§ 47.3-2 - Definitions relating to the floor stocks taxes under this subpart C.

Act is the Omnibus Budget Reconciliation Act of 1993.

Aviation fuel is any liquid (other than any product taxable under section 4081) that is commonly or commercially known or sold as a fuel that is suitable for use in an aircraft.

Commercial aviation fuel is any aviation fuel that is held for use or sale for use in a business of transporting persons or property for compensation or hire by air.

Controlled group means—

(1) Any controlled group of corporations within the meaning of section 1563(a), except that the phrase “more than 50 percent” is substituted for the phrase “at least 80 percent” each place it appears therein and a controlled group of corporations includes members that are described in section 1563(b)(2) (relating to excluded members); and

(2) Any other group of organizations, at least one member of which is not a corporation, that is a brother-sister group under common control or a combined group under common control, with terms having the following meanings for this purpose:

(i) Organization means a sole proprietorship, a partnership, a trust, an estate, or a corporation.

(ii) Brother-sister group under common control means two or more organizations if—

(A) The same five or fewer persons who are individuals, estates, or trusts own (directly and with the application of § 1.414(c)-4 of this chapter) a controlling interest of each organization;

(B) Taking into account the ownership of each person only to the extent that person's ownership is identical with respect to each organization, such persons are in effective control of each organization; and

(C) The five or fewer persons whose ownership is considered for purposes of the controlling interest requirement for each organization are the same persons whose ownership is considered for purposes of the effective control requirement.

(iii) Controlling interest means—

(A) In the case of a corporation, ownership of stock possessing at least 50 percent of the total combined voting power of all classes of stock entitled to vote or at least 50 percent of the total value of the shares of all classes of stock of the corporation;

(B) In the case of a trust or estate, ownership of an actuarial interest (determined under § 1.52-1(f) of this chapter) of at least 50 percent of the trust or estate;

(C) In the case of a partnership, ownership of at least 50 percent of the profit interest or capital interest of the partnership; and

(D) In the case of a sole proprietorship, ownership of the sole proprietorship.

(iv) Effective control has the meaning given that term in § 1.52-1(d)(3) of this chapter.

(v) Combined group under common control has the meaning given that term in § 1.52-1(e) of this chapter.

Diesel fuel means any liquid (other than gasoline) that is suitable for use in a diesel-powered highway vehicle, diesel-powered train, or, after December 31, 1993, diesel-powered boat.

Fuel means gasoline, diesel fuel, and aviation fuel (including after September 30, 1995, commercial aviation fuel).

Gasoline means—

(1) All products (including gasohol) that are commonly or commercially known or sold as gasoline and are suitable for use as a motor fuel (other than products that are not sold as gasoline and have an American Society for Testing Materials octane number of less than 75 as determined by the motor method); and

(2) Gasoline blend stocks (as defined in § 48.4081-1(j) of this chapter).

Person includes each business unit that has, or is required to have, its own employer identification number.