Tax Allocation. For federal, state, and local income tax purposes the income, gains, losses, deductions and credits of the Company, including the character and type thereof, shall be allocated among the Members in the same manner that each such item is allocated among the Capital Accounts.
Appears in 4 contracts
Samples: Operating Agreement (ILS Fixed Horizon LLC), Operating Agreement (ILS Fixed Horizon LLC), Operating Agreement (ILS Fixed Horizon LLC)
Tax Allocation. For federal, state, and local income tax purposes the income, gains, losses, deductions and credits of the Company, including the character and type thereof, shall be allocated among the Members in the same manner that each such item is allocated among the Capital Accounts.
Appears in 4 contracts
Samples: Operating Agreement (Rockstar Capital Group, LLC), Operating Agreement (Rockstar Capital Group, LLC), Operating Agreement (Rockstar Capital Group, LLC)
Tax Allocation. For federal, state, and local income tax purposes the income, gains, losses, deductions and credits of the CompanyFund, including the character and type thereof, shall be allocated among the Members in the same manner that each such item is allocated among the Capital Accounts.
Appears in 2 contracts
Samples: Operating Agreement (Tuscan Gardens Secured Income Fund LLC), Operating Agreement (Tuscan Gardens Secured Income Fund LLC)
Tax Allocation. For federal, state, and local income tax purposes the * income, gains, losses, deductions and credits of the CompanyFund, including the * character and type thereof, shall be allocated among the Members in the * same manner that each such item is allocated among the Capital Accounts.
Appears in 1 contract
Samples: Operating Agreement (Tuscan Gardens Secured Income Fund LLC)