Common use of Series Tax Classification Clause in Contracts

Series Tax Classification. Each of the Series shall elect to be treated as an association taxable as a corporation under Treasury Regulations Section 301.7701-3 with effect for each taxable period of its existence. The Series and each Series Member shall file all tax returns and shall otherwise take all tax and financial reporting positions in a manner consistent with such treatment. No election shall be filed with the Internal Revenue Service (or the tax authorities of any State) to have a Series taxable other than as an association taxable as a corporation for income tax purposes.

Appears in 6 contracts

Samples: Operating Agreement (Landa App 3 LLC), Limited Liability Company Operating Agreement, Limited Liability Company Agreement (Landa App LLC)

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