A personal holding company is any corporation (other than one specifically excepted under section 542(c)) which, for the taxable year, meets:
Both requirements must be satisfied with respect to each taxable year.
26 C.F.R. §1.542-1
A personal holding company is any corporation (other than one specifically excepted under section 542(c)) which, for the taxable year, meets:
Both requirements must be satisfied with respect to each taxable year.
26 C.F.R. §1.542-1