Partnership Election. The Members elect that the LLC be taxed as a partnership and not as an association taxable as a corporation.
Appears in 43 contracts
Sources: Operating Agreement, Operating Agreement, Operating Agreement
Partnership Election. The Members elect that As per §29-1074 of the Act, the LLC shall be taxed as a partnership and not as an association taxable as a corporation.
Appears in 2 contracts
Sources: Operating Agreement, Operating Agreement