terminal railroad corporation

(1) Terminal railroad corporation The term “terminal railroad corporation” means a domestic railroad corporation which is not a member, other than as a common parent corporation, of an affiliated group (as defined in section 1504 ) and— (A) all of the shareholders of which are rail carriers subject to part A of subtitle IV of title 49; (B) the primary business of which is the providing of railroad terminal and switching facilities and services to rail carriers subject to part A of subtitle IV of title 49 and to the shippers and passengers of such railroad corporations; (C) a substantial part of the services of which for the taxable year is rendered to one or more of its shareholders; and (D) each shareholder of which computes its taxable income on the basis of a taxable year beginning or ending on the same day that the taxable year of the terminal railroad corporation begins or ends.

Source

26 USC § 281(d)(1)


Scoping language

None identified. Default scope is assumed to be the entire title.
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