key person
Defined in 1 dictionary — U.S. Code
United States Code
26 U.S.C. § 264 — in this section
For purposes of paragraph (1), the term “key person” means an officer or 20-percent owner, except that the number of individuals who may be treated as key persons with respect to any taxpayer shall not exceed the greater of—
(A) 5 individuals, or
(B) the lesser of 5 percent of the total officers and employees of the taxpayer or 20 individuals.