Examlex
Sound waves are detected by movements of the basilar membrane that in turn bend the cilia of inner hair cells.
Materially Participates
In terms of tax law, an individual's active and regular involvement in the operations of a business, affecting eligibility for certain tax deductions.
Passive Activity
Economic activities in which the taxpayer does not materially participate, often producing income subject to special tax rules.
Materially Participate
Involvement in the operations of a business or activity in a regular, continuous, and substantial way, affecting the tax consequences.
AMT Tax Rate
The percentage applied to compute the Alternative Minimum Tax, ensuring that taxpayers pay a minimum amount of tax.
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