### Question
How does Accounting Periods and Methods of Accounting define closely held C corporation?


### Answer
Under *26 U.S.C. § 469*, **closely held C corporation** is defined as:

> any C corporation described in section 465(a)(1)(B)

#### Citation:
  - *26 U.S.C. § 469*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter E-Accounting Periods and Methods of Accounting > PART II-METHODS OF ACCOUNTING > Subpart C-Taxable Year for Which Deductions Taken**

