Tax Information for Current and Former Members. Within 90 days after the end of each taxable year of the Company or as soon thereafter as practicable, the Company shall prepare and distribute to each Member (and, to the extent necessary, to each former Member (or such Member's legal representatives)), at the expense of the Company, a report setting forth in sufficient detail such information as shall enable such Member or former Member (or such Member's legal representatives) to prepare its respective federal, state and local income tax returns in accordance with the laws, rules and regulations then prevailing. The Company shall also provide Schedules K-1 to Members as soon as practicable after the end of each taxable year of the Company.
Appears in 4 contracts
Samples: Operating Agreement (Excelsior Venture Partners Iii LLC), Operating Agreement (Excelsior Venture Partners Fund Iii LLC), Operating Agreement (Excelsior Venture Partners Iii LLC)
Tax Information for Current and Former Members. Within 90 days after the end of each taxable year of the Company or as soon thereafter as practicable, the Company shall prepare and distribute to each Member (and, to the extent necessary, to each former Member (or such Member's legal representatives)), at the expense of the Company, a report setting forth in sufficient detail such information as shall enable such Member or former Member (or such Member's legal representatives) to prepare its respective federal, state and local income tax returns in accordance with the laws, rules and regulations then prevailing. The Company shall also provide Schedules K-1 to Members as soon as practicable after the end of each taxable year of the Company and in any event within the time period required by the Internal Revenue Service ("IRS") after the end of each taxable year of the Company.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Fortress Brookdale Investment Fund LLC), Limited Liability Company Agreement (Fortress Pinnacle Investment Fund LLC)
