26 CFR 1.542-1
§ 1.542-1 General rule.
United States · 26 CFR — Internal Revenue · Status: effective
Cite this
- Citation
- 26 CFR 1.542-1, § 1.542-1 General rule, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/110423
- Permanent ID
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Full text
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.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.