Tax Status of the Company Sample Clauses
Tax Status of the Company. The Board covenants and agrees to use their best efforts to establish and maintain the classification of the Company as a disregarded entity for federal income tax purposes and not as an association taxable as a corporation.
Tax Status of the Company. The Company has been and is organized in conformity with the requirements for qualification as a real estate investment trust ("REIT") under the Code, and its method of operation has at all times enabled, and its proposed method of operation will enable, the Company to satisfy the requirements for taxation as a REIT under the Code.
Tax Status of the Company. In accordance with Treasury Regulation Section 301.7701-2(c), for so long as the Company has a single owner, it shall be disregarded as an entity separate from its owner for federal income tax purposes, but shall be treated as a corporation for purposes of Subtitle C (Employment Taxes and Collection of Income Tax) of the Internal Revenue Code of 1986, as amended.
Tax Status of the Company. The Manager will use its best efforts to meet such requirements of the Code, as interpreted from time to time by the Internal Revenue Service, by any other agency of the federal government, or by the courts, necessary to assure that the Company will be classified as a "partnership" for Federal income tax purposes. The Manager is hereby designated the "Tax Matters Member" for the Company.
Tax Status of the Company. Seller and Xxxxx understand and agree that upon Xxxxx becoming a shareholder of the Company on the Closing Date, the Company’s election to be taxed as an S corporation will automatically terminate, and the Company will be taxed as a C corporation effective as of the Closing Date. Pursuant to Code Section 1362(e)(1), the current Tax year of the Company will consist of two periods, the first of which will begin on January 1, 2025, and end on the day immediately prior to the Closing Date (the “First Tax Period”), with Seller being the shareholder of the Company, and the second of which will begin on the Closing Date and end on December 31, 2025 (the “Second Tax Period”), with Buyer being the shareholder of the Company. For the avoidance of doubt, the First Tax Period shall be treated as an S corporation short year, and the Second Tax Period shall be treated as a C corporation short year.
Tax Status of the Company. The Company shall be classified as an association taxable as a corporation for U.S. federal tax purposes. In furtherance of the foregoing, the Company shall file a timely and duly executed election on Internal Revenue Service Form 8832 to be classified as an association taxable as a corporation for U.S. federal tax purposes, effective as of no later than the day preceding the Effective Date.
Tax Status of the Company. The Managing Member and the Members covenant and agree to use their reasonable best efforts to establish and maintain the classification of the Company as a partnership for federal income tax purposes.
Tax Status of the Company. It is the intention of the Members that the Company shall be treated as a partnership for federal and, where applicable, state and local income tax purposes, and all of the provisions hereof are to be construed consistent with such intention.
Tax Status of the Company. The Company is a domestic eligible entity with a single owner, which is disregarded as an entity separate from the member for federal income tax purposes under U.S. Treas. Reg. § 301.7701-3(b)(1)(ii) and for state and local income, tax purposes to the extent provided by applicable law. No member or the Company shall make any election, including the Entity Classification Election available under U.S. Treas. Reg. § 301.7701-3(c), to change the tax classification of the Company.
Tax Status of the Company. Upon execution of this Agreement, the Company will provide Vanguard with a duly completed Internal Revenue Service (“IRS”) Form W-9 (Request for Taxpayer Identification Number and Certification), or any updated or successor form, signed under penalties of perjury. The Company agrees to notify Vanguard of any changes in its respective tax status and, as appropriate, to provide Vanguard with a new IRS Form W-9, or any updated or successor form.