26 C.F.R. § 2.1-27 Controlled corporation.
Title 26 - Internal Revenue
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.
Title 26: Internal Revenue
PART 2—MARITIME CONSTRUCTION RESERVE FUND
§ 2.1-27 Controlled corporation.
