Examlex
The Communications Decency Act of 1996 was found to violate freedom of speech rights.
Active Participation
Involvement in making management decisions and the right to make significant and bona fide contributions to the operating and financial management of an activity.
Material Participation
A taxpayer's active and regular involvement in the operations of a business to qualify for certain tax benefits.
Passive Activity
An economic activity in which the investor does not materially participate and often includes rental activities or limited partnerships.
Limited Partner
An investor in a partnership who is not involved in daily business operations and whose liability is limited to the amount invested.
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