Common use of C Short Year Clause in Contracts

C Short Year. Pursuant to Section 1362(e)(1)(B) of the Code, that portion of the S Termination Year of the Company beginning on the Termination Date and ending on the last day of the 1998 fiscal year, shall be the C Short Year of the Company. For federal income tax purposes, the Company will be taxed as a C corporation during its C Short Year.

Appears in 1 contract

Sources: S Corporation Tax Allocation and Indemnification Agreement (American Aircarriers Support Inc)

C Short Year. Pursuant to Section 1362(e)(1)(B) of the Code, that portion of the S Termination Year of the Company beginning on the Termination Date and ending on the last day of the 1998 1997 fiscal year, shall be the C Short Year of the Company. For federal income tax purposes, the Company will be taxed as a C corporation during its C Short Year.

Appears in 1 contract

Sources: Corporation Tax Allocation and Indemnification Agreement (Paper Warehouse Inc)

C Short Year. Pursuant to Section 1362(e)(1)(B) of the Code, that portion of the S Termination Year of the Company beginning on the Termination Date and ending on the last day of the 1998 1997 fiscal year, year shall be the C Short Year of the Company. For federal income tax purposes, the Company will be taxed as a C corporation during its C Short Year.

Appears in 1 contract

Sources: S Corporation Tax Allocation and Indemnification Agreement (Omega Research Inc)