majority interest taxable year
Defined in 1 place of the United States Code.
The term “majority interest taxable year” means the taxable year (if any) which, on each testing day, constituted the taxable year of 1 or more partners having (on such day) an aggregate interest in partnership profits and capital of more than 50 percent.
Source
- 1994–present26 U.S.C. § 706Internal Revenue Code · Taxable years of partner and partnership · in this section