Allocation of Tax Credits. The tax credits, if any, with respect to the Company’s property or operations shall be allocated among the Members in accordance with Treasury Regulations § 1.704-1(b)(4)(ii).
Allocation of Tax Credits. State and federal tax credits, if any, shall be allocated to the Members’ in accordance with their respective Ownership Percentages.
Allocation of Tax Credits. All tax credits allowed in connection with any depreciable property shall be allocated in the same manner as deductions for Depreciation of such property, and all tax credits allowed in connection with other expenditures shall be allocated in the same manner as deductions arising out of such other expenditures.
Allocation of Tax Credits. Except as may otherwise be required by law, any tax credits to which the Company may be entitled shall be allocated to the Members in accordance with their respective Participation Percentages.
Allocation of Tax Credits. All tax credits with respect to the Company's property or operations shall be allocated among the Members in accordance with their Sharing Ratios for the period during which the expenditures, production, sale, or other event giving rise to the tax credit occurred. If there is no Profit during such period, such tax credits shall be allocated as if there had been Profit during such Period.
Allocation of Tax Credits. 4.5.1. Except as provided in Section 4.5.2, in accordance with Treasury Regulation Section 1.704-1(b)(4)(ii), all expenditures giving rise to the allowance of any Tax Credits shall be allocated among the Partners in the manner in which the deductions arising from such expenditures are allocated among the Partners for the relevant taxable year, it being the intention of the Partners that such expenditures, including, without limitation, expenditures giving rise to the allowance of Low Income Housing Credits, be allocated 99% to the Limited Partners, as a class, and 1% to the General Partner.
4.5.2. For purposes of the investment tax credit, including the Historic Tax Credit, each Partner shall be allocated a share of the Partnership's basis in the property qualifying for the investment tax credit. Each Partner's share of such basis shall be determined in accordance with the ratio in which the Partners are allocated Profits of the Partnership (other than Profits from a Sale or Refinancing) for the year during which the property is placed in service. If the Partnership realizes no Profits during such year, then such share of such basis shall be determined in accordance with the ratio in which the next dollar of such Profits would have been allocated if such Profits had been realized.
4.5.3. Any recapture of any Tax Credits shall be allocated between the Limited Partners, as a class, and the General Partner in the same manner in which they shared the Tax Credits.
Allocation of Tax Credits. Any tax credits available to the Partnership and any tax credit recaptures for any accounting period shall be allocated among the Partners in accordance with their respective Proportionate Shares in effect during the accounting period.
Allocation of Tax Credits. Any tax credits with respect to the Company's property or operations shall be allocated between the Members respectively in accordance with their Sharing Ratios.
Allocation of Tax Credits. Except as may otherwise be required by law, any tax credits to which the Partnership may be entitled shall be allocated to the Partners in accordance with their respective Participation Percentages.
Allocation of Tax Credits. Allocations of tax credit, tax credit recapture, and any items related thereto shall be allocated to the Members according to their interests in such items as determined by the Class A Member, taking into account the principles of Treasury Regulation Section 1.704-1(b)(4)(ii).
