Election to Change Tax Status. The Company shall initially be a disregarded entity for federal tax purposes, provided however that the Members will have the power to subsequently make an election for the Company to be classified as an association to be taxed as a corporation for income tax purposes in accordance with the provisions of Income Tax Regulation § 301.7701-3(c) and the provisions of Regulation § 301.7701-3(g), as such regulations may be amended from time to time (including corresponding provisions of succeeding regulations). Any action to make any such election shall require the unanimous consent of the Members.
Appears in 4 contracts
Samples: Company Agreement (Entergy Arkansas Inc), Company Agreement (Entergy Mississippi Inc), Texas Limited Liability Company (Entergy New Orleans, Inc)
