Reporting of Transactions in a Manner Consistent with Intended Tax Treatment Sample Clauses

The "Reporting of Transactions in a Manner Consistent with Intended Tax Treatment" clause requires parties to report transactions to tax authorities in a way that aligns with the tax treatment agreed upon in the contract. In practice, this means that both parties must file their tax returns and related documents reflecting the same characterization of the transaction, such as treating a payment as a royalty or a sale, as specified in the agreement. This clause ensures consistency in tax reporting, reducing the risk of disputes with tax authorities and between the parties regarding the proper tax treatment of the transaction.
Reporting of Transactions in a Manner Consistent with Intended Tax Treatment. (a) The Parties agree to treat the Separation Transactions in a manner consistent with the intended tax treatment of the Separation Transactions set forth in Section 2.01. Without limiting the foregoing, all Tax Returns prepared by or on behalf of any Party shall be prepared in a manner consistent with the intended tax treatment of the Separation Transactions set forth in Section 2.01, and no Party shall take any contrary or inconsistent position, whether in a Tax Return or otherwise, including any dealings involving the Internal Revenue Service (including, without limitation, any audit, administrative appeal or any judicial proceeding involving the Tax Returns of the Party or the tax treatment of any Party). (b) Notwithstanding Section 2.01 and Section 2.02(a), a Party shall not be bound by the obligations set forth therein: 1. if the Party determines in good faith, based upon the advice of counsel recognized as expert in such matters or a nationally recognized public accounting firm, that it is not “more likely than not” that such treatment would be upheld by court, provided that as a condition thereto, the Party receiving such advice shall have given written notice thereof to the Party (or Parties) that would be adversely affected by the change in the intended treatment of the transactions (together with a copy of that advice), and provided further that if, within thirty (30) days after the receipt thereof, the adversely affected Party provides the first Party an opinion of counsel recognized as expert in such matters or a nationally recognized public accounting firm, that it is “more likely than not” that such treatment would be upheld by court, then all Parties shall continue to be bound by Section 2.01 (other than Section 2.01(i)) and Section 2.02(a) with respect thereto; or 2. to the extent otherwise required by a Final Determination. (c) No later than thirty (30) days following the Distribution Effective Time, New Parkway shall provide to Cousins the information reasonably requested by Cousins to calculate the tax basis in the interests in Legacy Parkway LP deemed contributed to New Parkway as a result of the Issuance, as contemplated in Section 2.01(c) above. No later than sixty (60) days following the Distribution Effective Time, Cousins shall provide to New Parkway a statement, prepared in accordance with Section 2.01(g) above, with the gain proposed to be recognized by Cousins with respect to each asset deemed contributed to New Parkway in the ...
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Reporting of Transactions in a Manner Consistent with Intended Tax Treatment. The Parties agree to treat the Separation Transactions in a manner consistent with the Intended Tax Treatment. Without limiting the foregoing, and notwithstanding anything herein to the contrary, all Tax Returns prepared by or on behalf of any Party shall be prepared in a manner consistent with the Intended Tax Treatment, and no Party shall take any contrary or inconsistent position, whether in a Tax Return or otherwise, including any dealings involving the IRS (including, without limitation, any audit, administrative appeal or any judicial proceeding involving the Tax Returns of the Party or the tax treatment of any Party), except to the extent otherwise required by a Final Determination.
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Related to Reporting of Transactions in a Manner Consistent with Intended Tax Treatment

  • Equality of Treatment Unless otherwise provided in this Agreement, the persons specified in Article 3, who ordinarily reside in the territory of a Contracting State, shall receive equal treatment with nationals of that Contracting State in the application of the legislation of that Contracting State.

  • COMPLIANCE WITH TAX LAW SECTION 5-a The following provisions apply to Contractors that have entered into agreements in an amount exceeding $100,000 for the purchase of goods and services: a) Before such agreement can take effect, the Contractor must have on file with the New York State Department of Taxation and Finance a Contractor Certification form (ST-220-TD). b) Prior to entering into such an agreement, the Contractor is required to provide NYSERDA with a completed Contractor Certification to Covered Agency form (Form ST-220-CA). c) Prior to any renewal period (if applicable) under the agreement, the Contractor is required to provide NYSERDA with a completed Form ST-220-CA. Certifications referenced in paragraphs (b) and (c) above will be maintained by NYSERDA and made a part hereof and incorporated herein by reference. NYSERDA reserves the right to terminate this agreement in the event it is found that the certification filed by the Contractor in accordance with Tax Law Section 5-a was false when made.

  • How Are Contributions to a ▇▇▇▇ ▇▇▇ Reported for Federal Tax Purposes You must file Form 5329 with the IRS to report and remit any penalties or excise taxes. In addition, certain contribution and distribution information must be reported to the IRS on Form 8606 (as an attachment to your federal income tax return.)

  • Certification and Disclosure Regarding Payments to Influence Certain Federal Transactions (SEP 2007). This clause applies only if this contract exceeds (i) $100,000 if included in

  • Compliance with Certain Requirements of Regulations; Deficit Capital Accounts In the event the Company is “liquidated” within the meaning of Regulations Section 1.704-1(b)(2)(ii)(g), distributions shall be made pursuant to this Article X to the Unit Holders who have positive Capital Accounts in compliance with Regulations Section 1.704-1(b)(2)(ii)(b)(2). If any Unit Holder has a deficit balance in such Member’s Capital Account (after giving effect to all contributions, distributions and allocations for all Fiscal Years, including the Fiscal Year during which such liquidation occurs), such Unit Holder shall have no obligation to make any contribution to the capital of the Company with respect to such deficit, and such deficit shall not be considered a debt owed to the Company or to any other Person for any purpose whatsoever. In the discretion of the Liquidator, a pro rata portion of the distributions that would otherwise be made to the Unit Holders pursuant to this Article X may be: (i) distributed to a trust established for the benefit of the Unit Holders for the purposes of liquidating Company assets, collecting amounts owed to the Company, and paying any contingent or unforeseen liabilities or obligations of the Company, in which case the assets of any such trust shall be distributed to the Unit Holders from time to time, in the reasonable discretion of the Liquidator, in the same proportions as the amount distributed to such trust by the Company would otherwise have been distributed to the Unit Holders pursuant to Section 10.2 of this Agreement; or (b) withheld to provide a reasonable reserve for Company liabilities (contingent or otherwise) and to reflect the unrealized portion of any installment obligations owed to the Company, provided that such withheld amounts shall be distributed to the Unit Holders as soon as practicable.