Examples of S Termination Date in a sentence
The S Termination Date shall be on the date of the Effective Time of the Merger.
As defined in Section 1362(e)(1)(A) of the Code, the S Short Year of the Company shall be that portion of its S Termination Year beginning on the initial day of its fiscal year and ending on the day immediately preceding the S Termination Date.
The Shareholders shall pay any and all Taxes that are imposed on the Shareholders or the Company as a result of the Company's S election being treated as invalid or ineffective for any reason or such election being revoked or terminated prior to the S Termination Date.
The Acquiree is not and will not be liable for any taxes imposed under Code Sections 1374 or 1375 and has been an S Corporation from June 1, 1989 to the S Termination Date.
Acquiree Shareholders will be responsible for filing the short period S return ending on the S Termination Date, which return shall be reported on the closing of the books method as set forth in Code Section 1362(e)(3) and the Acquiree shall comply with any necessary requirements for making such election.
The Shareholders shall pay any and all Taxes that are imposed on the Shareholders or the Company as a result of the Company's S Election being treated as invalid or ineffective for any reason or such election being revoked or terminated prior to the S Termination Date.
The S Short Year of the Company shall be that portion of its S Termination Year beginning on the initial day of its fiscal year and ending on the day immediately preceding the S Termination Date.
Prior to the S Termination Date, the Company will declare a distribution to the Existing Stockholders that will include all of the Subsidiaries' previously earned and undistributed S corporation earnings through the S Termination Date (the "S Corporation Distribution").
The S Corporation Distribution will be distributed in the form of promissory notes due within six months of the S Termination Date bearing interest at 8% per annum ("S Distribution Notes").
Acquiree will be responsible for filing the short period S return ending on the S Termination Date, which return shall be reported on the closing of the books method as set forth in Code Section 1362(e) (3) and the Acquiree shall comply with any necessary requirements for making such election.