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e-CFR data is current as of March 4, 2021

Title 26Chapter ISubchapter APart 2 → §2.1-27


Title 26: Internal Revenue
PART 2—MARITIME CONSTRUCTION RESERVE FUND


§2.1-27   Controlled corporation.

For the purpose of section 511 of the Act and the regulations in this part a new vessel is considered as constructed, reconstructed, reconditioned, or acquired by the taxpayer if constructed, reconstructed, reconditioned, or acquired by a corporation at a time when the taxpayer owns not less than 95 percent of the total number of shares of each class of stock of the corporation.

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