35-percent controlled entity
(A)The term “35-percent controlled entity” means— (i)a corporation in which persons described in subparagraph (A) or (B) of paragraph (1) own more than 35 percent of the total combined voting power, (ii)a partnership in which such persons own more than 35 percent of the profits interest, and (iii)a trust or estate in which such persons own more than 35 percent of the beneficial interest. (B)Rules similar to the rules of paragraphs (3) and (4) ofshall apply for purposes of this paragraph.