Entities under common ownership definition
Entities under common ownership means entity assets are held indivisibly rather than in the names of individual members.
Entities under common ownership means two or more legal entities, such as corporations, limited liability companies, partnerships, and the like which are: owned by the same person(s); in which the same person(s) serve as officers and/or directors; or the majority of one of which is owned by one or more of the others. For example, if a single person owns controlling interests in several limited liability companies, all of those limited liability companies are entities under common ownership.