Common use of United States Tax Election Clause in Contracts

United States Tax Election. (a) For United Stated Federal Income Tax Purposes, each U.S. Party hereby elects to be excluded from the application of all the provisions of Subchapter K, Chapter 1, Subtitle A, of the United States Internal Revenue Code of 1986, as permitted by Section 761 of said Code and the Regulations promulgated thereunder.

United States Tax Election. (a) For Each Party which is subject to the income tax laws of the United Stated Federal Income Tax Purposes, each U.S. Party hereby States of America in respect of operations under this agreement elects to be excluded from the application of all the provisions of Subchapter Sub-chapter K, Chapter 1, Subtitle A, A of the United States US Internal Revenue Code of 1986, 1986 as permitted by Section 761 of said Code and the Regulations promulgated thereunderamended.