Allocation of Certain Tax Items. (a) Except as otherwise provided in this Paragraph 1.4, all items of income, gain, loss or deduction for federal, state and local income tax purposes will be allocated in the same manner as the corresponding "book" items are allocated under Paragraph 1.2 (as a component of Net Income or Net Losses), or 1.3.
Allocation of Certain Tax Items. Profits and Losses described in Section 3.1(e)(v) shall be allocated in a manner consistent with the manner that the adjustments to the Capital Accounts are required to be made pursuant to Treasury Regulation Sections 1.704-1(b)(2)(iv)(j), (k) and (m).
Allocation of Certain Tax Items. As stated in Treasury Regulations Section 1.704-1(b)(4)(i), when any property of the Partnership is reflected in the Capital Accounts of the Partners and on the books of the Partnership at a book value that differs from the adjusted tax basis of such property, then certain book items with respect to such property will differ from certain tax items with respect to that property. Since the Capital Accounts of the Partners are required to be adjusted solely for allocation of the book items, the Partners’ shares of the corresponding tax items are not independently reflected by adjustments to the Capital Accounts. These tax items must be shared among the Partners in a manner that takes account of the variation between the adjusted tax basis of the applicable property and its book value in the same manner as variations between the adjusted tax basis and fair market value of property contributed to the Partnership are taken into account in determining the Partners’ share of tax items under Code Section 704(c). In making allocations of tax items of the Partnership, the Partnership shall comply with the foregoing principles.
Allocation of Certain Tax Items. 10 5.1 Liability for Restructuring Taxes and Deconsolidation.....................................................10 5.2
Allocation of Certain Tax Items. If any Property of the Company is reflected in the Capital Accounts of the Stockholders and on the books of the Company at a Book Value that differs from the adjusted tax basis of such Property (including, without limitation, any interest that the Company owns in a Subsidiary), then the tax items with respect to such Property shall, in accordance with the requirements of Treasury Regulations Section 1.704-1(b)(4)(i), be shared among the Stockholders in a manner that takes account of the variation between the adjusted tax basis of the applicable property and its Book Value in the same manner as variations between the adjusted tax basis and fair market value of property contributed to the Company are taken into account in determining the Stockholder’s share of tax items under Code Section. Notwithstanding the foregoing, income, gain, loss, and deduction with respect to any property contributed to the capital of the Company shall, solely for tax purposes, be allocated among the Stockholders so as to take account of any variation between the adjusted basis of such property to the Company for federal income tax purposes and the initial Book Value of such property in accordance with any permissible manner or manners under Code Section 704(c) and the Treasury Regulations thereunder.
Allocation of Certain Tax Items. (a) Whenever a proportionate part of the Net Income and Net Loss is allocated to a Member for book purposes pursuant to ARTICLE 7, every item of income, gain, loss, deduction or credit entering into the computation of such Net Income or Net Loss or arising from the transactions with respect to which such Net Income or Net Loss were realized shall be credited or charged, as the case may be, to such Member in the same proportion for U.S. federal income tax purposes; provided, however, that recapture income, if any, shall be allocated to the Members in the same manner as were the corresponding Depreciation deductions.
Allocation of Certain Tax Items. If any of the assets of the Partnership are reflected in the Capital Accounts of the Partners and on the books of the Partnership at a book value that differs from the adjusted tax basis of such assets, then the tax items with respect to such assets shall, in accordance with Code Section 704(c) and with the requirements of Treasury Regulation Section 1.704-1(b)(4)(i), be allocated between the Partners in a manner that takes account of the variation between the adjusted tax basis of the applicable assets and their book value in accordance with Code Section 704(c) and the Treasury Regulations thereunder. For purposes of applying Section 704(c) of the Code to the initial property contributions of the Partners, the Partnership shall elect to use the traditional method with a curative allocation as provided by Treasury Regulation Section 1.704-3(c). The curative allocation to each of the respective Partners to account for the difference between the fair market value of the intangible assets associated with the Merchant Processing Business contributed by the other Partner and the adjusted tax basis of such assets shall be limited to the extent required by Treasury Regulation Section 1.704-3 and in any event shall not exceed the tax amortization available to the Partnership from the intangible assets associated with the Merchant Processing Business contributed by the Partners pursuant to Section 3.4 of the JV Agreement.
Allocation of Certain Tax Items. If any property of the Company is reflected in the Capital Accounts of the Members and on the books of the Company at a book value that differs from the adjusted tax basis of such property, then the tax items with respect to such property shall, in accordance with the requirements of Treasury Regulations Section 1.704-1(b)(4)(i), be shared among the Members in a manner that takes account of the variation between the adjusted tax basis of the applicable property
Allocation of Certain Tax Items. Section 5.1 Liability for Restructuring Taxes and Deconsolidation 13 Section 5.2 Carryforwards and Carrybacks. 14 Section 5.3 Refunds 14 Section 5.4 Allocation of Tax Items. 14 Section 5.5 Continuing Covenants 15
Allocation of Certain Tax Items. If any property of the Company is reflected in the Capital Accounts of the Members and on the books of the Company at a Book Value that differs from the adjusted tax basis of such property, then the tax items with respect to that property shall, in accordance with Treasury Regulations Section 1.704-1(b)(4)(i), be shared among the Members in a manner that takes account of the variation between the adjusted tax basis of the applicable property and its Book Value in the same manner as variations between the adjusted tax basis and fair market value of property contributed to the Company are taken into account in determining the Members' share of tax items under Code Section 704(c).
