Tax Risk. Azteca acknowledges that the LLC is a "pass through" -------- entity and as such, Azteca will be directly taxed on Azteca's allocable share of the LLC's profits regardless of whether distributions are made to Azteca.
Appears in 3 contracts
Sources: Operating Agreement (Tarrant Apparel Group), Operating Agreement (Tarrant Apparel Group), Operating Agreement (Tarrant Apparel Group)
Tax Risk. Azteca acknowledges that the LLC is a "pass through" -------- entity and as such, Azteca will be directly taxed on Azteca's allocable share of the LLC's profits regardless of whether distributions are made to Azteca.
Appears in 1 contract
Sources: Limited Liability Company Operating Agreement (Tarrant Apparel Group)