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LSDefine

Simple English definitions for legal terms

controlled corporate groups

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A quick definition of controlled corporate groups:

Controlled Corporate Groups: A group of two or more corporations whose stocks are mostly owned by five or fewer people. These groups are subject to special tax rules under the Internal Revenue Code, and are also known as controlled corporate groups.

A more thorough explanation:

Controlled corporate groups refer to two or more corporations whose stock is mostly owned by five or fewer individuals. These entities are subject to special tax rules under the Internal Revenue Code, which includes parent-subsidiary or brother-sister groups.

  • Company A owns 60% of the stock of Company B, and the remaining 40% is owned by three individuals. This is a controlled corporate group.
  • Company X and Company Y are both owned by the same individual, and no other person owns more than 5% of either company's stock. This is also a controlled corporate group.

These examples illustrate how controlled corporate groups are formed when a small group of individuals own a significant portion of the stock in multiple corporations. The special tax rules for these groups aim to prevent tax evasion and ensure fair taxation.

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i need to know who decided to do that.
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omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
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yo splitterus are you in school already
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it says ur c/o 2027
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@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
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im back, r u applying this cycle too
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this child fell asleep on me
JumpySubsequentDolphin
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im so uncomfortable
just push him off the entire seat
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no he’s literally like 8 and he fully just put his head on my bicep and slept
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he has since moved
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@SplitterusClitterus: me yesterday
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i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
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people were getting excited :sob:
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@JumpySubsequentDolphin: wait this is so cute, also where r u going
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JumpySubsequentDolphin
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@splitty Oregon!
oh yay for what thats so random
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haha my brother and sister in law live there
so cutie oregon is beatiful
soyalmondoatmilk
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good morning! hoping waves will come our wave today
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GW wave today?
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