⚡IMPACT LEVEL 3 — NOTEWORTHY
Epstein File EFTA00584696: Holder, Large_file_1mb_plus and Construction (DS9)
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This document appears to be a legal or financial definition of 'Gross Asset Value', outlining how assets are valued for tax and accounting purposes. It describes methods for determining the initial value of assets contributed to a company, including using fair market value as determined by contributing members and managers.
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PersonKeyword
Excerpt 1
Value using any reasonable method selected by the Manager with the Consent of
the Members.
1.14 "Gross Asset Value" means, with respect to any asset,
Excerpt 2
the asset's
adjusted basis for federal income tax purposes, except as follows:
(a)
The initial Gross Asset Value of any asset contributed by a Member
to
Excerpt 3
the Company shall be the gross fair market value of such asset, as determined
by the contributing Member and the Manager;
(b)
The Gross Asset Values of
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