electing small business trust
Defined in 1 dictionary — U.S. Code
United States Code
26 U.S.C. § 1361 — for purposes of this section (3 versions over time)
Except as provided in subparagraph (B), the term “electing small business trust” means any trust if—
(i) such trust does not have as a beneficiary any person other than (I) an individual, (II) an estate, (III) an organization described in paragraph (2), (3), (4), or (5) of section 170(c), or (IV) an organization described in section 170(c)(1) which holds a contingent interest in such trust and is not a potential current beneficiary,
(ii) no interest in such trust was acquired by purchase, and
(iii) an election under this subsection applies to such trust.
26 U.S.C. § 641 — for purposes of this chapter
For purposes of this subsection, the term “electing small business trust” has the meaning given such term by section 1361(e)(1).