26 C.F.R. § 1.542-1

General rule

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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.

Notes of Decisions

Cited in 1 case, 1983–1983 · leading case: Mariani Frozen Foods, Inc. v. Comm'r, 81 T.C. 448 (Tax Ct. 1983).

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Mariani Frozen Foods, Inc. v. Comm'r, 81 T.C. 448 (Tax Ct. 1983). · cites it 2× “"For purposes of determining whether a United States shareholder which is a domestic corporation is a personal holding company under section 542 and section 1.542-1 , the character of the amount includible in gross income of such domestic corporation under this paragraph shall…”

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