Allocation of Income. The Company and the Shareholders agree that for tax purposes (including for purposes of determining the Company's S Corporation Taxable Income for its fiscal year ending December 31, 1996) the Company shall allocate its items of income, gain, loss, deduction and credit for its fiscal year ending December 31, 1996 between the S Short Year and the C Short Year in accordance with the so- called "closing of the books method," as permitted by Section 1362(e)(3) of the Code. The Company will make the election permitted by Section 1362(e)(3) in a timely manner. The Shareholders agree to consent to such election and to provide the Company with the statement of consent of all shareholders described in Section 1.1362-6(b) of the Treasury Regulations. The Company and the Shareholders agree to make, and to provide such information and obtain such consents as are necessary to make, any comparable election required under applicable state and local income tax laws.
Allocation of Income or Gain from a Major Capital Event. Any income or gain realized by the Company from a Major Capital Event shall be allocated as follows:
Allocation of Income. Executive hereby acknowledges that the -------------------- Company and its related affiliates may allocate certain portions of Executive's compensation among the Company
Allocation of Income. For purposes of subsection (d), the Administrator may use any reasonable method of allocating income for any year, provided that such method does not violate Code §401(a)(4), is applied consistently to all excess distributions and Participants for the year, and is the method used to allocate income to Accounts generally.
Allocation of Income. Income earned on Company Stock in the Unallocated Company Stock Account will be used, at the discretion of the Administrator, to repay the Exempt Loan used to purchase such Company Stock Company Stock released from the Unallocated Company Stock Account with such income, and any income which is not so used, will be allocated on the annual Valuation Date in the same proportion that each Eligible Participant's Compensation for the Plan Year bears to the total Compensation of all Eligible Participants for the Plan Year.
Allocation of Income. Except as otherwise provided in Exhibit C attached hereto, Income shall be allocated to the Partners in accordance with their respective Interests as set forth in Exhibit B attached hereto, as such exhibit may be amended from time to time.
Allocation of Income. 2.1 The Parties agree that Party B or the distributor designated by Party B will be responsible for the collection of the income from the distribution in the Mainland of the People’s Republic of China, but must provide the details and statements of the distributor to Party A for the record.
Allocation of Income. Pursuant to Section 1362(e)(1) of the Code, the S termination year of the Company shall be divided into two short taxable years: an S short year and a C short year. The S short year of the Company shall be that portion of the Company’s S termination year beginning on January 1, 2006 and ending on the day immediately preceding the Termination Date. The C short year of the Company shall be that portion of the Company’s S termination year beginning on the Termination Date and ending on December 31, 2006. Further, the Company shall allocate tax items between its two short taxable years ending and beginning, respectively, on the day immediately preceding the Termination Date and the Termination Date. The Company intends to elect to allocate tax items to its S short year and C short year pursuant to its normal tax accounting method (i.e., the closing of the books method), pursuant to Code Section 1362(e)(3). As such, tax items shall be allocated to the S short year as if the tax year of the Company ended on the day before the Termination Date and shall be allocated to the C short year as if the Company’s tax year commenced on the Termination Date.
Allocation of Income. ACSYS and the Shareholders agree that for federal tax purposes (including for purposes of determining ACSYS' S corporation Taxable Income for its fiscal year ending December 31, 1998) ACSYS shall allocate its items of income, gain, loss, deduction and credit for its fiscal year ending December 31, 1998 between the S Short Year and the C Short Year in accordance with normal tax accounting rules (the "closing of the books method"), as permitted by section 1362(e)(3) of the Code. ACSYS will make the election permitted by section 1362(e)(3) in a timely manner. The Shareholders agree to consent to such election and to provide ACSYS with the statement of consent of all Shareholders described in section 1.1362-6(a)(5) and section 1.1362-6(b) of the Treasury Regulations. ACSYS and the Shareholders agree to make, and to provide such information and obtain such consents as are necessary to make, any comparable election required under applicable state and local income tax laws.
Allocation of Income. All items of income, gain, loss or' deduction reportable for tax purposes (as well as any tax credits arising from partnership activity and the cost or basis of property with respect to which tax credits may be available) in any year shall be allocated for tax purposes between the Partners in the same percentages as the profits or losses of the partnership are allocated during such year.
