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A reasonable basis position will be more than arguable and based on at least one or more authorities of either state or federal tax administration. A position is considered to have a reasonable basis if a reasonable and well-informed analysis by a person knowledgeable in tax law would lead that person to conclude that the position has approximately a one-in-four, or greater, likelihood of being sustained on the merits. 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imposition of penalties).", "size": 234, "title": "Reasonable Basis", "id": "reasonable-basis", "examples": ["In the event that a Party shall determine that there is no <strong>Reasonable Basis</strong> for such Tax treatment, such Party shall notify the other Party no later than twenty (20) Business Days prior to filing the relevant Tax Return and the Parties shall attempt in good faith to agree on the manner in which the relevant portion of the Transactions shall be reported.", "The Tax treatment of any step in or portion of the Transactions shall be reported on each applicable Tax Return consistently with the treatment thereof in any Tax Opinion, taking into account the jurisdiction in which such Tax Returns are filed, unless there is no <strong>Reasonable Basis</strong> for such Tax treatment.", "In the event that a Party shall determine that there is no <strong>Reasonable Basis</strong> for such Tax treatment, such Party shall notify the other Party no later than twenty (20) Business Days prior to filing the relevant Tax Return and the Parties shall attempt in good faith to agree on the manner in which the relevant portion of the Reorganization shall be reported.", "Alternatively, Respondent may show through emissions testing that there is a <strong>reasonable basis</strong> for an engine switch under <strong>Reasonable Basis</strong> C.", "In the event that a Party shall determine that there is no <strong>Reasonable Basis</strong> for such Tax treatment, such Party shall notify the other Party no later than twenty (20) Business Days prior to filing the relevant Tax Return, and the Parties shall attempt in good faith to agree on the manner in which the relevant portion of the Transactions shall be reported on such Tax Return.", "The Tax treatment of any step in or portion of the Transactions shall be reported on each applicable Tax Return consistently with the Tax-Free Status of the Transactions, taking into account the jurisdiction in which such Tax Returns are filed, unless there is no <strong>Reasonable Basis</strong> for such Tax treatment.", "The Tax treatment of any step in or portion of the Transactions shall be reported on each applicable Tax Return consistently with the Tax Materials and the Tax-Free Status of the Transactions, taking into account the jurisdiction in which such Tax Return is filed, unless there is no <strong>Reasonable Basis</strong> for such Tax treatment.", "In the event that a Party shall determine that there is no <strong>Reasonable Basis</strong> for such Tax treatment, such Party shall notify the other Party no later than twenty (20) Business Days prior to filing the relevant Tax Return and the Parties shall attempt in good faith to agree on the manner in which the relevant portion of the Separation, the Reorganization, the Contribution or the Distribution (as applicable) shall be reported.", "We will use our judgment to prepare tax returns, tax elections (et al.) and to resolve questions where a tax law is unclear, following the standards of Due Diligence and <strong>Reasonable Basis</strong> set forth in Dept.", "KAR, all members of the KAR Group, Spinco and all members of the Spinco Group shall prepare all Tax Returns in accordance with such written notice unless there is not a <strong>Reasonable Basis</strong> for such determination or otherwise required by a Final Determination."], "related": [["eligible-basis", "Eligible Basis", "Eligible Basis"], ["interest-rate-basis", "Interest Rate Basis", "Interest Rate Basis"], ["reasonable-measures", "reasonable measures", "reasonable measures"], ["base-rate-basis", "Base Rate Basis", "Base Rate Basis"], ["substitute-basis", "Substitute Basis", "Substitute Basis"]], "related_snippets": [], "updated": "2026-06-03T05:49:28+00:00"}, "json": true, "cursor": ""}}