Sales Tax Revenue Sharing Sample Clauses

Sales Tax Revenue Sharing. City and County agree to share in the sales tax revenues for annexations of “significant developed commercial and/or industrial land” (as defined below). In those cases, sales tax revenues will be computed and shared on the following basis: To determine Base Value for the local sales tax revenue, Base Value for the 1st, 2nd and 3rd years equals total sales tax revenue from the 1% local sales tax collected in the 12 full calendar months following the effective date of the annexation and following the first and second anniversaries, respectively, so that the Base Value is established on the actual sales tax collected during the time between payments. 1st year County receives .80 of Base Value 2nd year County receives .50 of Base Value 3rd year County receives .20 of Base Value The County shall receive .15 directly from the State. The City will reimburse the difference (.65 Base Value 1st year, .35 Base Value 2nd year, and .05 Base Value 3rd year) to the County. The first payment from the City to the County shall be due and payable within ninety days of the first anniversary of the effective date of the annexation with subsequent payments due and payable within ninety days of the second and third anniversary dates of the effective date of the annexation. It is agreed that upon completion of payments as scheduled, each party will have been fairly, fully and adequately compensated for their respective annexation impacts under this section. For the purposes of this interlocal agreement “significant developed commercial and/or industrial land” shall be those properties which together generated $50,000 or more in annual sales tax revenue from the 1% local sales tax over the one year period prior to annexation. Said one year period shall include the 12 full calendar months preceding the effective date of the annexation. In these cases sales tax revenues will be computed and shared on the basis described above. The process for sales tax revenue sharing is set forth below:
Sample 1Sample 2
AutoNDA by SimpleDocs
Sales Tax Revenue Sharing. In consideration of the obligations and covenants of Developer contained herein, the Village agrees to rebate 50% of Sales Tax Revenue it actually receives from sales at the Grocery Store up to a maximum total $1,690,000.00, subject to the terms and conditions of this Agreement, including the terms and conditions of Exhibit C (Developer Incentives).
Sample 1

Related to Sales Tax Revenue Sharing

  • Xxxx Payments You may authorize new payment instructions or edit previously authorized payment instructions for xxxx payments that are either periodic and nonrecurring (e.g., payments on merchant charge accounts that vary in amount) or automatic and recurring (e.g., fixed mortgage payments). When you transmit a xxxx payment instruction to us, you authorize us to transfer funds to make the xxxx payment transaction from the account you designate. We will process xxxx payment transfer requests only to such payees as you authorize and for whom the Credit Union has the proper vendor code number. The Credit Union will not process any xxxx payment transfer if the required transaction information is incomplete. If there are insufficient funds in your account to make the xxxx payment request, we may either refuse to make the payment or make the payment and transfer funds from any overdraft protection account you have established. The Credit Union reserves the right to refuse to process payment instructions that reasonably appear to the Credit Union to be fraudulent or erroneous. The Credit Union will withdraw the designated funds from your account by 9:00am on the date of the scheduled payment if scheduled on a business day. If scheduled on a non-business day, the Credit Union will withdraw the funds by 9:00am on the first business day after the scheduled date. It is your responsibility to schedule your xxxx payments in such a manner that your obligations will be paid on time. You should enter and transmit your xxxx payment instructions at least 10 days before a xxxx is due. You are responsible for any late payments or finance charges that may be imposed as a result of your failure to transmit timely payment authorization. You may cancel or stop payment on periodic xxxx payments and automatic, recurring xxxx payment instructions under certain circumstances. If you discover an error in or want to change a payment instruction (e.g., payment date or payment amount) for a periodic or automatic payment you have already scheduled for transmission through online or mobile banking, you may electronically edit or cancel your payment through online or mobile banking. Your cancellation request must be entered and transmitted before the date you have scheduled for payment. If your request is not entered in time, you will be responsible for the payment. If you wish to place an oral stop payment on an automatic, recurring xxxx payment transaction, the Credit Union must receive your oral stop payment request at least three (3) business days before the next payment is scheduled to be made. You may call the Credit Union at the telephone number set forth in Section 4 (Member Liability) to request a stop payment. If you call, the Credit Union may require you to confirm your stop payment request in writing within 14 days after the call.

  • Sales Taxes The Seller shall bear and pay, and shall reimburse the Purchaser and the Purchaser’s affiliates for, any sales taxes, use taxes, transfer taxes, documentary charges, recording fees or similar taxes, charges, fees or expenses that may become payable in connection with the sale of the Assets to the Purchaser or in connection with any of the other Transactions.

  • SALES TAX Each Participating Entity is responsible for supplying the Supplier with valid tax- exemption certification(s). When ordering, a Participating Entity must indicate if it is a tax- exempt entity.

  • Value Added Tax (VAT Where appropriate, VAT will be added to the fees or charges on your selected unit trust portfolio.

Time is Money Join Law Insider Premium to draft better contracts faster.