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LLC Tax Allocation Clauses

Book Publication Date: Feb 2014
Description: A general partnership, limited partnership or LLC will want to ensure that members' capital accounts track their liquidation distribution priority. The sample operating agreement clauses included here allocate income and loss to maintain members' capital accounts at desired levels.
Type: Contract Clauses
PLI Item #: 61008
Practice Area: Corporate law, Corporate tax, Partnership tax, Real estate, Real estate taxes, Tax

Keywords: "target allocations savings clause"; "capital account savings clause"; "forced allocation"; tax; income; loss; "capital accounts"; "cash priorities"; "adjusted tax basis"; "adjusted book basis"; "joint venture"; 'tax-exempt entities"; "REIT"; "LLC"; partnership; "general partnership"; "limited partnership"; tax; "unrepaid capital contributions"

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