Accounting and Taxable Year. The Manager shall keep books of account consistent with any method authorized or required by the Code and as determined by the Manager. The Manager shall close and balance the books at the end of each Taxable Year. The Members may choose any period authorized or required by the Code for the Company’s Taxable Year.
Accounting and Taxable Year. Subject to Section 448 of the Code and the provisions of this Agreement, the books of the Partnership (and the classification, realization and recognition of income, gain, losses, deductions and other items for Federal income tax purposes) shall be kept and determined on such method of accounting for tax and financial reporting purposes as may be determined by the Managing Partner. The taxable year of the Partnership shall end on such date permitted under the Code as the Partners shall determine.
Accounting and Taxable Year. The Company’s Taxable Year is the calendar year. The Managers will determine the Company’s accounting method and the Company will file tax returns using that accounting method. The Managers may adjust the Company’s accounting methodology without providing notice to the Investors in order to comply with the Code then in effect. The Managers are responsible for all accounting matters of the Company.
