Tax Year Clause Samples
The Tax Year clause defines the specific 12-month period used for tax reporting and compliance purposes within the agreement. Typically, this period aligns with either the calendar year or a fiscal year designated by the parties, and it determines when income, expenses, and other tax-related items are recognized. By clearly establishing the relevant tax year, this clause ensures consistency in financial reporting and helps prevent disputes over the timing of tax obligations or benefits.
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Tax Year. The Partnership’s tax year will end on , 20 .
Tax Year. Unless otherwise specified on the Subscriber’s signature page to this Agreement, the Subscriber’s tax year ends on December 31 of each year.
Tax Year. The tax year of the Partnership will be the calendar year.
Tax Year. The Partnership’s tax year will end on [DATE].
Tax Year. The taxable year of the Company shall be the same as its Fiscal Year.
Tax Year. The period for which an Individual must report income on his or her Federal income tax return. The tax return of most Individuals is based on the calendar year.
Tax Year. The fiscal and taxable year of the Company shall be the calendar year, unless otherwise required by the Code.
Tax Year. Change its fiscal or Tax year.
Tax Year. The Tax Year of the Company will be a 12-month year ending December 31 unless the Company is required by Section 706 of the Code to use a different Tax Year.
Tax Year. The Trust shall adopt the calendar year as its taxable year (“Tax Year”). The first Tax Year of the Trust shall commence on the date of filing of the Certificate of Trust and shall end on the December 31 of the year during which the Certificate of Trust was initially filed. If, after commencement of operations, applicable tax rules require the Trust to adopt a taxable year other than the calendar year, the term “Tax year” for the Trust shall mean such other taxable year as required by Code section 706 or an alternative taxable year chosen by the Managing Owner which has been approved by the Internal Revenue Service. The Tax Year in which the Trust shall terminate shall end on the date of such termination.