Adjusted Basis Clause Samples
The Adjusted Basis clause defines the value of an asset for tax or accounting purposes after accounting for various adjustments such as depreciation, improvements, or losses. In practice, this means the original cost of the asset is modified by factors like capital expenditures or allowable deductions over time, resulting in a new basis used to calculate gain or loss upon sale or transfer. This clause is essential for accurately determining tax liabilities and ensuring that parties correctly report financial outcomes related to asset transactions.
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Adjusted Basis. The Company's adjusted basis in any Company asset, as determined for Federal income tax purposes pursuant to Section 1011 of the Code.
Adjusted Basis. The basis for determining gain or loss for federal income tax purposes from the sale or other disposition of property, as defined in Section 1011 of the Code.
Adjusted Basis. The parties acknowledge and agree that, for US federal income tax purposes, the aggregate adjusted basis of the fixed assets (accounts receivable, inventory, prepaid and other assets are not to be included) held by and goodwill of Owner, to Seller’s Actual Knowledge as of October 1, 2013, is no greater than EIGHTEEN MILLION and 00/100 Dollars ($18,000,000.00).
Adjusted Basis. With respect to Partnership assets as of any date of determination, the Partnership’s adjusted basis of such assets, as determined for Federal income tax purposes, pursuant to Section 1011 of the Code. Adjusted Capital Account Deficit. With respect to any Partner, the deficit balance, if any, in such Partner’s Capital Account as of the end of the relevant fiscal year or other period, after giving effect to the following adjustments: