For purposes of this part, all of the following definitions shall apply: (a) âHeavy equipment propertyâ means rental property of a qualified heavy equipment renter. (b) âQualified heavy equipment renterâ means a renter that satisfies both of the following: (1) The principal business of the renter is the rental of heavy equipment property. (2) The renter is engaged in a line of business described in Code 532412 or 532310 of the North American Industry Classification System published by the United States Office of Management and Budget, 2012 edition.
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