### Question
How is the "long-term lease" defined?


### Answer
The term **long-term lease** is defined in *26 U.S.C. § 4052* as follows -

> any lease with a term of 1 year or more

#### Citation:
  - *26 U.S.C. § 4052*
  - Heading: **Subtitle D-Miscellaneous Excise Taxes > CHAPTER 31-RETAIL EXCISE TAXES > Subchapter C-Heavy Trucks and Trailers**

