elect

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elect

1. voted into office but not yet installed
2. Christianity
a. selected or predestined by God to receive salvation; chosen
b. (as collective noun; preceded by the): the elect
References in periodicals archive ?
If a large LLC elects to pay the imputed tax, the LLC, not the members, is subject to the interest thereon, as well as any penalties.
With a medical expense reimbursement benefit, for example, it is nondiscriminatory if highly compensated employees may elect no more than non-highly compensated employees, regardless of how much either group actually elects.
As set forth in the Company's Articles of Incorporation, as amended, the holders of the Company's preferred stock are entitled to elect two directors to the Board of Directors of the Company, each to serve until the earlier of (a) the date upon which (i) the consolidated shareholders' equity of the Company at the end of any subsequent calendar quarter equals or exceeds 150% of the aggregate liquidation preference of the then outstanding preferred stock and (ii) quarterly dividends on the Series A, Series B and Series C preferred stock are current, or (b) the next annual meeting of the shareholders of the Company and until their successors are elected and duly qualified.
1361 does not allow certain types of corporations to elect S status, including certain financial institutions, insurance companies, foreign corporations and corporations electing Sec.
Many taxpayers are unaware of the distribution options they can elect to satisfy the required minimum distribution rules.
Combination category 2/3 transfer: Statement: T hereby elects that the automatic allocation rules will not apply to any transfers by T to B in 2006 or to any additional transfers T may make to B in subsequent years.
2513, spouses may elect to treat a gift made by one spouse to a third person as if the gift had been made one-half by each.
Also, if the head-of-household spouse elects to itemize deductions, the general limit of Sec.
The taxpayer formally elects to amortize the discount and properly includes the annual amortization as additional ordinary income.
Beginning in 1998, an individual engaged in a farming business can elect to treat all or a portion of his taxable income attributable to farming as "elected farm income.
Corporation elects to file as 1120 Corporation in [tax year].
QTIP qualifies for the marital deduction if and to the extent that the decedent's executor elects.