Section 754 Election
Description
This smart field captures a right of the general partner or manager to make the election under section 754 of the U.S. Internal Revenue Code to adjust the basis of the partnership/company’s assets when partnership/company property is distributed or an interest in the partnership/company is transferred.
Jurisdiction
- United States (California, Delaware, and Texas)
Document Types
- 97% Governance Agt
- 3% Other
Tags
- LPA/LLC
Language
- 100% English