taxable REIT subsidiary

(1) In general The term “taxable REIT subsidiary” means, with respect to a real estate investment trust, a corporation (other than a real estate investment trust) if— (A) such trust directly or indirectly owns stock in such corporation, and (B) such trust and such corporation jointly elect that such corporation shall be treated as a taxable REIT subsidiary of such trust for purposes of this part. Such an election, once made, shall be irrevocable unless both such trust and corporation consent to its revocation. Such election, and any revocation thereof, may be made without the consent of the Secretary.


26 USC § 856(l)(1)

Scoping language

for purposes of this part
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