Subchapter K Election Sample Clauses

Subchapter K Election. The Owner intends to be excluded from Subchapter K of the Code and shall have the right to direct the Business Trustee to specifically elect out of Subchapter K of the Code.
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Subchapter K Election. No election shall be made by the Partnership or by any Partner to be excluded from the application of the provisions of Subchapter K of Chapter 1 of Title 1A of the Code or any similar provisions of applicable state tax laws.
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Subchapter K Election. 8 Section 2.7. Authority to Execute and Perform Various Documents.............8 Section 2.8. Title to the Trust Estate......................................8 ARTICLE 3 RECEIPT, DISTRIBUTION AND APPLICATION OF INCOME FROM THE TRUST ESTATE
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Subchapter K Election. The Partnership shall not elect to be excluded from the application of Subchapter K of the Code.
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Subchapter K Election. That no election shall be made by such Partner for the Partnership to be excluded from the application of the provisions of Subchapter K of the Code.
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Subchapter K Election. Seller and IPC properly and timely elected --------------------- pursuant to Treas Reg Section 1.761-2(b)(2)(ii) to be excluded from all of Subchapter K of the Internal Revenue Code for federal income tax purposes with respect to the North Valmy Station. Seller, and to Seller's Knowledge IPC, have not taken a position inconsistent with the exclusion election or applied to revoke the
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Subchapter K Election. Seller has elected pursuant to Treas Reg --------------------- Section 1.761-2(b)(2)(ii) to be excluded from all of Subchapter K of the Internal Revenue Code for federal income tax purposes with respect to the Xxxx Xxxxxxx Unit 4. Seller, and to Seller's Knowledge California Department of Water Resources, have not taken a position inconsistent with the exclusion election or applied to revoke the election. To Seller's Knowledge, no taxing authority has at any time asserted that the Xxxx Xxxxxxx Unit 4 or the joint ownership of Xxxx Xxxxxxx Unit 4 by Seller and California Department of Water Resources was taxable as a partnership or other entity, and Seller has no Knowledge of any intent of any taxing authority to do so.
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Related to Subchapter K Election

  • Subchapter M The Fund will comply with the requirements of Subchapter M of the Code to qualify as a regulated investment company under the Code.

  • CODE SECTION 754 ELECTION Upon the approval of the General Partners, the Partnership shall file an election under Code Section 754 to adjust the tax basis of the Partnership Property, with respect to any distribution of Partnership Property to a Partner permitted by this Agreement or a Transfer of a Partnership Interest in accordance with the terms of this Agreement, in accordance with Code Sections 734(b) and 743(b). The Partners acknowledge that once a Code Section 754 election shall be validly filed by the Partnership, it shall remain in effect indefinitely thereafter unless the Internal Revenue Service approves the revocation of such election.

  • Code Section 83(b) Election The Participant shall be permitted to make an election under Code Section 83(b), to include an amount in income in respect of the Award of Restricted Stock in accordance with the requirements of Code Section 83(b).

  • Section 754 Election In the event of a distribution of the Fund's property to a Member or an assignment or other transfer (including by reason of death) of Units of a Member in the Fund, at the request of a Member, the Board, in its sole and absolute discretion, may cause the Fund to elect, pursuant to Section 754 of the Code, or the corresponding provision of subsequent law, to adjust the basis of the Fund's property as provided by Sections 734 and 743 of the Code.

  • Section 754 Elections The General Partner shall elect, pursuant to Section 754 of the Code, to adjust the basis of the Partnership’s assets for (i) all transfers of Partnership Interests, and (ii) any distribution of Company property as described in Section 734 of the Code, if such election would benefit any Partner or the Partnership.

  • Section 83(b) Elections To the Company’s knowledge, all elections and notices permitted by Section 83(b) of the Code and any analogous provisions of applicable state tax laws have been timely filed by all employees who have purchased shares of the Company’s common stock under agreements that provide for the vesting of such shares.

  • Section 83(b) Election Purchaser understands that Section 83(a) of the Code, taxes as ordinary income the difference between the amount paid for the Stock and the fair market value of the Stock as of the date any restrictions on the Stock lapse. In this context, "restriction" includes the right of the Company to buy back the Stock pursuant to the Repurchase Option set forth in Section 2(a) above. Purchaser understands that Purchaser may elect to be taxed at the time the Stock is purchased, rather than when and as the Repurchase Option expires, by filing an election under Section 83(b) of the Code (an "83(b) Election") with the Internal Revenue Service in the form attached hereto as Exhibit C within thirty (30) days from the date the Stock is purchased. Even if the fair market value of the Stock at the time of the execution of this Agreement equals the amount paid for the Stock, the 83(b) Election must be made to avoid income under Section 83(a) of the Code in the future. Purchaser understands that failure to file such an 83(b) Election in a timely manner may result in adverse tax consequences for Purchaser. Purchaser further understands that an additional copy of such 83(b) Election is required to be filed with his or her federal income tax return for the calendar year in which the date of this Agreement falls. Purchaser acknowledges and understands that it is solely Purchaser's obligation and responsibility to timely file such 83(b) Election, and neither the Company nor the Company's legal or financial advisors shall have any obligation or responsibility with respect to such filing. Purchaser acknowledges that the foregoing is only a summary of the effect of United States federal income taxation with respect to purchase of the Stock hereunder and does not purport to be complete. Purchaser further acknowledges that the Company has directed Purchaser to seek independent advice regarding the applicable provisions of the Code, the income tax laws of any municipality, state or foreign country in which Purchaser may reside, and the tax consequences of Purchaser's death. Purchaser assumes all responsibility for filing an 83(b) Election and paying all taxes resulting from such election or the lapse of the restrictions on the Stock.

  • Section 338 Election No election under Section 338 has been made by or with respect to any of the Acquired Corporations or any of their respective assets or properties within the last three taxable years.

  • Tax Matters; Section 83(b) Election The Grantee hereby agrees to make an election to include in gross income in the year of transfer the Award LTIP Units hereunder pursuant to Section 83(b) of the Internal Revenue Code substantially in the form attached hereto as Exhibit B and to supply the necessary information in accordance with the regulations promulgated thereunder.

  • Section 338 Elections (a) Section 338(h)(10)

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