Plus, Inc, Is a § 501(c)(3) Organization

question 138

Essay

Plus, Inc., is a § 501(c)(3) organization.It generates a small amount of net income each year.Ralph, the CEO of Plus, Inc., is concerned that Plus may be subject to the unrelated business income tax.Is there a materiality exception to this tax?

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Definitions:

Voltage-Gated

Refers to ion channels that open or close in response to changes in membrane potential, critical for nerve impulse conduction.

Node of Ranvier

Gaps in the myelin sheath of nerve fibers where the axonal membrane is exposed, facilitating rapid signal conduction along the neuron.

Axon

The long extension of the neuron that transmits nerve impulses away from the cell body. Compare with dendrite.

Dendrite

A branched extension of a neuron that receives stimuli and conducts impulses toward the cell body.