electing small business trust
Defined in 2 places of the United States Code.
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.
Source
- 2000–present26 U.S.C. § 1361Internal Revenue Code · S corporation defined · for purposes of this section
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, or (III) an organization described in paragraph (2), (3), (4), or (5) of section 170(c),
(ii) no interest in such trust was acquired by purchase, and
(iii) an election under this subsection applies to such trust.
Source
- 1997–200026 U.S.C. § 1361Internal Revenue Code · S corporation defined · for purposes of this section
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, or (III) an organization described in paragraph (2), (3), (4), or (5) of section 170(c) which holds a contingent interest 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.
Source
- 1996–199726 U.S.C. § 1361Internal Revenue Code · S corporation defined · for purposes of this section
For purposes of this subsection, the term “electing small business trust” has the meaning given such term by section 1361(e)(1).
Source
- 1996–present26 U.S.C. § 641Internal Revenue Code · Imposition of tax · for purposes of this chapter