Common use of Partnership Election Clause in Contracts

Partnership Election. The Members elect that the LLC be taxed as a partnership and not as an association taxable as a corporation.

Appears in 30 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

AutoNDA by SimpleDocs

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

Samples: Operating Agreement, Operating Agreement

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!