Common use of Tax Returns and Elections Clause in Contracts

Tax Returns and Elections. The Company’s tax or fiscal year will end on December 31 of each year unless otherwise determined by the Board. The Company’s accountants will be instructed to prepare and file all required income tax returns for the Company. The Board will make any tax election necessary for completion of the Company’s tax return; provided however (i) items of income, gain, loss, or deduction with respect to “Section 704(c) property” and with respect to property that has been revalued shall be determined in accordance with the traditional method described in Regulations § 1.704-3(b)(1) and the Company shall not elect to make curative or remedial allocations with respect to such property; and (ii) at the request of a Transferor of a Membership Unit, the Company shall make an election under § 754 of the Code with respect to such transfer.

Tax Returns and Elections. The Company’s tax or fiscal year Fiscal Year will end on December 31 of each year unless otherwise determined by the Board. The Company’s accountants will be instructed to prepare and file all required income tax returns for the Company. The Board will make any tax election necessary for completion of the Company’s tax return; provided however (i) items of income, gain, loss, or deduction with respect to “Section 704(c) property” and with respect to property that has been revalued shall be determined in accordance with the traditional method described in Regulations § 1.704-3(b)(1) and the Company shall not elect to make curative or remedial allocations with respect to such property; and (ii) at the request of a Transferor of a Membership Unit, the Company shall make an election under § 754 of the Code with respect to such transfer.

Tax Returns and Elections. The Company’s 's tax or fiscal year will end on December 31 of each year unless otherwise determined by the Board. The Company’s 's accountants will be instructed to prepare and file all required income tax returns for the Company. The Board will make any tax election necessary for completion of the Company’s 's tax return; provided however (i) items of income, gain, loss, or deduction with respect to “"Section 704(c) property” " and with respect to property that has been revalued shall be determined in accordance with the traditional method described in Regulations § Section 1.704-3(b)(1) and the Company shall not elect to make curative or remedial allocations with respect to such property; and (ii) at the request of a Transferor transferor of a Membership Unit, the Company shall make an election under § Section 754 of the Code with respect to such transfer.

Tax Returns and Elections. The Company’s tax or fiscal year Fiscal Year will end on December 31 of each year unless otherwise determined by the Board. The Company’s accountants will be instructed to prepare and file all required income tax returns for the Company. The Board will make any tax election necessary for completion of the Company’s tax return; provided however (i) items of income, gain, loss, or deduction with respect to “Section 704(c) property” and with respect to property that has been revalued shall be determined in accordance with the traditional method described in Regulations § 1.704-3(b)(1) and the Company shall not elect to make curative or remedial allocations with respect to such property; and (ii) at the request of a Transferor of a Membership UnitInterest, the Company shall make an election under § 754 of the Code with respect to such transfer.