### Question
Can you define what parent-subsidiary controlled group means?


### Answer
**Parent-subsidiary controlled group** is defined as the following in *26 U.S.C. § 585*:

> any controlled group of corporations described in section 1563(a)(1)

#### Citation:
  - *26 U.S.C. § 585*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter H-Banking Institutions > PART I-RULES OF GENERAL APPLICATION TO BANKING INSTITUTIONS**

