Taxable Income and Losses. (a) Taxable income of the Limited Partnership shall be allocated between the Limited Partners in accordance with the following principles:
Taxable Income and Losses Sample Clauses
Related to Taxable Income and Losses
Allocation of Profits and Losses Distributions Profits/Losses. For financial accounting and tax purposes, the Company's net profits or net losses shall be determined on an annual basis and shall be allocated to the Members in proportion to each Member's relative capital interest in the Company as set forth in Schedule 2 as amended from time to time in accordance with U.S. Department of the Treasury Regulation 1.704-1.
PROFITS/LOSSES For financial accounting and tax purposes, the Company's net profits or net losses shall be determined on an annual basis and shall be allocated to the Members in proportion to each Member's relative capital interest in the Company as set forth in Schedule 2 as amended from time to time in accordance with U.S. Department of the Treasury Regulation 1.704-1.
Fiscal Year; Taxable Year The fiscal year and the taxable year of the Company is the calendar year.
