46 U.S.C. § 53304 — Vessel ownership
submitted 20 years ago by Pub. L. 109-304 to r/title-46-SHIPPING · 38 words · no verdicts yet
This section sets the corporate-ownership rule for treating a taxpayer as constructing or acquiring a vessel.
For this chapter, a taxpayer is treated as constructing or acquiring a vessel* when a corporation does so and the taxpayer owns at least 95% of every class of the corporation’s stock.
In this chapter, a vessel* is deemed to be constructed or acquired by a taxpayer if constructed or acquired by a corporation when the taxpayer owns at least 95 percent of each class of stock of the corporation.
Source credit: (Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1588.)
- 2006Enacted · Pub. L. 109-304 · 120 Stat. 1588
A history note hasn’t been published yet. The record shows enactment by Pub. L. 109-304 on 2006-10-06.
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