short-term obligation

(1) Short-term obligation (A) In general Except as provided in subparagraph (B), the term “short-term obligation” means any bond, debenture, note, certificate, or other evidence of indebtedness which has a fixed maturity date not more than 1 year from the date of issue. (B) Exceptions for tax-exempt obligations The term “short-term obligation” shall not include any tax-exempt obligation (as defined in section 1275(a)(3) ).


26 USC § 1283(a)(1)

Scoping language

For purposes of this subpart
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