Domestic Owner [Internal Revenue] Law and Legal Definition

Pursuant to 26 CFR 1.1503(d)-1 (9) [ Title 26 Internal Revenue; Chapter I Internal Revenue Service, Department of the Treasury; Subchapter A Income Tax; Part 1 Income Taxes; Consolidated Returns; Dual Consolidated Losses Incurred in Taxable Years Beginning Before October 1, 1992], the term Domestic Owner means --

“(i) A domestic corporation (including a dual resident corporation) that has one or more separate units or interests in a transparent entity; and

(ii) In the case of a combined separate unit, a domestic corporation (including a dual resident corporation) that has one or more individual separate units that are treated as part of the combined separate unit under paragraph (b)(4)(ii) of this section.”