Printable Form 990 (Schedule R) El Monte California 2025

Printable Form 990 (Schedule R) El Monte California: What You Should Know

The total of this incentive amount is  12,500. THE PRESIDENT AND MONSIEUR LIZARRAGA, IN THEIR OWN RIGHT, SHALL GET A COLLATERAL INCOME OF  1,300 (2%) OF THE TOTAL PROFIT AMOUNTS USED TO DO THE INACTION OF SUCH PLAN IN CONNECTION WITH THIS INACTIVITY.  For 2025 fiscal year, this bonus is a contribution incentive and is to be used in the following manner: In the calendar year immediately following the calendar year in which the plan was terminated, the CEO and President (together with Michael Lizzy and Michael Lizzy's spouse of each respective kind, if any) shall, at their own expense, furnish an amount of personal cash at least equal to the greatest of: (A) 4,500 or (B) 35,000. If the amount furnished is 4,500 or less, then the CEO and President shall furnish, for each year in the twelve-year period after the year of termination of this plan (including the year following the year in which the plan was terminated), an amount equal to 4,500. FORM 990, PART VIII, SECTION B: PAYMENT OF TAXES AND DEDUCTIONS. For purposes of the tax laws, a corporation, partnership, sole proprietorship, and S Corporation shall be treated as one taxpayer. The term “covered corporation” shall mean any corporation which is an S Corporation on the last day of the taxable year for which it meets the definition of an S Corporation for federal income tax purposes, regardless of whether the covered corporation elects to be treated as a disregarded entity. The term “disqualified corporation” or “covered S corporation” shall mean a corporation and partnership which is not a disregarded entity for federal income tax purposes. The term “disqualified S corporation” shall mean an S corporation if-- (i) it meets the definition of a disregarded entity for federal income tax purposes, but only if it is a disregarded entity for state income tax purposes; or (ii) it would lose its status as a disregarded entity for federal income tax purposes if it were a disregarded entity for state income tax purposes.

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