registered securities dealer
(15) Registered securities dealer. The term registered securities dealer means any dealer as defined in section 3(a)(5) of the Securities Exchange Act of 1934 that is registered, or required to be registered, under section 15 of the Securities Exchange Act of 1934. (16) Regular tax liability. The term regular tax liability has the meaning provided in section 26(b). (17) Related party(i) In general. A related party, with respect to an applicable taxpayer, is (A) Any 25-percent owner of the taxpayer; (B) Any person who is related (within the meaning of section 267(b) or 707(b)(1)) to the taxpayer or any 25-percent owner of the taxpayer; or (C) A controlled taxpayer within the meaning of 1.482-1(i)(5) together with, or with respect to, the taxpayer. (ii) 25-percent owner. With respect to any corporation, a 25-percent owner means any person who owns at least 25 percent of (A) The total voting power of all classes of stock of the corporation entitled to vote; or (B) The total value of all classes of stock of the corporation. (iii) Application of section 318. Section 318 applies for purposes of paragraphs (b)(17)(i) and (ii) of this section, except that (A) 10 percent is substituted for 50 percent in section 318(a)(2)(C); and (B) Section 318(a)(3)(A) through (C) are not applied so as to consider a United States person as owning stock that is owned by a person who is not a United States person. (18) TLAC long-term debt required amount. The term TLAC long-term debt required amount means the specified minimum amount of debt that is required pursuant to 12 CFR 252.162(a). (19) TLAC securities amount. The term TLAC securities amount is the sum of the adjusted issue prices (as determined for purposes of 1.1275-1(b)) of all TLAC securities issued and outstanding by the taxpayer, without regard to whether interest thereunder would be a base erosion payment absent 1.59A-3(b)(3)(v). (20) TLAC security. The term TLAC security means an eligible internal debt security, as defined in 12 CFR 252.161. (21) Unrelated business interest expense. The term unrelated business interest expense for any taxable year is the taxpayer's business interest expense paid or accrued to a party that is not a related party.