qualified corporate partner

Defined in 1 dictionary — U.S. Code

United States Code

26 U.S.C. § 465 — for purposes of this section (10 versions over time)

For purposes of clause (i), the term “qualified corporate partner” means any corporation if—

(I) such corporation is a general partner in the partnership,

(II) such corporation has an interest of 10 percent or more in the profits and losses of the partnership, and

(III) such corporation has contributed property to the partnership in an amount not less than the lesser of $500,000 or 10 percent of the net worth of the corporation.