BBA Rules definition

BBA Rules means Subchapter C of Chapter 63 of the Code (Sections 6221 et seq.) as amended by the Bipartisan Budget Act of 2015, and any Treasury Regulations and other guidance promulgated thereunder, and any similar state or local legislation, regulations or guidance.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

BBA Rules means Code Sections 6221 through 6241, together with any guidance issued thereunder or successor provisions and any similar provision of state or local tax laws.

BBA Rules means Subchapter C of Chapter 63 of the Code (Sections 6221 et seq.), as enacted by the Bipartisan Budget Act of 2015, and any Regulations or other guidance issued thereunder, and any similar state or local legislation, regulations or guidance.

Examples of BBA Rules in a sentence

• Notwithstanding any provision to the contrary in this Agreement, the Partnership Representative shall be permitted make an election under Section 6226 of the BBA Rules (and any similar provision of state, local and non-U.S. tax Law) with respect to any Audit.

• References to Code Sections in this paragraph are to such provisions as amended by the BBA Rules.

• The General Partner shall be the “tax matters partner” of the Partnership for purposes of the TEFRA Rules and the “partnership representative” of the Partnership for purposes of the BBA Rules (collectively, the “tax matters partner”) for federal income tax purposes.

• The Partners acknowledge and agree that the General Partner and Partnership Representative shall be permitted, but not required, to take any actions to reduce or avoid Entity Taxes being imposed on the Partnership or any of its subsidiaries or investments under the BBA Rules.

• If the Partnership Representative is not the General Partner, the Partnership Representative shall consult with the General Partner as to how to conduct any material administrative and judicial proceedings or whether to make any election under the BBA Rules, including the election under Section 6226 of the Internal Revenue Code.

More Definitions of BBA Rules

BBA Rules means the partnership tax audit rules enacted under the Bipartisan Budget Act of 2015 and all effective Regulations and other guidance issued thereunder or with respect thereto.

BBA Rules means Code Sections 6221 through 6241, as in effect for taxable years of the Company beginning after December 31, 2017, together with any Treasury Regulations and other guidance promulgated thereunder, and any similar state or local legislation, regulations or guidance.

BBA Rules means Subchapter C of Chapter 63 of the Code (Sections 6221 et seq.), as enacted by the Bipartisan Budget Act of 2015, as amended from time to time, and any Treasury Regulations and other guidance promulgated thereunder, and any similar state or local legislation, regulations or guidance.

BBA Rules means Sections 6221 through 6241 of the Code, together with any binding administrative guidance issued thereunder or successor provisions and any similar provision of state or local tax laws.

BBA Rules has the meaning set forth in the Limited Liability Company Agreement.

BBA Rules means Subchapter C of Chapter 63 of the Code (Sections 6221 et seq.), after enactment of the Bipartisan Budget Act of 2015, any Treasury Regulations or other guidance promulgated thereunder or any similar non-U.S. or state or local legislation, regulations or guidance.

BBA Rules has the meaning set forth in the Limited Partnership Agreement.