Acquired Corporation Returns Clause Samples

The "Acquired Corporation Returns" clause defines the responsibilities related to the preparation, filing, and payment of tax returns for the corporation being acquired, typically for periods ending on or before the closing date of a transaction. In practice, this clause specifies which party—usually the seller or the buyer—will handle the completion and submission of these tax returns, and may outline procedures for cooperation, review, and approval of the filings. Its core function is to ensure that tax compliance obligations for the acquired entity are clearly allocated and managed, thereby preventing disputes and ensuring a smooth transition during the acquisition process.