### Question
What is the definition of qualified corporate partner?


### Answer
The definition of **qualified corporate partner** is as follows in *26 U.S.C. § 465*:

> any corporation if—



(I) such corporation is a general partner in the partnership,



(II) such corporation has an interest of 10 percent or more in the profits and losses of the partnership, and



(III) such corporation has contributed property to the partnership in an amount not less than the lesser of $500,000 or 10 percent of the net worth of the corporation

#### Citation:
  - *26 U.S.C. § 465*
  - 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**

