Tax Matters Handled By Company. The Company shall have full authority to negotiate with, to conclude agreements with or to refuse to agree with federal and state taxing authorities as to the taxable income of the Company for any taxable period, and any determination of such taxable income shall be binding upon the Members, each of which individually shall be liable to pay any additional tax and interest or shall be entitled to receive any refund and interest resulting from any such determination. The Company shall not be responsible for any loss or damage to a Member as a result of any such determination or failure to arrive at a determination.
Appears in 4 contracts
Samples: Limited Liability Company Operating Agreement (Collins Growth & Income Fund LLC), Limited Liability Company Operating Agreement (Collins Growth & Income Fund LLC), Limited Liability Company Operating Agreement (Collins Growth & Income Fund LLC)
