personal holding company

personal holding company A holding company that is subject to special taxes and that usu. has a limited number of shareholders, with most of its revenue originating from passive income such as dividends, interest, rent, and royalties. [Cases: Internal Revenue 3850.1¨C3858, 4120. C.J.S. Internal Revenue ¡ì¡ì 383¨C386.] What is the legal equivalent of the term […]