Adjustments to Net Profit or Loss. For purposes of computing taxable income or loss on the disposition of an item of Company property or for purposes of determining the cost recovery, depreciation, or amortization deduction with respect to any property, the Company shall use such property's book value determined in accordance with Regulation Section 1.704-1(b). Consequently, each property's book value shall be equal to its adjusted basis for federal income tax purposes, except as follows:
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Greatamerica Leasing Receivables 2000-1 LLC), Limited Liability Company Agreement (Pdi LLC)
Adjustments to Net Profit or Loss. For purposes of computing taxable income or loss on the disposition of an item of Company property or for purposes of determining the cost recovery, depreciation, or amortization deduction with respect to any property, the Company shall use such property's ’s book value determined in accordance with Treasury Regulation Section 1.704-1(b1.704 -l(b). Consequently, each property's ’s book value shall be equal to its adjusted basis for federal income tax purposes, except as follows:
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Trilogy International Partners Inc.), Limited Liability Company Agreement (SG Enterprises, II LLC)
Adjustments to Net Profit or Loss. For purposes of computing taxable income or loss on the disposition of an item of Company property or for purposes of determining the cost recovery, depreciation, or amortization deduction with respect to any property, the Company shall use such property's ’s book value determined in accordance with Treasury Regulation Section 1.704-1(bl(b). Consequently, each property's ’s book value shall be equal to its adjusted basis for federal income tax purposes, except as follows:
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Horwitz Bradley J), Limited Liability Company Agreement (Trilogy International Partners Inc.)
Adjustments to Net Profit or Loss. For purposes of computing taxable income or loss on the disposition of an item of Company property or for purposes of determining the cost recovery, depreciation, or amortization deduction with respect to any property, the Company shall use such property's book value determined in accordance with Regulation Section 1.704-§ 1.704- 1(b). Consequently, each property's book value shall be equal to its adjusted basis for federal income tax purposes, except as follows:
Appears in 1 contract
Samples: Operating Agreement
