35-percent controlled entity
Defined in 1 place of the United States Code.
The term “35-percent controlled entity” means—
(i) a corporation in which persons described in subparagraph (A) or (B) of paragraph (1) own more than 35 percent of the total combined voting power,
(ii) a partnership in which such persons own more than 35 percent of the profits interest, and
(iii) a trust or estate in which such persons own more than 35 percent of the beneficial interest.
Source
- 1996–present26 U.S.C. § 4958Internal Revenue Code · Taxes on excess benefit transactions · for purposes of this section