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.
If the taxpayer elects the fixed-numberof-years method and his or her estate is the named beneficiary, at the taxpayer's death the estate can assign the remaining installments to the estate's beneficiaries to avoid prolonged estate administration.
2632-1, the taxpayer elects to allocate the smallest amount of the taxpayer's GST exemption necessary to provide a zero inclusion ratio (as defined in Set.
In addition, if the spouse who files as married filing separately elects to itemize deductions, may the spouse who files as head of household claim the standard deduction for head of household status?
If the taxpayer elects to include the amortization of the discount as current-year income, Sec.
This option potentially results in the constructive receipt of income in 1998, even if the taxpayer elects to receive the payments in 1999.
Also, if a shareholder owns brother-sister S corporations, contributes stock of one to the other and elects QSSS status for the new subsidiary, the step-transaction doctrine may make this group of transactions taxable.
QTIP qualifies for the marital deduction if and to the extent that the decedent's executor elects.