SECTION 1016 Clause Samples
SECTION 1016 typically refers to a provision within the U.S. Internal Revenue Code that governs the adjustment of the basis of property for tax purposes. This clause outlines how taxpayers must increase or decrease the original cost basis of an asset to reflect events such as improvements, depreciation, or other capital changes. For example, if a property owner makes significant renovations or claims depreciation deductions, these adjustments are factored into the property's basis. The core practical function of SECTION 1016 is to ensure that the calculation of gain or loss upon the sale or disposition of property is accurate, thereby preventing over- or under-taxation.
SECTION 1016. Limitation on Certain Asset Sales .................. 75 SECTION 1017. Unrestricted Subsidiaries .......................... 78 SECTION 1018. Limitation on Dividends and Other Payment Restrictions Affecting Restricted Subsidiaries ... 79 SECTION 1019.
SECTION 1016. Limitation on Issuances of Certain Guarantees by, and Debt Securities of, Restricted Subsidiaries..75 SECTION 1017. Limitation on Sale and Leaseback Transactions. . ..75 SECTION 1018. Limitation on Asset Dispositions. . . . . . . . . .75
SECTION 1016. Limitation on Issuances and Sales of Capital Stock of Restricted Subsidiaries................................ 78 SECTION 1017. Limitation on Liens.................................... 79 SECTION 1018. Unrestricted Subsidiaries.............................. 81 SECTION 1019. Limitation on Guarantees of Debt by Restricted Subsidiaries........................................... 81
SECTION 1016. 5 When a person previously employed by the District is reemployed within the same job classification 6 within one (1) year period after separation, he or she shall be placed on the same salary experience step 7 formerly held and have all other benefits reinstated. Any person who is reemployed by the District 8 after the one (1) year limit will be hired according to Section 16.1. 12 A R T I C L E X I 13 14 DISCIPLINE AND DISCHARGE OF EMPLOYEES
SECTION 1016. Limitation on Certain Asset Sales. . . . . . . . . . . .77
SECTION 1016. Limitation on Issuances and Sales of Capital Stock of Restricted Subsidiaries...............................................59
SECTION 1016. [Intentionally Omitted].........................................................................46
SECTION 1016. Rights of Trustee as a Holder of Senior Indebtedness; Preservation of Trustee's Rights . . . . . . . . . 82
SECTION 1016. Offer to Repurchase Upon Change of Control............... 81 SECTION 1017. Asset Sales.............................................. 82
SECTION 1016. Limitation on Sale and Leaseback Transactions..................