material

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Related to materially: unduly

material

1. cloth or fabric
2. Philosophy composed of or relating to physical as opposed to mental or spiritual substance
3. Philosophy of or relating to matter as opposed to form
4. Law relevant to the issue before court: applied esp to facts or testimony of much significance
References in periodicals archive ?
It applies "[i]f the auditor believes that there is an unacceptably high risk that the current period's financial statements may be materially misstated when those prior-period likely misstatements.
Materially add to the value of the property--The court determined that the expenditures did not materially increase the value of the engines.
469(c) specifies that a passive activity is any activity that involves the conduct of any trade or business and in which the taxpayer does not materially participate.
Much of the same work and modifications made in Situations 1 and 2 were also made in Situation 3, along with substantial replacement and refurbishment of major components and systems (which materially increased the airframe's value and substantially prolonged its useful life).
The determination of whether an individual materially participates in an activity may be different for an LLC member and a partner.
Safe Harbor Statement: In accordance with the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, we provide the following cautionary remarks regarding important factors which, among others, could cause future results to differ materially from the forward-looking statements, expectations and assumptions expressed or implied herein.
Over half of their personal services must be performed in real property trades or businesses in which they materially participate.
469(c)(7)(a), which states that "[n]othing in the preceding provisions of this subparagraph shall be construed as affecting the determination of whether the taxpayer materially participates with respect to any interest in a limited partnership as a limited partner.
Regardless of whether or not the individual materially participates in the business currently, he would generally fall within the "five-out-often-year" test of Temp.
The Court indicated that the interests exchanged by the taxpayers were materially different because they were derived from loans made to different obligors and secured by different properties.
Note: If the rental pattern described previously is accurate, our owner may be surprised to learn, first, that he is not engaged in a rental activity; second, that he is not entitled to the $25,000 exception for active participation real estate; and third, that his failure to materially participate means that he has incurred a passive loss.
This is only available to eligible real estate professionals who materially participate in a rental real estate activity.