Personal Holding Company Tax

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Personal Holding Company Tax

A 15% tax added to corporate taxes in the United States on corporations in which five or fewer persons control at least half of the company's stock and at least 60% of the company's income is passive income from companies it owns. This tax is levied to discourage the existence of personal holding companies.
References in periodicals archive ?
Under the act, the accumulated earnings and the personal holding company taxes are reduced to 15%.
10) Personal Holding Company Taxes. S Corporations are not specifically excluded.
This includes income, accumulated earnings and personal holding company taxes. Further, the postponed amount may never have to be paid if the estimate of the 1993 loss turns out to be accurate.

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