Common use of Tax Credit Allocations Clause in Contracts

Tax Credit Allocations. All credits against income tax with respect to the Company’s property or operations shall be allocated among the Members in accordance with their respective membership interests in the Company for the Fiscal Year during which the expenditure, production, sale, or other event giving rise to the credit occurs. This Section 3.8 is intended to comply with the applicable tax credit allocation principles of Section 1.704-1(b)(4)(ii) of the Regulations and shall be interpreted consistently therewith.

Appears in 7 contracts

Samples: Operating Agreement, Operating Agreement (Siouxland Renewable Holdings, LLC), Operating Agreement

AutoNDA by SimpleDocs

Tax Credit Allocations. All credits against income tax with respect to the Company’s property or operations shall be allocated among the Members in accordance with their respective membership interests in the Company for the Fiscal Year during which the expenditure, production, sale, or other event giving rise to the credit occurs. This Section 3.8 5.11 is intended to comply with the applicable tax credit allocation principles of Section section 1.704-1(b)(4)(ii) of the Regulations and shall be interpreted consistently therewith.

Appears in 6 contracts

Samples: Operating Agreement, Operating Agreement (Granite Falls Energy, LLC), Operating Agreement (Granite Falls Energy, LLC)

Tax Credit Allocations. All credits against income tax credits with respect to the Company’s property or operations shall be allocated among the Members in accordance with their respective membership interests in the Company Membership Interests for the Fiscal Year during which the expenditure, production, sale, sale or other event giving rise to the credit such credits occurs. This Section 3.8 is intended to comply with the applicable tax credit allocation principles of Regulations Section 1.704-1(b)(4)(ii) of the Regulations and shall be interpreted consistently therewith.

Appears in 6 contracts

Samples: Operating Agreement (One Earth Energy LLC), Member Control Agreement (Highwater Ethanol LLC), Company Agreement (Liberty Renewable Fuels LLC)

Tax Credit Allocations. All credits against income tax credits with respect to the Company’s 's property or operations shall be allocated among the Members in accordance with their respective membership interests in the Company Membership Interests for the Fiscal Year during which the expenditure, production, sale, sale or other event giving rise to the credit such credits occurs. This Section 3.8 is intended to comply with the applicable tax credit allocation principles of Regulations Section 1.704-1(b)(4)(ii) of the Regulations and shall be interpreted consistently therewith.

Appears in 2 contracts

Samples: Operating Agreement (Homeland Energy Solutions LLC), Operating Agreement (Southwest Iowa Renewable Energy, LLC)

Tax Credit Allocations. All credits against income tax with respect to the Company’s property or operations operations, including the Small Ethanol Producer Credit (as defined in the Code), if available, shall be allocated among the Members in accordance with their respective membership interests in the Company for the Fiscal Year during which the expenditure, production, sale, or other event giving rise to the credit occurs. This Section 3.8 is intended to comply with the applicable tax credit allocation principles of Section section 1.704-1(b)(4)(ii) of the Regulations and shall be interpreted consistently therewith.

Appears in 2 contracts

Samples: Operating Agreement (Golden Grain Energy), Operating Agreement (United Wisconsin Grain Producers LLC)

AutoNDA by SimpleDocs

Tax Credit Allocations. All credits against income tax with respect to the Company’s 's property or operations shall be allocated among the Members in accordance with their respective membership interests in the Company for the Fiscal Year during which the expenditure, production, sale, or other event giving rise to the credit occurs. This Section 3.8 is intended to comply with the applicable tax credit allocation principles of Section 1.704-1.704- 1(b)(4)(ii) of the Regulations and shall be interpreted consistently therewith.

Appears in 1 contract

Samples: Operating Agreement

Tax Credit Allocations. All credits against income tax with respect to the Company’s property or operations operations, including the Small Ethanol Producer Credit (as defined in the Code), if available, shall be allocated among the Members in accordance with their respective membership interests in the Company for the Fiscal Year during which the expenditure, production, sale, or other event giving rise to the credit occurs. This Section 3.8 is intended to comply with the applicable tax credit allocation principles of Section 1.704-1(b)(4)(ii) of the Regulations and shall be interpreted consistently therewith.

Appears in 1 contract

Samples: Operating Agreement

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!