# Treas. Reg. § 2.1-27: Controlled corporation.

Source: eCFR as of 2026-10-19 <https://www.ecfr.gov/current/title-26/section-2.1-27>.

For the purpose of section 511 of the Act and the regulations in this part a new vessel is considered as constructed, reconstructed, reconditioned, or acquired by the taxpayer if constructed, reconstructed, reconditioned, or acquired by a corporation at a time when the taxpayer owns not less than 95 percent of the total number of shares of each class of stock of the corporation.