§ 1.542-1 - General rule.

Latest version.

§ 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 § 1.542-2–2, and
(b) The stock ownership requirement specified in section 542(a)(2) and § 1.542-3–3.
Both requirements must be satisfied with respect to each taxable year.

                    
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§ 1.542-1 - General rule.

§ 1.542-1 General rule.