Filing of Consolidated Returns Sample Clauses
The "Filing of Consolidated Returns" clause establishes the rules and permissions for a group of affiliated companies to file a single, combined tax return instead of individual returns for each entity. Typically, this clause outlines which entities are included in the consolidated group, who has the authority to file on behalf of the group, and how tax liabilities and refunds are allocated among the members. By allowing consolidated returns, the clause streamlines tax reporting, simplifies compliance, and can optimize the use of tax attributes such as losses or credits across the group, ultimately reducing administrative burden and potential tax liabilities.
Filing of Consolidated Returns. A consolidated Federal income tax return shall be filed by Parent for the taxable year ending December 31, 1996, and for each subsequent taxable period in respect of which this Agreement is in effect and for which the Affiliated Group is required or permitted to file a consolidated Federal income tax return.
Filing of Consolidated Returns. At TWDC's option, TWDC (or any other corporation in which TWDC directly or indirectly owns stock) may file, and Holding Company agrees to join (and, at the direction of TWDC, to cause any and all members of any Holding Company Group to join) in any such filing of a Consolidated Return for any taxable year (or portion thereof) for which such corporations are permitted or required to file a Consolidated Return.
Filing of Consolidated Returns. 4 2.1 Consent to File.................................................4 2.2 Cooperation.....................................................5
Filing of Consolidated Returns. (a) Parent shall, on a timely basis, file or cause to be filed, consolidated federal income tax returns and estimated tax returns for the Federal Tax Group for each taxable year during the term of this Agreement and shall pay in full any tax shown as due thereon. Each Member shall execute and file such consents, elections, and other documentation as may be required or appropriate for the proper filing of such returns. Each Member shall also maintain such books and records and provide such information as Parent may request in connection with the matters contemplated by this Agreement. The cost of preparing such tax returns and estimated tax returns shall be borne by each Member in the manner set forth in the Cost Allocation Agreement, dated December 31, 1990, as may be amended from time to time, entered into by certain parties that are Members of the Federal Tax Group.
(b) Parent shall have the right, in its sole discretion, to (i) make any elections which are employed in the filing of such returns, including any elections denominated as such in the Code and choice of methods of accounting and depreciation; (ii) determine the manner in which such returns shall be prepared and filed, including without limitation, the manner in which any item of income, gain, loss, deduction or credit shall be reported; (iii) contest, compromise or settle any adjustment or deficiency proposed or asserted as a result of any audit of any such returns; (iv) file, prosecute, compromise or settle any claim for refund; and (v) determine whether any refunds to which the Federal Tax Group may be entitled shall be paid by way of refund or credit against the federal income tax liability of the Federal Tax Group.
(c) Parent shall have the right, in its sole discretion, to elect to file combined or consolidated State Income Tax Returns with states that allow or require such combined or consolidated State Income Tax Returns for a State Tax Group(s). In such event, Parent shall pay in full any tax shown as due on such returns or estimates. Each Member shall execute and file such consents, elections, and other documentation as may be required or appropriate for the proper filing of such returns. Each Member shall also maintain such books and records and provide such information as Parent may request in connection with the matters contemplated by this Agreement. Parent shall have the right, in its sole discretion, to (i) make any elections which are employed in the filing of such returns, in...
Filing of Consolidated Returns. Synetic shall be responsible for ------------------------------ filing the consolidated income tax returns and for making all elections with respect thereto, for all periods during which the Company, PTC and its subsidiaries are members of the affiliated group of which Synetic is the common parent. The parties agree to cooperate with each other in the preparation of all required tax returns and in connection with the audit of such tax returns including making available to each other all applicable records and other documents pertinent thereto. Synetic shall not consent to any adjustments which would increase the tax liability of the Company, PTC and its subsidiaries without the consent of the Company, PTC and its subsidiaries, provided that Synetic may consent to such adjustments if it has the right to and does file a refund claim which preserves the right of the Company, PTC or such subsidiary to contest the adjustment.
Filing of Consolidated Returns. Holdings will file, and the Atrium Entities agree to join in the filing of, a Federal Consolidated Return for any taxable year (or portion thereof) for which such corporations are permitted or required to file a Federal Consolidated Return. In addition, each of the Atrium Entities agrees, at Holdings' direction, to join in any Other Consolidated Return for any taxable year (or portion thereof) for which such corporations are permitted or required to file a Consolidated Return.
Filing of Consolidated Returns. At Holding Company's option, Holding ------------------------------ Company (or any other entity designated by Holding Company) may file, and Company and Subsidiary agree to join in any such filing of, (i) a Federal Consolidated Return for any taxable year (or portion thereof) for which the Group is permitted or required to file a Federal Consolidated Return and/or (ii) any Other Consolidated Return for any taxable year (or portion thereof) for which the Group is permitted or required to file a Consolidated Return.
Filing of Consolidated Returns. MJD will file, and the Subsidiaries agree to join in the filing of, a Federal Consolidated Return for any taxable year (or portion thereof) for which such corporations are permitted or required to file a Federal Consolidated Return. In addition, each of the Subsidiaries agrees, at MJD's direction, to join in any Other Consolidated Return for any taxable year (or portion thereof) for which such corporations are permitted or required to file a Consolidated Return.
Filing of Consolidated Returns. FairPoint will file, and the Subsidiaries agree to join in the filing of, a Federal Consolidated Return for any taxable year (or portion thereof) for which such corporations are permitted or required to file a Federal Consolidated Return. In addition, each of the Subsidiaries agrees, at FairPoint's direction, to join in any Other Consolidated Return for any taxable year (or portion thereof) for which such corporations are permitted or required to file a Consolidated Return.
Filing of Consolidated Returns. The party responsible for preparing any Tax Returns pursuant to Sections 2.01 and 2.02 hereof shall be responsible for the filing of such Tax Returns and shall, subject to Section 2.06, pay any Tax shown thereon as due.