### Question
How is the term qualified fractional owner defined?


### Answer
The term **qualified fractional owner** is defined in *26 U.S.C. § 4043* as the following:

> any fractional owner which has a minimum fractional ownership interest in at least one fractional program aircraft

#### Citation:
  - *26 U.S.C. § 4043*
  - Heading: **Subtitle D-Miscellaneous Excise Taxes > CHAPTER 31-RETAIL EXCISE TAXES > Subchapter B-Special Fuels**

