deemed-owned shares
Defined in 1 dictionary — U.S. Code
United States Code
26 U.S.C. § 409 — for purposes of this section
The term “deemed-owned shares” means, with respect to any person—
(I) the stock in the S corporation constituting employer securities of an employee stock ownership plan which is allocated to such person under the plan, and
(II) such person's share of the stock in such corporation which is held by such plan but which is not allocated under the plan to participants.