employee-owner
Defined in 2 places of the United States Code.
The term “employee-owner” has the meaning given such term by section 269A(b)(2) (as modified by section 441(i)(2)).
Source
- 1994–present26 U.S.C. § 280HInternal Revenue Code · Limitation on certain amounts paid to employee-owners by personal service corporations electing alternative taxable years · for purposes of this section
The term “employee-owner” means any employee who owns, on any day during the taxable year, more than 10 percent of the outstanding stock of the personal service corporation. For purposes of the preceding sentence, section 318 shall apply, except that “5 percent” shall be substituted for “50 percent” in section 318(a)(2)(C).
Source
- 1994–present26 U.S.C. § 269AInternal Revenue Code · Personal service corporations formed or availed of to avoid or evade income tax · for purposes of this section