D owns Sample Clauses

D owns. 60 percent of the stock of Corporation X. The corporate by-laws pro- vide that the corporation cannot be liq- uidated for 10 years after which time liquida- tion requires approval by 60 percent of the voting interests. In the absence of the provi- sion in the by-laws, State law would require approval by 80 percent of the voting interests to liquidate X. D transfers the stock to a
Sample 1Sample 2See All (4)
AutoNDA by SimpleDocs
D owns. 60 percent of the stock of Corporation X. The corporate by-laws pro- vide that the corporation cannot be liq- uidated for 10 years after which time liquida- tion requires approval by 60 percent of the voting interests. In the absence of the provi- sion in the by-laws, State law would require approval by 80 percent of the voting interests to liquidate X. D transfers the stock to a trust for the benefit of D’s child, A, during the 10-year period. The 10-year restriction is an applicable restriction and is disregarded. Therefore, the value of the stock is deter- mined as if the transferred block could cur- rently liquidate X. Example 4. D and D’s children, A and B, are partners in Limited Partnership Y. Each has a 3.33 percent general partnership interest and a 30 percent limited partnership interest. Any general partner has the right to liq- uidate the partnership at any time. As part of a loan agreement with a lender who is re- lated to D, each of the partners agree that the partnership may not be liquidated with- out the lender’s consent while any portion of the loan remains outstanding. During the term of the loan agreement, D transfers one- half of both D’s partnership interests to each of A and B. Because the lender is a related party, the requirement that the lender con- sent to liquidation is an applicable restric- tion and the transfers of D’s interests are valued as if such consent were not required. Example 5. D owns 60 percent of the pre- ferred and 70 percent of the common stock in Corporation X. The remaining stock is owned by individuals unrelated to D. The preferred stock carries a put right that can- not be exercised until 1999. In 1995, D trans- fers the common stock to D’s child in a transfer that is subject to section 2701. The restriction on D’s right to liquidate is an ap- plicable restriction that is disregarded in de- termining the amount of the gift under sec- tion 2701. [T.D. 8395, 57 FR 4276, Feb. 4, 1992; T.D. 8395, 57 FR 11265, Apr. 2, 1992]
Sample 1Sample 2

Related to D owns

  • Xxxxxx Xxx as Holder Xxxxxx Mae shall have the right to purchase and hold for its own account any Certificate issued pursuant to the terms of this Trust Agreement, notwithstanding the rights and duties conferred and imposed upon Xxxxxx Xxx by this Trust Agreement. In determining whether the Holders of the requisite amount of Certificates have given any request, demand, authorization, direction, notice, consent or waiver hereunder, any Certificate held by Xxxxxx Mae in its corporate capacity shall be disregarded and deemed not to be outstanding.

  • Am I Eligible to Contribute to a Traditional IRA? Employees with compensation income and self-employed individuals with earned income are eligible to contribute to a Traditional IRA. (For convenience, all future references to compensation are deemed to mean “earned income” in the case of a self-employed individual.) Employers may also contribute to Traditional IRAs established for the benefit of their employees. In addition, you may establish a Traditional IRA to receive rollover contributions and transfers from the trustee or Custodian of another Traditional IRA or the Custodian or trustee of certain other retirement plans.

  • What if I Make a Contribution for Which I Am Ineligible or Change My Mind About the Type of IRA to Which I Wish to Contribute? Prior to the due date (including extensions) for filing your tax return, you may elect to “recharacterize” amounts that you contributed to an IRA during the year by making a recharacterization of the contributed amount and earnings. Thus, for example, if you contribute amounts to a Xxxx XXX and later determine that you are ineligible to make a Xxxx XXX contribution for the year, you may at any time prior to the tax return due date for the year (including extensions) make a recharacterization of the contributions and earnings to a Traditional IRA.

