Taxable Year Clause Samples
The "Taxable Year" clause defines the specific 12-month period used by a party for tax reporting and compliance purposes. Typically, this period aligns with either the calendar year or a fiscal year chosen by the entity, and it determines when income, expenses, and other tax-related items are recognized. By clearly establishing the relevant tax period, this clause ensures consistency in financial reporting and helps prevent disputes over which year's tax rules or obligations apply.
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Taxable Year. The taxable year of the Company as determined pursuant to Section 706 of the Code.
Taxable Year. The taxable year of the Partnership shall be the calendar year.
Taxable Year. The Company's Taxable Year is the calendar year.
Taxable Year. The period from January 1 to December 31 of each year.
Taxable Year. The taxable year of the Company shall be the calendar year, unless otherwise determined by the Majority Vote of the Members.
Taxable Year. The Corporation's taxable year shall be closed as of ------------ the close of business of the day of the Final Triggering Event.
Taxable Year. The Company’s Taxable Year is the Company’s annual accounting period, as determined by the Manager in compliance with Sections 441, 444 and 706 of the Code.
Taxable Year. The LLC’s Taxable Year is the LLC’s annual accounting period, as determined by the Manager in compliance with Sections 441, 444 and 706 of the Code.
Taxable Year. The taxable year of the Company for federal, state and local income tax purposes shall end on December 31.
Taxable Year. If an ESBT election is effective on a day other than the first day of the trust’s taxable year, the ESBT election does not cause the trust’s taxable year to close. The ter- mination of the ESBT election (includ- ing a termination caused by a conver- sion of the ESBT to a QSST) other than on the last day of the trust’s tax- able year also does not cause the trust’s taxable year to close. In either case, the trust files one tax return for the taxable year.