Leased Property, When Included in the Property Factor, Usually Is

question 36

Short Answer

Leased property, when included in the property factor, usually is valued at________________ times its annual rental, even though the taxpayer does not own the asset.

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Definitions:

Ex Officio Seat

A position held by virtue of an office or position, granting the holder membership and possibly voting rights in a body or organization.

Board

A group of individuals elected or appointed to oversee the activities and governance of an organization, making key decisions and setting policies.

Virtue

The quality of being morally good or righteous.

Organizational Model

A schematic representation of how an organization structures its operations, resources, and communication pathways.