26 C.F.R. § 1.542-1. - § 1.542-1 General Rule.

Current as of January 1, 1970

Section 1.542-1 - § 1.542-1 General Rule.Section 1.542-1 - § 1.542-1 General Rule.

Section 1.541-1 - § 1.541-1 Imposition of Tax.Section 1.542-2 - § 1.542-2 Gross Income Requirement.

§ 1.542-1 General rule.

A personal holding company is any corporation (other than one specifically excepted under section 542(c)) which, for the taxable year, meets:

(a) The gross income requirement specified in section 542(a)(1) and § 1.542-2, and

(b) The stock ownership requirement specified in section 542(a)(2) and § 1.542-3.

Both requirements must be satisfied with respect to each taxable year.

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