Partnership Audit Procedures definition

Partnership Audit Procedures means Subchapter C of Chapter 63 of Subtitle F of the Code, as modified by Section 1101 of the Bipartisan Budget Act of 2015, Pub. L. No. 114-74, and any successor statutes thereto or Regulations promulgated thereunder.
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Partnership Audit Procedures means Code sections 6221 through 6241 and any successor statutes thereto or the Regulations promulgated thereunder.
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Partnership Audit Procedures has the meaning set forth in Section 20(f).
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Examples of Partnership Audit Procedures in a sentence

  • In connection with the foregoing, to the extent that the Company is assessed amounts under the Partnership Audit Procedures, each current or former Member to which the assessment relates shall remit to the Company, within 30 days’ written notice by the Partnership Representative, an amount equal to such Member’s allocable share of the assessment, including such Member’s allocable share of any interest imposed on the Company.

  • The Manager shall be the “tax matters partner” (as defined in Code Section 6231(a)(7)) and, for any taxable year of the Company for which the Company is subject to the Revised Partnership Audit Procedures, the Manager (or its designee) shall be the “partnership representative” (the tax matters partner or the partnership representative, as applicable, the “Tax Matters Representative”).

  • If the General Partner is the Partnership Representative, then prior to any voluntary withdrawal, sale, transfer, or assignment by the General Partner, it shall resign as Partnership Representative and designate the successor General Partner as the replacement Partnership Representative and shall take all necessary actions to effectuate its resignation in accordance with the Revised Partnership Audit Procedures.

  • For tax years beginning on or after January 1, 2018, Operator, or such other Person designated by the Board of Managers, shall serve as the “partnership representative” (the “Partnership Representative”) as provided in Code Section 6223(a) pursuant to the Revised Partnership Audit Procedures.

  • The Designated Individual may be removed by the Managing General Partner at any time permitted by the Revised Partnership Audit Procedures, and shall resign if directed to do so by the Managing General Partner.

  • For all Partnership taxable years beginning on or prior to December 31, 2017, the Partnership Representative shall have the duties of a “tax matters partner” (as in effect prior to the effective date of the Revised Partnership Audit Procedures) as required by the Code.

  • The budget message from the Town Administrator in conjunction with the Select Board shall explain the proposed budget for all Town agencies in fiscal terms and in terms of work programs.

  • With respect to Fiscal Years beginning on or before December 31, 2017, the Board of Managers hereby appoints Operator as the “tax matters partner” (as defined in Code Section 6231(a)(7) prior to enactment of the Revised Partnership Audit Procedures) (the “Tax Matters Member”), or such other Person designated by the Board of Managers.

  • For taxable years ending after December 31, 2017, the Manager shall have the right to be or to appoint the Company’s “partnership representative” and, if applicable, the designated individual within the meaning of Code Section 6223 (the “Partnership Representative”) with sole authority to act on behalf of the Company for purposes of the Partnership Audit Procedures.

  • If possible, the Manager shall opt out of the Revised Partnership Audit Procedures.


More Definitions of Partnership Audit Procedures

Partnership Audit Procedures means Subchapter C of Chapter 63 of the Code, as modified by Section 1101 of the Bipartisan Budget Act of 2015, Pub. L. No. 114-74, any amended or successor version, Treasury Regulations promulgated thereunder, official interpretations thereof, related notices or other related administrative guidance.
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Related to Partnership Audit Procedures

  • BBA Partnership Audit Rules means Sections 6221 through 6241 of the Code, and any regulations promulgated or proposed under any such Sections and any administrative guidance with respect thereto.

  • AML/KYC Procedures means the customer due diligence procedures of a Reporting Finnish Financial Institution pursuant to the anti-money laundering or similar requirements of Finland to which such Reporting Finnish Financial Institution is subject.

  • customs procedures means the treatment applied by the customs administration of each Party to goods which are subject to customs control.

  • MERS Procedures Manual The MERS Procedures Manual, as it may be amended, supplemented or otherwise modified from time to time.

  • railway operational procedures means procedures specified under any access agreement (as defined in the Railways Act 1993) or station lease;

  • Partnership Tax Audit Rules means Sections 6221 through 6241 of the Code, together with any final or temporary Treasury Regulations, Revenue Rulings and case law interpreting Sections 6221 through 6241 of the Code (and any analogous provision of state or local tax Law).

  • Staff Vetting Procedures means the Authority’s procedures for the vetting of personnel and as advised to the Contractor by the Authority.

  • Administrative Procedures means the Administrative Procedures of Minnesota Management & Budget developed in accord with M.S. 43A.04, subdivision 4.

  • Audit Report means a report summarising the testing completed and the actions arising following an Audit;

  • Standard Operating Procedures or “SOP” means the procedures as specified in the Annexes or Attachments to the relevant Schedules;

  • Settlement Procedures means the Settlement Procedures attached hereto as Exhibit A.

  • Policies and Procedures means the written policies and procedures of the Client in any way related to the Services, including any such policies and procedures contained in the Organic Documents and the Offering Documents.

  • Elective Treatment and Procedures means any medical treatment or surgical procedure that is not medically necessary, including any service, treatment, or supplies that are deemed by the federal, or a state or local government authority, or by Us to be research or experimental or that is not recognized as a generally accepted medical practice.

  • Sale Procedures Unless otherwise specified in the Supplement, shall mean that, with respect to any sale of one or more Underlying Securities or Related Assets, the Market Agent, on behalf of the Trust, shall sell such Underlying Securities or Related Assets to the highest bidders among not less than two solicited bidders for such Underlying Securities or Related Assets (one of which bidders may include Merrill Lynch & Co. or any Affiliate thereof; provided, however, that xxxxxxr Xxxxill Lynch & Co. nor any of its Affiliates will be under any obligxxxxx xo xxx, and which bidders need not be limited to recognized broker dealers). In the sole judgment of the Market Agent, bids may be evaluated on the basis of bids for a single Underlying Security or Related Asset, a portion of the Underlying Securities or Related Assets, or all of the Underlying Securities or Related Assets being sold or any other basis selected in good faith by the Market Agent.

  • Associated Procedures means those procedures and/or statements that have been adopted by the Underwriter, the Adviser, a Fund or the Compliance Department, and which are designed to supplement this Code and its provisions.

  • Reconciliation Procedures has the meaning set forth in Section 2.3(a) of this Agreement.

  • Accounting Procedure means the principles and procedures of accounting set out in Appendix C.

  • Dissent Procedures has the meaning set out in Section 3.1;

  • Procedures Manual means the standards and procedures manual described in Section 11.3.

  • Staff Vetting Procedure means the Authority’s procedures for the vetting of personnel and as advised to the Contractor by the Authority.

  • Ordering Procedures means the ordering and award procedures specified in Clause 6 (Ordering Procedures) and Framework Schedule 5 (Ordering Procedure);

  • Rules of order and procedure means a set of rules that govern and prescribe in a public meeting:

  • Spatial Planning and Land Use Management Act means the Spatial Planning and Land Use Management Act, 2013 (Act 16 of 2013);

  • Bidding Procedures means the procedures governing the Auction and sale of all or substantially all of the Debtors’ assets, as approved by the Bankruptcy Court and as may be amended from time to time in accordance with their terms.

  • Remarketing Procedures means the procedures for conducting Remarketings set forth in Part II of these Articles Supplementary.