Partnership Status. The Company will elect to be treated as a pass-through entity for purposes of federal and state income tax, and each Member covenants that it will make no election, declaration or statement on or in any tax return, tax filing, or any book or record maintained by it which is inconsistent with or detrimental to the Company's ongoing maintenance of partnership tax status (or as a single-member entity, if applicable).
Appears in 12 contracts
Samples: Liability Company Agreement (Acme Television LLC), Limited Liability Company Agreement (Acme Television LLC), Limited Liability Company Agreement (Acme Television LLC)
Partnership Status. The Company will elect to be treated as a pass-through entity partnership for purposes of federal and state income tax, and each Member covenants that it will make no election, declaration or statement on or in any tax return, tax filing, or any book or record maintained by it which is inconsistent with or detrimental to the Company's ongoing maintenance of partnership tax status (or as a single-member entity, if applicable)status.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Acme Television LLC), Limited Liability Company Agreement (Acme Television LLC), Limited Liability Company Agreement (Acme Television LLC)
