any corporation or partnership if for such year - (1) every trade or business of such entity is the active conduct of a qualified business within an empowerment zone, (2) at least 50 percent of the total gross income of such entity is derived from the active conduct of such business, (3) a substantial portion of the use of the tangible property of such entity (whether owned or leased) is within an empowerment zone, (4) a substantial portion of the intangible property of such entity is used in the active conduct of any such business, (5) a substantial portion of the services performed for such entity by its employees are performed in an empowerment zone, (6) at least 35 percent of its employees are residents of an empowerment zone, (7) less than 5 percent of the average of the aggregate unadjusted bases of the property of such entity is attributable to collectibles (as defined in section 408(m)(2)) other than collectibles that are held primarily for sale to customers in the ordinary course of such business, and (8) less than 5 percent of the average of the aggregate unadjusted bases of the property of such entity is attributable to nonqualified financial property. (c) Qualified proprietorship For purposes of this section, the term "qualified proprietorship" means, with respect to any taxable year, any qualified business carried on by an individual as a proprietorship if for such year - (1) at least 50 percent of the total gross income of such individual from such business is derived from the active conduct of such business in an empowerment zone, (2) a substantial portion of the use of the tangible property of such individual in such business (whether owned or leased) is within an empowerment zone, (3) a substantial portion of the intangible property of such business is used in the active conduct of such business, (4) a substantial portion of the services performed for such individual in such business by employees of such business are performed in an empowerment zone, (5) at least 35 percent of such employees are residents of an empowerment zone, (6) less than 5 percent of the average of the aggregate unadjusted bases of the property of such individual which is used in such business is attributable to collectibles (as defined in section 408(m)(2)) other than collectibles that are held primarily for sale to customers in the ordinary course of such business, and (7) less than 5 percent of the average of the aggregate unadjusted bases of the property of such individual which is used in such business is attributable to nonqualified financial property. For purposes of this subsection, the term "employee" includes the proprietor. Sec. 1397C. Enterprise zone business defined TITLE 26, Subtitle A, CHAPTER 1, Subchapter U, PART III, Subpart D, Sec. 1397C. STATUTE (a) In general For purposes of this part, the term "enterprise zone business" means - (1) any qualified business entity, and (2) any qualified proprietorship. (b) Qualified business entity For purposes of this section, the term "qualified business entity" means, with respect to any taxable year, any corporation or partnership if for such year - (1) every trade or business of such entity is the active conduct of a qualified business within an empowerment zone, (2) at least 50 percent of the total gross income of such entity is derived from the active conduct of such business, (3) a substantial portion of the use of the tangible property of such entity (whether owned or leased) is within an empowerment zone, (4) a substantial portion of the intangible property of such entity is used in the active conduct of any such business, (5) a substantial portion of the services performed for such entity by its employees are performed in an empowerment zone, (6) at least 35 percent of its employees are residents of an empowerment zone, (7) less than 5 percent of the average of the aggregate unadjusted bases of the property of such entity is attributable to collectibles (as defined in section 408(m)(2)) other than collectibles that are held primarily for sale to customers in the ordinary course of such business, and (8) less than 5 percent of the average of the aggregate unadjusted bases of the property of such entity is attributable to nonqualified financial property. (c) Qualified proprietorship For purposes of this section, the term "qualified proprietorship" means, with respect to any taxable year, any qualified business carried on by an individual as a proprietorship if for such year - (1) at least 50 percent of the total gross income of such individual from such business is derived from the active conduct of such business in an empowerment zone, (2) a substantial portion of the use of the tangible property of such individual in such business (whether owned or leased) is within an empowerment zone, (3) a substantial portion of the intangible property of such business is used in the active conduct of such business, (4) a substantial portion of the services performed for such individual in such business by employees of such business are performed in an empowerment zone, (5) at least 35 percent of such employees are residents of an empowerment zone, (6) less than 5 percent of the average of the aggregate unadjusted bases of the property of such individual which is used in such business is attributable to collectibles (as defined in section 408(m)(2)) other than collectibles that are held primarily for sale to customers in the ordinary course of such business, and (7) less than 5 percent of the average of the aggregate unadjusted bases of the property of such individual which is used in such business is attributable to nonqualified financial property. For purposes of this subsection, the term "employee" includes the proprietor. Sec. 1397C. Enterprise zone business defined TITLE 26, Subtitle A, CHAPTER 1,

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