QSSS definition
Examples of QSSS in a sentence
Partner Company has made a valid and timely election for each of the QSSS Entities, if any, to be treated as a qualified subchapter S subsidiary pursuant to Section 1361(b)(3)(B) of the Code, effective in each case as the date reflected in Section 4.25(h) of the Partner Company Disclosure Schedule, and such elections continue to be effective.
Partner Company has made a valid and timely election for each of the QSSS Entities, if any, to be treated as a qualified subchapter S subsidiary pursuant to Section 1361(b)(3)(B) of the Code, effective in each case as of the date reflected in Section 4.25(h) of the Partner Company Disclosure Schedule, and such elections continue to be effective.
Neither Seller nor any QSSS Entity has taken any action which would terminate the qualified subchapter S subsidiary election of any of the QSSS Entities.
Neither UIS nor any UIS QSS Corp has filed any Tax Return that is inconsistent in any manner with the treatment of the applicable UIS QSS S Corp as a QSSS.
The Shareholder made an effective, valid and binding election to treat Recyc as a qualified subchapter S subsidiary ("QSSS") pursuant to Section 1361 of the Internal Revenue Code of 1986, as amended (the "Code"), effective January 1, 1998 (the "QSSS Election Date").
Since such election was made, each UIS QSS S Corp has been a QSSS for all relevant federal, state and local tax purposes.
Effective January 1, 2002 (the “QSSS Election Date”), each Subsidiary of RBI made a valid election to be taxed as a qualified subchapter S subsidiary (within the meaning of Section 1361(b)(3)(B) of the Code and similar election under state and local law, where applicable) (a “QSub”) and such election has at all times since the QSSS Election Date remained validly in effect.
Roanoke properly elected for federal, state and local income or franchise tax purposes to treat Chapco as a Qualified Subchapter S Subsidiary (as defined in Section 1361 of the Code) (“QSSS”), effective upon its acquisition of Chapco, Chapco has qualified as a QSSS at all times thereafter, and Roanoke has included the income of Chapco on its own Tax Returns.
As described in Section 3.13, Target is a Qualified Subchapter S-Corporation Subsidiary (a "QSSS") under the Code and, as a result, the sale of the Target Shares will be treated as a sale of the assets of Target for federal income tax purposes.
None of the Company, any of its Subsidiaries or, to the knowledge of the Company, any of the Cullman Shareholders has taken or caused or permitted to be taken any action that would cause, or would have caused, a termination of the S-Election or any QSSS Election for any period.