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Gross Income Allocation

Description

This AI field captures a requirement that any partner or member who has a capital account deficit at the end of the fiscal year be specially allocated items of gross income and gain to the extent of such deficit.

Jurisdiction
  • United States (California, Delaware, Pennsylvania, and Texas)
Document Types
  • 98% Governance Agt
  • 2% Other
Tags
  • LPA/LLC
Language
  • 100% English