recognition period
Defined in 2 places of the United States Code.
The term “recognition period” means the 10-year period beginning with the 1st day of the 1st taxable year for which the corporation was an S corporation.
Source
- 1994–201526 U.S.C. § 1374Internal Revenue Code · Tax imposed on certain built-in gains · for purposes of this section
The term “recognition period” means the 10-year period beginning with the 1st day of the 1st taxable year for which the corporation was an S corporation. For purposes of applying this section to any amount includible in income by reason of section 593(e), the preceding sentence shall be applied without regard to the phrase “10-year”.
Source
- 1997–200926 U.S.C. § 1374Internal Revenue Code · Tax imposed on certain built-in gains · for purposes of this section
The term “recognition period” means the 5-year period beginning with the 1st day of the 1st taxable year for which the corporation was an S corporation. For purposes of applying this section to any amount includible in income by reason of distributions to shareholders pursuant to section 593(e), the preceding sentence shall be applied without regard to the phrase “5-year”.
Source
- 2015–present26 U.S.C. § 1374Internal Revenue Code · Tax imposed on certain built-in gains · for purposes of this section
The term “recognition period” means, with respect to any ownership change, the 5-year period beginning on the change date.
Source
- 1994–present26 U.S.C. § 382Internal Revenue Code · Limitation on net operating loss carryforwards and certain built-in losses following ownership change · for purposes of this section