Brother-Sister Controlled Group [Internal Revenue Code] Law and Legal Definition

According to 26 USCS § 1563 [Title 26. Internal Revenue Code; Subtitle A. Income Taxes; Chapter 6. Consolidated Returns; Subchapter B. Related Rules; Part II. Certain Controlled Corporations] brother-sister controlled group means “two or more corporations if 5 or fewer persons who are individuals, estates, or trusts own stock possessing more than 50 percent of the total combined voting power of all classes of stock entitled to vote or more than 50 percent of the total value of shares of all classes of stock of each corporation, taking into account the stock ownership of each such person only to the extent such stock ownership is identical with respect to each such corporation.”