Election Out definition

Election Out has the meaning assigned that term in Section 8.03(c).
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Election Out means the election provided by Section 6221(b) of the Code to have Subchapter C of Chapter 63 of Subtitle F of the Code not apply or any analogous election under state or local law.
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Election Out has the meaning set forth in Section 4.3(b)(i).
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Examples of Election Out in a sentence

  • Election Out of QTIP Treatment of Annuities, later.Except as described earlier, you do not have to file a gift tax return to report gifts to your spouse regardless of the amount of these gifts and regardless of whether the gifts are present or future interests.Transfers Not Subject to the Gift TaxFour types of transfers are not subject to the gift tax.

  • See Transfer of Certain Life Estates Received From Spouse in the instructions.12 Election Out of QTIP Treatment of Annuities◄ Check here if you elect under section 2523(f)(6) not to treat as qualified terminable interest property any joint and survivor annuities that are reported on Schedule A and would otherwise be treated as qualified terminable interest property under section 2523(f).

  • Election Out of the Centralized Partnership Audit RegimeIn general, the centralized partnership audit regime applies to all partnerships with partnership taxable years beginning after December 31, 2017 for any partnership (domestic or foreign) required to file a return under section 6031.

  • See, 83 F.R. 24-01, 2018 WL 253634 (F.R.) Election Out of Centralized Partnership Audit Regime.

  • Treasury Should Provide Rules for Revoking an Election Out Proposed Regulation Section 301.6221(b)-1(c) states that an election, once made, may not be revoked without consent of the IRS.

  • Standard Deduction Increase Election Out offor Married Persons Installment MethodBeginning in 2005, the standard deduction for a single For sales occurring after December 16, 1999, accrual individual and a married individual filing a separate return basis taxpayers were required to report installment sales will be the same.

  • Letter 6062, Notice of Invalid Election Out of the BBA, is used to notify a partnership of the IRS’ determination.

  • KEATINGE, RIBSTEIN AND KEATINGE ON LIMITED LIABILITY COMPANIES § 17.20 (2004); BISHOP AND KLEINBERGER at ¶ 2.10 (Election Out of Subchapter K).

  • Election Out of Automatic AllocationSection 2632(b) of the Code provides that an individual’s GST tax exemption will be automatically allocated to direct skips so that the inclusion ratio of such property is zero.o Electing out of automatic allocation for a direct skip gift will necessitate the payment of GST tax.o To opt-out of the automatic allocation of GST tax exemption to direct skips, an “X” will be placed in Column C of Part 2 of Schedule A.

  • Proposed Regulation § 301.6221(b)-1 Election Out for Certain Partnerships with 100 or Fewer Partners Proposed Reg.


More Definitions of Election Out

Election Out has the meaning set forth in Section 5.02.
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Related to Election Out

  • Election Notice has the meaning set forth in Section 11.01(b).

  • 10) Election has the meaning set forth in Section 6.05(a).

  • Section 336(e) Election has the meaning set forth in Section 7.06.

  • by-election means an election other than a general election;

  • Primary election means any regular primary election held under the election

  • Election campaign means any campaign in support of or in

  • Election Period means the period immediately preceding the beginning of each Plan Year established by the Administrator, such period to be applied on a uniform and nondiscriminatory basis for all Employees and Participants. However, an Employee's initial Election Period shall be determined pursuant to Section 5.1.

  • Election means an election by a constituency, or by a class within a constituency, to fill a vacancy among one or more posts on the council of governors;

  • Election cycle means the period beginning on the first day persons are eligible to

  • Distribution Election With respect to any Series, as specified in the related Supplement.

  • Election Sign means a sign advertising or promoting the election of a political party or a candidate for public office in a federal, provincial or municipal election;

  • Election Form means the form established from time to time by the Committee that a Participant completes, signs and returns to the Committee to make an election under the Plan.

  • Distribution Election Form means the form established from time to time by the Plan Administrator that the Director completes, signs and returns to the Plan Administrator to designate the time and form of distribution.

  • Regular election means an election held on a regular election date to elect an individual to, or nominate an individual for, elective office in the regular course of the terms of that elective office.

  • LCA Election has the meaning specified in Section 1.09(a).

  • Statewide popular election means a general election in which

  • Voice Initiated Election means any election concerning dividend options available to Investment Company shareholders or subscribers which is requested by voice over the telephone.

  • Payment Election means an election pursuant to Section 5.1.

  • Selection Notice means a notice substantially in the form set out in Part II of Schedule 3 (Requests) given in accordance with Clause 9 (Interest Periods).

  • Early Opt-in Election means the occurrence of:

  • Contribution Notice means a contribution notice issued by the Pensions Regulator under section 38 or section 47 of the Pensions Xxx 0000.

  • Qualified Election means a Participant's waiver of a Qualified Joint and Survivor Annuity or a Qualified Pre-Retirement Survivor Annuity. Any such waiver must be consented to in writing by the Participant's Spouse. The Spouse's consent must: designate a specific Beneficiary (including any class of Beneficiaries or any contingent Beneficiaries, which may not be changed without spousal consent) or expressly permits designations by the Participant without any further spousal consent; acknowledge the effect of the election; and be witnessed by a member of the Committee or a Notary Public. Additionally, a Participant's waiver of the Qualified Joint and Survivor Annuity shall not be effective unless the election designates a form of benefit payment which may not be changed without spousal consent (or the Spouse expressly permits designations by the Participant without any further spousal consent). Notwithstanding this consent requirement, if the Participant establishes to the satisfaction of a member of the Committee that there is no Spouse or the Spouse cannot be located, a waiver will be deemed a Qualified Election. Any spousal consent (or deemed spousal consent) obtained under this provision will be valid only with respect to such Spouse. A consent that permits designations by the Participant without further consent by such Spouse must acknowledge that the Spouse has the right to limit consent to a specific Beneficiary and, where applicable, a specific form of benefit, and that the Spouse voluntarily elects to relinquish either or both of such rights. A revocation of a prior waiver may be made by a Participant without the consent of the Spouse at any time before the commencement of benefits. The number of revocations shall not be limited. No consent obtained under this provision shall be valid unless the Participant has received notice as provided in paragraph (b) below.

  • Non-Elective Contribution means the Employer contributions to the Plan excluding, however, contributions made pursuant to the Participant's deferral election provided for in Section 4.2 and any Qualified Non-Elective Contribution used in the "Actual Deferral Percentage" tests.

  • Election judge means a poll worker that is assigned to:

  • Regular primary election means the election on the fourth Tuesday of June of