operating corporation
Defined in 1 place of the United States Code.
The term “operating corporation” means a corporation more than 50 percent of the assets of which were, at the time the security was purchased or before the close of the replacement period, used in the active conduct of the trade or business.
Source
- 1994–present26 U.S.C. § 1042Internal Revenue Code · Sales of stock to employee stock ownership plans or certain cooperatives · for purposes of this section
The term “operating corporation” shall include—
(I) any financial institution described in section 581, and
(II) an insurance company subject to tax under subchapter L.
Source
- 1996–present26 U.S.C. § 1042Internal Revenue Code · Sales of stock to employee stock ownership plans or certain cooperatives · for purposes of this section
The term “operating corporation” shall include—
(I) any financial institution described in section 581 or 593, and
(II) an insurance company subject to tax under subchapter L.
Source
- 1994–199626 U.S.C. § 1042Internal Revenue Code · Sales of stock to employee stock ownership plans or certain cooperatives · for purposes of this section