24.2(a)(7)

(7) Contribute materially. The term contribute materially means that during the 2 taxable years prior to the taxable year in which displacement occurs, or during such other period as the Agency determines to be more equitable, a business or farm operation:

  • 24.2(a)(7)(i) Had average annual gross receipts of at least $5,000; or...
  • 24.2(a)(7)(ii) Had average annual net earnings of at least $1,000; or...
  • 24.2(a)(7)(iii) Contributed at least 33 1/3 percent of the owner's or operator's average a...
  • 24.2(a)(7)(iv) If the application of the above criteria creates an inequity or hardship in...
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