Final Tax Return Sample Clauses
The "Final Tax Return" clause outlines the responsibilities and procedures for preparing and filing the last tax return for an entity or individual, typically upon dissolution, death, or the end of a business relationship. This clause specifies who is responsible for gathering necessary financial information, preparing the return, and ensuring timely submission to tax authorities. For example, in the context of a partnership dissolution, it may designate one partner or an external accountant to handle the final tax filings. Its core function is to ensure that all tax obligations are properly settled at the conclusion of an entity's existence or relationship, thereby preventing future disputes or liabilities related to unpaid taxes.
Final Tax Return. The Sellers shall cause the Partnership to file a federal and state income tax return for the period beginning January 1, 1997 and ending on the Closing Date.
Final Tax Return. The Selling Shareholders shall, at their expense, prepare and file, and pay any taxes due thereunder, and otherwise be responsible for all of the Company's tax returns due for the fiscal year ending September 30, 1998, and the period ending on the Closing Date and all periods prior thereto.
Final Tax Return. CNB and MFC each agrees that MFC will make all necessary arrangements for CNB's and MFC's independent accountants, ▇▇▇▇▇▇▇ & Company PLLC, to prepare, and MFC will cause to be filed, CNB's final federal and state income tax returns for the year in which the Effective Time occurs.
Final Tax Return. SFC, SNB, FCB and Bancorp agree that FCB will make all necessary arrangements for FCB’s independent accountants, PricewaterhouseCoopers LLP, to prepare, and FCB will cause to be filed, the SFC Companies’ final federal and state income tax returns for the year in which the Effective Time occurs.
Final Tax Return. As the contribution of the Interests to the UPREIT will constructively terminate Glacier Realty for federal income tax purposes, the Contributors acknowledge that UPREIT shall file, and Contributors will have no right to file, tax returns for Glacier Realty after Closing.
Final Tax Return. Following the Effective Time, FCB will make all necessary arrangements for the CBI Companies' final federal and state income tax returns for the year in which the Effective Time occurs to be prepared and filed.
Final Tax Return. Prior to the Effective Date, C Financial shall, subject to applicable laws and regulatory requirements, limitations or approvals, declare and pay a cash dividend to its shareholders (the "2015 Tax Distribution") in connection with the filing of the final Form 1120S, U.S. Income Tax Return of C Financial (the "Final Tax Return"). The 2015 Tax Distribution shall be in an amount sufficient to pay federal, state and local income taxes on the income that passes through to the shareholders of C Financial in connection with the Final Tax Return, reduced by any tax benefits produced by losses, deductions and credits that pass through to such shareholders (the "Final Tax Payments"). The 2015 Tax Distribution will be payable in at least two installments. The first installment shall be paid on the first business day prior to the Effective Date and such installment shall be in an amount equal to the estimated Final Tax Payments with a reasonable holdback as determined by C Financial in good faith. The second installment which shall include any Final Tax Payments not paid in the first installment shall be paid as soon as practically possible following the filing of the Final Tax Return. An additional payment of the 2015 Tax Distribution to the shareholders of C Financial shall be paid as soon as reasonably practicably following any time, and from time to time, when additional net income is passed through to the shareholders of C Financial for any reason as part of an amended and filed Final Tax Return, settlement of a Contest related to the Final Tax Return, or upon adjustment to the same by the IRS.
Final Tax Return. UTI agrees that, as soon as reasonably practicable following the Closing, it will file consolidated federal income tax return for SUITS relating to the period beginning on December 1, 1997 through the Closing Date. To the extent that as a result of the preparation of such federal income tax return, a net operating loss is generated that may be carried back to the prior taxable year, UTI shall cause SUITS to make all filings with the Internal Revenue Service reasonably necessary for SUITS to apply such net operating losses (to the extent permitted by applicable law) to prior year taxable income of SUITS. To the extent SUITS actually receives a refund from the IRS relating to a reduction in previously paid Taxes as a result of the carry back of any such net operating loss, SUITS shall forward such amounts to the Shareholders according to their respective Proportionate Shares.
Final Tax Return. The Buyer shall cause the Company to engage the accounting firm of its choice to prepare the final Tax return for the Company following Closing, the cost of which shall be paid by the Foundation. In the event the Company ultimately incurs any Liabilities for Taxes with respect to any matters with respect to which the Company received notice or waived such notice from the Internal Revenue Service between August 31, 2005 and the Closing Date, the Foundation shall promptly pay to the Buyer the amount of all such Liabilities upon request therefor from the Buyer. Not later than 10 days prior to the due date of each such Tax return, the Buyer shall deliver a copy of such Tax Return to the Foundation. The Buyer shall permit the Foundation to review and comment on such Tax return prior to filing and shall make such revisions to such Tax return as are reasonably requested by the Foundation.
Final Tax Return. As the contribution of the Interests to the UPREIT will terminate the Company for federal income tax purposes, the Contributors acknowledge that they will have no right to file the final tax return of the Company.