Partnership Year Clause Samples
The 'Partnership Year' clause defines the specific 12-month period used by a partnership for accounting, reporting, and operational purposes. Typically, this period may align with the calendar year or a fiscal year chosen by the partners, and it determines when financial statements are prepared and when profit and loss allocations are calculated. By clearly establishing the timeframe for these key activities, the clause ensures consistency in financial reporting and helps avoid confusion regarding deadlines and obligations within the partnership.
Partnership Year. The Partnership Year of the Partnership shall be the calendar year.
Partnership Year. For purposes of this Agreement, “Partnership Year” means the fiscal year of the Partnership, which shall be the same as the tax year of the Partnership. The tax year shall be the calendar year unless otherwise required by the Code.
Partnership Year. The annual accounting period of the Partnership shall be the calendar year.
Partnership Year. For purposes of this Agreement, “
Partnership Year. “Partnership Year” shall have the meaning ascribed to such term in Section 1.6.
Partnership Year. The Partnership Year of the Partnership shall be the fifty-two (52) or fifty-three (53) week period ending on the Friday nearest December 31 in each year.
Partnership Year. 8 PEC ...................................................................8
Partnership Year. The Partnership Year shall be the calendar year unless otherwise required under the Code.
Partnership Year. The Partnership year shall be a fiscal year ending on the last day of December.
Partnership Year. 9 PEC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9