SPECIAL TAX ELECTIONS Sample Clauses

SPECIAL TAX ELECTIONS. With respect to Section 4.1, the Parties agree (if not applicable insert “N/A” or strike): Yes
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SPECIAL TAX ELECTIONS. 9 9.3 CHANGE OF MAJORITY FOR OTHER TAX ELECTIONS .....................................................10 JOA - Exhibit "F" ii
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SPECIAL TAX ELECTIONS. With respect to Section 4.1(d), the Parties agree (if not applicable insert “N/A” or strike): Yes that the Partnership shall elect to account for dispositions of depreciable assets under the general asset method to the extent permitted by Code §168(i)(4); N/A that the Partnership shall elect under Code §754 to adjust the basis of Partnership property, with the adjustments provided in Code §734 for a distribution of property and in Code §743 for a transfer of a partnership interest. In case of distribution of property the TRP shall adjust all tax basis capital accounts. In the case of a transfer of a partnership interest the acquiring party(ies) shall establish and maintain its (their) tax basis capital account(s); √ that the Partnership shall elect under Code §6231 to be subject to the TEFRA rules. N/A
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SPECIAL TAX ELECTIONS. With respect to Sec. 4.1, the Parties agree (if not applicable insert "N/A" or strike): ========================================================================================================= e) that the Partnership shall elect to account for dispositions of depreciable NO assets under the general asset method to the extent permitted by Code ss. 168(i)(4); --------------------------------------------------------------------------------------------------------- f) that the Partnership shall elect under Code ss.754 to adjust the basis Upon of Partnership property, with the adjustments provided in Code ss.734 for a any distribution of property and in Code ss.743 for a transfer of a partnership Party's interest. In case of distribution of property the TRP shall adjust all tax basis written capital accounts. In the case of a transfer of a partnership interest the requet acquiring party (ies) shall establish and maintain its (their) tax basis capital account(s); --------------------------------------------------------------------------------------------------------- g) that the Partnership shall elect under Code ss.6231 to be subject to the TEFRA rules. NO ========================================================================================================= ========================================================================================================= With respect to Sec. 4.2, Depletion the Parties agree that the Partnership shall NO use simulated percentage depletion instead of simulated cost depletion. ========================================================================================================= JOA - Exhibit "F"
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SPECIAL TAX ELECTIONS. With respect to Sec. 4.1, the Parties agree (if not applicable insert "N/A" or strike): ----------------------------------------------------------------------------------------------- e) that the Partnership shall elect to account for dispositions of depreciable NO assets under the NO general asset method to-the extent permitted by Code 168(i)(4); ----------------------------------------------------------------------------------------------- f) that the Partnership shall elect under Code ss.754 to adjust the basis of Upon Partnership property, with the adjustments provided in Code ss.734 for a any distribution of property and in Code ss.743 for a transfer of a partnership Party's interest. In case of distribution of property the TRP shall adjust all tax basis written capital accounts. In the case of a transfer of a partnership interest the request acquiring party(ies) shall establish and maintain its (their) tax basis capital account(s); ----------------------------------------------------------------------------------------------- g) that the Partnership shall elect under Code ss.6231 to be subject to the NO TEFRA rules. -----------------------------------------------------------------------------------------------
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Related to SPECIAL TAX ELECTIONS

  • SPECIAL TAX ELECTION The acquisition of the Purchased Shares may result in adverse tax consequences which may be avoided or mitigated by filing an election under Code Section 83(b). Such election must be filed within thirty (30) days after the date of this Agreement. A description of the tax consequences applicable to the acquisition of the Purchased Shares and the form for making the Code Section 83(b) election are set forth in Exhibit II. OPTIONEE SHOULD CONSULT WITH HIS OR HER TAX ADVISOR TO DETERMINE THE TAX CONSEQUENCES OF ACQUIRING THE PURCHASED SHARES AND THE ADVANTAGES AND DISADVANTAGES OF FILING THE CODE SECTION 83(b) ELECTION. OPTIONEE ACKNOWLEDGES THAT IT IS OPTIONEE'S SOLE RESPONSIBILITY, AND NOT THE CORPORATION'S, TO FILE A TIMELY ELECTION UNDER CODE SECTION 83(b), EVEN IF OPTIONEE REQUESTS THE CORPORATION OR ITS REPRESENTATIVES TO MAKE THIS FILING ON HIS OR HER BEHALF.

  • Income Tax Elections In the event of a distribution of property made in the manner provided under Section 734 of the Code, or in the event of a transfer of any Partnership Interest permitted by this Agreement made in the manner provided in Section 743 of the Code, the General Partner, on behalf of the Partnership, may, but shall not be required to, file an election under Section 754 of the Code in accordance with the procedures set forth in the applicable regulations promulgated thereunder.

  • DAC Tax Election The Ceding Company and the Reinsurer make an election pursuant to Treasury Regulation Section 1.848-2 (g) (8) of the Income Tax Regulations issued December, 1992, under Section 848 of the Internal Revenue Code of 1986, as amended, and agree to the terms stipulated in Schedule G – DAC Tax Schedule.

  • Tax Elections Except as otherwise provided herein, the General Partner shall, in its sole and absolute discretion, determine whether to make any available election pursuant to the Code, including the election under Section 754 of the Code. The General Partner shall have the right to seek to revoke any such election (including without limitation, any election under Section 754 of the Code) upon the General Partner’s determination in its sole and absolute discretion that such revocation is the best interests of the Partners.

  • Certain Tax Elections The Company shall not file any election pursuant to Regulations Section 301.7701-3(c) to be treated as an entity other than a partnership. The Company shall not elect, pursuant to Code Section 761(a), to be excluded from the provisions of subchapter K of the Code.

  • Tax Election This statement is being made under Section 83(b) of the Internal Revenue Code, pursuant to Treas. Reg. Section 1.83-2.

  • Accounting Methods; Income Tax Elections Except as disclosed in ---------------------------------------- Company SEC Reports filed before the date of this Agreement, or as required by a Governmental Entity, the Company shall not change its methods of accounting in effect at December 31, 1997, except as required by changes in GAAP as concurred in by the Company's independent auditors. The Company shall not (i) change its fiscal year or (ii) make any material tax election, other than in the ordinary course of business consistent with past practice, without consultation with Parent.

  • Special Tax Consequences The Participant acknowledges that, to the extent that the aggregate Fair Market Value (determined as of the time the Option is granted) of all shares of Stock with respect to which Incentive Stock Options, including the Option, are exercisable for the first time by the Participant in any calendar year exceeds $100,000, the Option and such other options shall be Non-Qualified Stock Options to the extent necessary to comply with the limitations imposed by Section 422(d) of the Code. The Participant further acknowledges that the rule set forth in the preceding sentence shall be applied by taking the Option and other “incentive stock options” into account in the order in which they were granted, as determined under Section 422(d) of the Code and the Treasury Regulations thereunder.

  • Federal Income Tax Elections The Member shall make all elections for federal income tax purposes.

  • Income Tax Allocations (a) Except as provided in this Section 4.3, each item of income, gain, loss and deduction of the Company for federal income tax purposes shall be allocated among the Members in the same manner as such items are allocated for Capital Account purposes under Section 4.1 and Section 4.2.

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