20-percent owner
Defined in 1 place of the United States Code.
For purposes of subparagraph (A), the term “20-percent owner” has the meaning given such term by subsection (e)(4).
Source
- 1997–present26 U.S.C. § 264Internal Revenue Code · Certain amounts paid in connection with insurance contracts · in this section
For purposes of this subsection, the term “20-percent owner” means—
(A) if the taxpayer is a corporation, any person who owns directly 20 percent or more of the outstanding stock of the corporation or stock possessing 20 percent or more of the total combined voting power of all stock of the corporation, or
(B) if the taxpayer is not a corporation, any person who owns 20 percent or more of the capital or profits interest in the employer.
Source
- 1996–199726 U.S.C. § 264Internal Revenue Code · Certain amounts paid in connection with insurance contracts · in this section
For purposes of this subsection, the term “20-percent owner” means—
(A) if the taxpayer is a corporation, any person who owns directly 20 percent or more of the outstanding stock of the corporation or stock possessing 20 percent or more of the total combined voting power of all stock of the corporation, or
(B) if the taxpayer is not a corporation, any person who owns 20 percent or more of the capital or profits interest in the taxpayer.
Source
- 1997–present26 U.S.C. § 264Internal Revenue Code · Certain amounts paid in connection with insurance contracts · in this section