FLP means Farm Loan Programs.
FLP means, when used with respect to a natural Person, a “family limited partnership” or “family limited liability company” established by such Person for his benefit, and in which such Person is a general or limited partner, and for the sole benefit of all or any of such Person’s Family Members.
FLP is defined above in the preamble.
Examples of FLP in a sentence
In the event a trust is established, a copy must be placed on file with FLP.
FLP warrants satisfaction and guarantees its products are free from defect and substantially conform to product specifications.
The name “Forever Living Products” and symbols of FLP and other names as may be adopted by FLP including FLP Product names are proprietary trade names and trademarks of the Company.
In the event there is a dispute, FLP will determine the facts and resolve the issue.
For all FLP products exclusive of literature and promotional products, this warranty and guarantee shall be for a period ending thirty (30) days from date of purchase.
More Definitions of FLP
FLP means Friends Life and Pensions Limited, a company incorporated in England and Wales with registered number 00475201;
FLP means Friends Life and Pensions Limited, a company incorporated in England and Wales with registered number 475201 whose registered office is at Pixham End, Dorking, Surrey, RH4 1QA;
FLP means Food Lab Pacific Limited Price means the price payable for the Services and Goods as set by FLP.
FLP refers to “Family Limited Partnership”. 2 Enter the last name of the family member who is forming the FLP [e.g. XXXXX] 3 The reference to “Family” in the FLP is a reference to the family limited partnership income tax rules under IRC § 704(e). In general, the family partnership tax rules require that income follow the person who earned it or provided the services regardless how it is allocated in the partnership agreement. In FLP’s , family members who are not active in the business may only be recognized as partners if capital is an income producing factor and they have a capital interest (even if received by gift). Allocation of income is subject to a mandatory allocation of a reasonable value for the services of a donor-partner. Thus, if all income in an FLP is attributable to the personal efforts of the donor partner, then the donor partner will be taxed on the entire partnership income . In general, see IRC § 704 (e) and Treas. Reg. 1.704-1(e). Subchapter K must be read in light of its relationship to IRC § 61, which requires, that income be taxed to the person who earned it through his or her own labor or skill and the utilization of his or her own capital. See Treas. Reg. 1.704-1(e)(1)(i). The partnership interest transferred by gift to a junior family member must be a complete transfer, in a bona fide transaction, and not a mere sham for tax avoidance or evasion purposes. See Treas. Reg. §1.704-1(e)(1)(iii). Assignment of income- the tax laws allow an assignment of income, but it is restricted to income from property and does not extent to income from services. See generally, the line of assignment of income cases, Helvering x. Xxxxx,, 000 X.X. 000 (1940) Whether capital is a material income producing factor is made by reference to all the facts and circumstances. However, some guidance is provided in the Regulations. Capital is a material income producing factor if a substantial portion of the gross income of the business is attributable to the employment of capital in the business, (e.g. substantial inventories, machinery, real estate, equipment, securities, cash. Capital is not a material income producing factor where income comes from fees, commissions, or other compensation for personal services performed by members or employees. See Treas.
FLP means First Leaside Properties Limited Partnership, a limited partnership formed under the laws of the Province of Ontario and governed by a limited partnership agreement dated as of November 16, 2005, as amended and restated on September 30, 2008. The general partner of FLP is FLP GP, the sole shareholder of which is David C. Phillips;
FLP means Harbxxxx Xxxily, L.L.P, a Texas limited liability partnership.
FLP means Fintube Limited Partnership, a Delaware Limited Partnership.