N.Y. Comp. Codes R. & Regs. Tit. 10 § 441.57 - Capital lease
(a) A lease
which meets one of the following four criteria:
(1) The present value of the minimum lease
payments is 90 percent or more of the fair value of the property to the
lessor.
(2) The lease term is 75
percent or more of the leased property's estimated economic life.
(3) The lease contains a bargain (less than
fair value) purchase option.
(4)
Ownership is transferred to the lessee by the end of the lease term.
(b) See FASB Statement No. 13 for
further details.
Notes
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