ineligible corporation
Defined in 1 place of the United States Code.
For purposes of paragraph (1), the term “ineligible corporation” means any corporation which is—
(A) a financial institution which uses the reserve method of accounting for bad debts described in section 585,
(B) an insurance company subject to tax under subchapter L,
(C) a corporation to which an election under section 936 applies, or
(D) a DISC or former DISC.
Source
- 1996–201826 U.S.C. § 1361Internal Revenue Code · S corporation defined · in this section
For purposes of paragraph (1), the term “ineligible corporation” means any corporation which is—
(A) a financial institution which uses the reserve method of accounting for bad debts described in section 585,
(B) an insurance company subject to tax under subchapter L, or
(C) a DISC or former DISC.
Source
- 2018–present26 U.S.C. § 1361Internal Revenue Code · S corporation defined · in this section
For purposes of paragraph (1), the term “ineligible corporation” means any corporation which is—
(A) a member of an affiliated group (determined under section 1504 without regard to the exceptions contained in subsection (b) thereof),
(B) a financial institution to which section 585 applies (or would apply but for subsection (c) thereof) or to which section 593 applies,
(C) an insurance company subject to tax under subchapter L,
(D) a corporation to which an election under section 936 applies, or
(E) a DISC or former DISC.
Source
- 1994–199626 U.S.C. § 1361Internal Revenue Code · S corporation defined · in this section