  • How Much May I Contribute to a Xxxx XXX As a result of the Economic Growth and Tax Relief Reconciliation Act (“EGTRRA”) of 2001, the maximum dollar amount of annual contributions you may make to a Xxxx XXX is $5,500 for tax years beginning in 2013 with the potential for Cost-of-Living Adjustment (COLA) increases in $500 increments. However, these amounts are phased out or eliminated entirely if your adjusted gross income is over a certain level, as explained in more detail below. Year 2020 2021 Xxxx XXX Contribution Limit $6,000 $6,000 You may make annual contributions to a Xxxx XXX in any amount up to 100% of your compensation for the year or the maximum contribution limits shown in the table above, whichever is less. The limitation is reduced by any contributions made by you or on your behalf to any other individual retirement plan (such as a Traditional IRA) except SEP IRAs and SIMPLE IRAs. Your annual contribution limitation is not reduced by contributions you make to a Xxxxxxxxx Education Savings Account that covers someone other than yourself. In addition, qualifying rollover contributions and transfers are not subject to these limitations. If you are age 50 or older by the end of the year, you may make additional “catch-up” contributions to a Xxxx XXX. The “catch-up” contribution limit is $1,000 for tax years 2009 and beyond. If you are married and file a joint return, you may make contributions to your spouse’s Xxxx XXX. However, the maximum amount contributed to both your own and to your spouse’s Xxxx XXX may not exceed 100% of your combined compensation or the maximum contribution shown in the table above, whichever is less. The maximum amount that may be contributed to either your Xxxx XXX or your spouse’s Xxxx XXX is shown in the table above. Again, these dollar limits are reduced by any contributions made by or on behalf of you or your spouse to any other individual retirement plan (such as a Traditional IRA) except SEP IRAs and SIMPLE IRAs. Again, the limit is not reduced for contributions either of you make to a Xxxxxxxxx Education Savings Account for someone other than yourselves. As noted in Item 1, your eligibility to contribute to a Xxxx XXX depends on your AGI (as defined below). The amount that you may contribute to a Xxxx XXX is reduced proportionately for AGI which exceeds the applicable dollar amount. For the 2020 and 2021 tax years, the amount that you may contribute to your Xxxx XXX is as follows: Single Individual Year Eligible to Make a Contribution if AGI is Less Than: Eligible to Make a Partial Contribution if AGI is Between: Not Eligible to Make A Contribution if AGI is Over: 2020 $124,000 $124,000 - $139,000 $139,000 2021 & After - sub- ject to COLA increases $125,000 $125,000 - $140,000 $140,000 Married Individual Filing a Joint Income Tax Return Year Eligible to Make a Contribution if AGI is Less Than: Eligible to Make a Partial Contribution if AGI is Between: Not Eligible to Make A Contribution if AGI is Over: 2020 $196,000 $196,000 - $206,000 $206,000 2021 & After - sub- ject to COLA increases $198,000 $198,000 - $208,000 $208,000 If you are a married taxpayer filing separately, your contribution phases out over the first $10,000 of AGI, so that if your AGI is $10,000 or more you may not contribute to a Xxxx XXX for the year. Note that the amount you may contribute to a Xxxx XXX is not affected by your participation in an employer-sponsored retirement plan. To determine the amount you may contribute to a Xxxx XXX (assuming it does not exceed 100% of your compensation), you can refer to IRS Publication 590-A: Modified Adjusted Gross Income for Xxxx XXX Purposes and Determining Your Reduced Xxxx XXX Contribution Limit. The amount you contribute may not exceed the maximum contribution limits shown in the table above reduced by the amount contributed on your behalf to all other individual retirement accounts (except SEP IRAs and SIMPLE IRAs). Your contribution to a Xxxx XXX is not reduced by any amount you contribute to a Xxxxxxxxx Education Savings Account for the benefit of someone other than yourself. If you are the beneficiary of a Xxxxxxxxx Education Savings Account, additional limits may apply to you. Please contact your tax advisor for more information.

  • Continuing as Plan Sponsor Nothing in this Disaffiliation Agreement shall prevent Local Church, after the Disaffiliation Date, from continuing to sponsor benefit plans from the General Board of Pension and Health Benefits, to the extent permitted by federal law, and provided that Local Church has not expressly resolved that it no longer shares common religious bonds with The United Methodist Church.

  • PERFORMING AGENCY’S PRE-EXISTING WORKS A. To the extent that Performing Agency incorporates into the Work Product any works of Performing Agency that were created by Performing Agency or that Performing Agency acquired rights in prior to the Effective Date of this Contract (“Incorporated Pre-existing Works”), Performing Agency retains ownership of such Incorporated Pre-existing Works.

  • How Much May I Contribute to a Xxxxxxxxx Education Savings Account? The maximum contribution that can be made to all Xxxxxxxxx Education Savings Account that cover a particular beneficiary may not exceed $2,000. It is the joint responsibility of the contributor and the beneficiary to verify that excess contributions are not made on behalf of a particular beneficiary. Qualifying rollover contributions and transfers are not subject to these limitations. Note that special rules apply to contributions to Xxxxxxxxx Education Savings Accounts for purposes of gift and estate taxes. In addition, if your adjusted gross income (or combined income if you file a joint tax return) as modified below exceeds certain limits, you are not eligible to make a contribution to a Xxxxxxxxx Education Savings Account. For this purpose your adjusted gross income is increased by amounts excluded under Section 911 (certain exclusions applicable to U.S. citizens or residents living abroad), Section 931 (certain exclusions applicable to U.S. citizens or residents living in Guam, American Samoa, or the Northern Mariana Islands), and Section 933 (certain exclusions applicable to U.S. citizens and residents living in Puerto Rico) of the Code. The amount you may contribute to a Xxxxxxxxx Education Savings Account for a particular beneficiary is reduced proportionately for adjusted gross income (as modified above) within the applicable dollar range. The applicable dollar range is $95,000 to $110,000 for an individual, a married individual filing a separate tax return or a head of household and for a married individual filing a joint tax return this range is increased to $190,000 to $220,000. To determine the amount you may contribute to a Xxxxxxxxx Education Savings Account, you can refer to IRS Publication 970: MAGI for a Xxxxxxxxx ESA and Xxxxxxxxx ESA Contribution Limit.

  • Unbroken Vacation Except during the period of time referred to in Article 17.06, where operational requirements permit, the Employer shall make every reasonable effort to grant to an Employee her request to enjoy her vacation entitlement in a single unbroken period of leave.

  • Unbroken Vacation Period An Employee shall receive an unbroken period of vacation unless mutually agreed upon between the Employee and the Employer.

  • Where Term Less Than Agreement Term Where a provision of this collective agreement so provides, the provision shall be in effect for a term less than the term of the collective agreement.

Time is Money Join Law Insider Premium to draft better contracts faster.