Reportable business entity
Reportable business entity means an entity in which the reporting individual, directly or indirectly, or acting through or in concert with one or more persons: (1) Owns a material percentage of the equity; (2) Owns, controls, or has the power to vote a material percentage of any class of voting securities; or (3) Has the power to exercise a material influence over the management of policies of such entity from his or her status as a partner, director, officer, or majority shareholder in the entity.