1954 Code definition

1954 Code means the Internal Revenue Code of 1954, as amended.

1954 Code means the Internal Revenue Code of 1954 as amended from time to time through the date of enactment of the Code. References to the 1954 Code and Sections of the 1954 Code include relevant applicable regulations (including temporary regulations) and proposed regulations thereunder and any successor provisions to those Sections, regulations or proposed regulations.

1954 Code means the Internal Revenue Code of 1954, as amended, and the Treasury regulations thereunder.

Examples of 1954 Code in a sentence

• In the case of income, profits, estate, and gift taxes, imposed by Subtitles A and B, and excise taxes under Chapters 41 through 44 of the 1954 Code, before a de- ficiency may be assessed a statutory notice of deficiency (commonly called a ‘‘90-day letter’’) must be sent to the taxpayer by certified mail or registered mail unless the taxpayer waives this restriction on assessment.

• Sections 2031(a), 2032 and 2512(a) of the 1954 Code (sections 811 and 1005 of the 1939 Code) require that the property to be included in the gross estate, or made the subject of a gift, shall be taxed on the basis of the value of the property at the time of death of the decedent, the alternate date if so elected, or the date of gift.

• Without limiting the foregoing, the parties hereto agree to treat this Agreement as a lease for United States federal income tax purposes and Lessee will not file a tax return which is inconsistent with the foregoing and nothing contained herein shall be construed as an election by Lessor to treat Lessee as having acquired the Aircraft for the purpose of the investment credit allowed by Section 38 of the 1954 Code or any similar or successor statute.

• For purposes of com- puting the minimum tax liability im- posed under section 56 of the Internal Revenue Code of 1954 (Code), taxpayers are not liable for minimum tax on tax preference items that do not reduce the taxpayer’s tax liability under subtitle A of the Code for the taxable year.

• To that end, the Issuer and the Company will comply with all requirements of the Code and the 1954 Code to the extent applicable to the Bonds.

More Definitions of 1954 Code

1954 Code means the Internal Revenue Code of 1954, as amended. Each reference to a section of the 1954 Code herein shall be deemed to include the United States Treasury Regulations, including temporary and proposed regulations, relating to such section which are applicable to the Bonds or the use of the proceeds thereof.

1954 Code means the Internal Revenue Code of 1954, as in effect on the day prior to the effective date of the Code.

1954 Code has the meaning set forth in Section 6.14(a)(iii).

1954 Code means the Internal Revenue Code of 1954, as amended, as in effect on August 1, 1986.

1954 Code shall have the meaning set forth in Section 3.17(c).

1954 Code means the Internal Revenue Code of 1954, as amended, as applicable to the Bonds and the Project Facilities.

1954 Code means the Internal Revenue Code of 1954, as amended, and the regulations promulgated thereunder.