independent contractor

(3)For purposes of this subsection and subsection (e), the term “independent contractor” means any person— (A)who does not own, directly or indirectly, more than 35 percent of the shares, or certificates of beneficial interest, in the real estate investment trust; and (B)if such person is a corporation, not more than 35 percent of the total combined voting power of whose stock (or 35 percent of the total shares of all classes of whose stock), or, if such person is not a corporation, not more than 35 percent of the interest in whose assets or net profits is owned, directly or indirectly, by one or more persons owning 35 percent or more of the shares or certificates of beneficial interest in the trust.

Source

26 USC § 856(d)(3)


Scoping language

None: Default is title Scope
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