Common use of Tax Returns and Elections Clause in Contracts

Tax Returns and Elections. (f) The Tax Member shall prepare, or cause to be prepared, at the expense of the Company, for each Allocation Year (or part thereof), federal, state and local tax returns required to be filed with respect to the Company. Each Member shall furnish to the Company and the Tax Member all pertinent information in its possession relating to the Company’s operations that is necessary to enable the tax returns to be timely prepared and filed. Not less than 60 days prior to the due date (as extended) of the federal income tax return or any state income tax return with respect to the Company, the return proposed by the Tax Member to be filed by the Company shall be furnished to the Members for review and approval. In addition, not more than 10 days after the date on which the Company files its federal income tax return or any state income tax return, a copy of the return so filed, or finalized, shall be furnished to the Members.

Tax Returns and Elections. (fa) The Tax Member shall prepare, or cause to be prepared, at the expense of the Company, for each Allocation Fiscal Year (or part thereof), federal, state and local tax returns required to be filed with respect to the Company. Each Member shall furnish to the Company and the Tax Member all pertinent information in its possession relating to the Company’s operations that is necessary to enable the tax returns to be timely prepared and filed. Not less than 60 sixty (60) days prior to the due date (as extended) of the federal income tax return or any state income tax return with respect to the Company, the return proposed by the Tax Member to be filed by the Company shall be furnished to the Members for review and approval. In addition, not more than 10 ten (10) days after the date on which the Company files its federal income tax return or any state income tax return, a copy of the return so filed, or finalized, filed shall be furnished to the Members.