### Question
How is the term qualifying electric transmission transaction defined?


### Answer
The term **qualifying electric transmission transaction** is defined in *26 U.S.C. § 451* as the following:

> any sale or other disposition before January 1, 2008 (before January 1, 2014, in the case of a qualified electric utility), of—


(A) property used in the trade or business of providing electric transmission services, or


(B) any stock or partnership interest in a corporation or partnership, as the case may be, whose principal trade or business consists of providing electric transmission services,


  

but only if such sale or disposition is to an independent transmission company

#### Citation:
  - *26 U.S.C. § 451*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter E-Accounting Periods and Methods of Accounting > PART II-METHODS OF ACCOUNTING > Subpart B-Taxable Year for Which Items of Gross Income Included**

