Monthly Closing Election definition

Monthly Closing Election means an election pursuant to Revenue Procedure 2003-84 (or any successor Revenue Procedure or other applicable Internal Revenue Service guidance) that, if available, and if made on behalf of an eligible Series Pool, permits items of income, gain, loss or deduction of the Series Pool to be determined for federal income tax purposes on the basis of a monthly closing of its books.
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Monthly Closing Election shall have the meaning set forth in Section 2.5(b).
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Monthly Closing Election has the meaning set forth in Section 7.02(a)(i).
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Examples of Monthly Closing Election in a sentence

  • The test date is the first day of the month for which the Monthly Closing Election is effective..02 Eligible Partner.

  • If, at the end of any calendar month, an eli- gible partnership has a Monthly Closing Election in effect and one or more eli- gible partners of the partnership has a Monthly Closing Consent in effect, then, with respect to each such partner, the partnership must close its books as described in § 1.706 1(c)(2) of the Income Tax Regulations as if the partnerhad sold its entire interest in the partner- ship on the last day of that month.

  • If you are subject to tax in any such country, you may be required to file a tax return with and to pay tax in that country based on your allocable share of our income.

  • LENT, HOLY WEEK, AND EASTERLenten services continue on Tuesday nights at 8:00 pm in Birr Church.

  • Even if the partnership subsequently qualifies as an eligible part- nership, it may not make another Monthly Closing Election without the Commis- sioner’s consent.

  • Thepartnership’s Monthly Closing Election may be made at any time.

  • SCOPEThis revenue procedure applies to eli- gible partnerships (described in section3.01 of this revenue procedure) that elect to close their books monthly (the Monthly Closing Election) and to eligible partners (described in section 3.02 of this revenue procedure) that consent to take into account their distributive shares of part- nership income on a monthly basis (the Monthly Closing Consent)..01 Eligible Partnership.

  • Retaliation includes, but is not limited to, any form of intimidation, reprisal, or harassment.

  • If for any month the partnership fails to satisfy the test mandated by the preceding sentence, then the partnership’s Monthly Closing Election is terminated as of first day of the month.

  • An eligible partnership may make a Monthly Closing Election by fil- ing a statement with the appropriate ser- vice center.


More Definitions of Monthly Closing Election

Monthly Closing Election has the meaning set forth in Section 7.02(a)(i).
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Related to Monthly Closing Election

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

  • Election Date has the meaning specified in Section 3.12(h).

  • Post-Closing Adjustment Amount has the meaning set forth in Section 2.04(c).

  • Final Shared-Loss Month means the calendar month in which the tenth anniversary of the Commencement Date occurs.

  • Post-Closing Period means any taxable period or portion thereof beginning after the Closing Date. If a taxable period begins on or before the Closing Date and ends after the Closing Date, then the portion of the taxable period that begins on the day following the Closing Date shall constitute a Post-Closing Period.

  • Post-Closing Adjustment has the meaning set forth in Section 2.04(b)(ii).

  • Pre-Closing Statement has the meaning set forth in Section 2.4(a).

  • Pre-Closing Period means any Tax period ending on or before the Closing Date.

  • Final Closing Statement has the meaning set forth in Section 2.4(a).

  • 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.

  • Pre-Closing Straddle Period means the portion of a Straddle Period ending on the Closing Date.

  • Post-Closing Statement has the meaning set forth in Section 3.3(c).

  • Final Scheduled Distribution Date means with respect to (i) the Class A-1 Notes, the February 8, 2017 Distribution Date, (ii) the Class A-2-A Notes, the June 10, 2019 Distribution Date, (iii) the Class A-2-B Notes, the June 10, 2019 Distribution Date, (iv) the Class A-3 Notes, the October 8, 2020 Distribution Date, (v) the Class B Notes, the March 8, 2021 Distribution Date, (vi) the Class C Notes, the January 10, 2022 Distribution Date, (vii) the Class D Notes, the February 8, 2022 Distribution Date and (viii) the Class E Notes, the September 8, 2023 Distribution Date.

  • Estimated Closing Statement has the meaning set forth in Section 2.4(a).

  • Post-Closing Straddle Period means the portion of a Straddle Period beginning the day after the Closing Date.

  • Payment Adjustment Date With respect to each ARM Loan, the date on which the Borrower's Monthly Payment changes in accordance with the terms of the related Mortgage Note.

  • Class A-1 Final Scheduled Distribution Date means the Distribution Date.

  • Last Scheduled Distribution Date The Distribution Date in the month immediately following the month of the latest scheduled maturity date for any of the Mortgage Loans.

  • Closing Adjustment Amount shall have the meaning set forth in Section 3.2(c).

  • Settlement Method Election Date With respect to any Settlement of any Transaction, the 2nd Scheduled Trading Day immediately preceding (x) the Valuation Date for such Transaction, in the case of Physical Settlement, or (y) the First Unwind Date for such Transaction, in the case of Cash Settlement or Net Share Settlement.

  • Initial Closing Price means the RI Closing Value of a Reference Item on the Strike Date

  • Put Closing Date shall have the meaning set forth in Section 2.3.8.

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