key person

(3) Key person For purposes of paragraph (1), the term “key person” means an officer or 20-percent owner, except that the number of individuals who may be treated as key persons with respect to any taxpayer shall not exceed the greater of— (A) 5 individuals, or (B) the lesser of 5 percent of the total officers and employees of the taxpayer or 20 individuals.

Source

26 USC § 264(e)(3)

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Scoping language

None identified, default scope is assumed to be the parent (part IX) of this section.

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