State Income Tax. To the extent permissible under applicable law, the relationship of the Members shall be treated for state income tax purposes in the same manner as it is for federal income tax purposes.
State Income Tax. The Members also agree that, to the extent permissible under applicable Law, their relationship shall be treated for state income tax purposes in the same manner as it is for Federal income tax purposes.
State Income Tax. For purposes of Section 3.2, the amount of state or local Income Taxes attributable to the FTD Business shall be as determined by United Online in a manner consistent with the principles set forth in
State Income Tax. For purposes of Section 2.03(a)(ii), the amount of State Income Taxes attributable to the Animal Health Business shall be as determined by Pfizer in a manner consistent with the principles set forth in Section 2.06(a).
State Income Tax. (i) For any Pre-Distribution Period or any Straddle Period, (A) with respect to any State Income Taxes relating to any ConocoPhillips State Combined Income Tax Return or any State Separate Income Tax Return filed or required to be filed under applicable Tax Law by any member of the ConocoPhillips Group, (I) Xxxxxxxx 66 shall be responsible for any and all State Income Taxes and any reduction in any Tax Benefit attributable to, or arising with respect to or as a result of, assets or activities of the Xxxxxxxx 66 Business, determined as reported on such Tax Return or as subsequently adjusted pursuant to a Final Determination (which, for the absence of doubt, means the State Income Taxes computed for the applicable entity using its respective apportionment factor and allocated to the Xxxxxxxx 66 Business pursuant to and consistent with the ConocoPhillips Past Practice); and (II) ConocoPhillips shall be responsible for any and all State Income Taxes and any reduction in any Tax Benefit other than State Income Taxes (and any reduction in Tax Benefits) for which Xxxxxxxx 66 is responsible pursuant to Section 2.03(a)(i)(A)(I); and (B) with respect to any State Income Taxes relating to any ConocoPhillips State Combined Income Tax Return or any State Separate Income Tax Return filed or required to be filed under applicable Tax Law by any member of the Xxxxxxxx 66 Group, (I) ConocoPhillips shall be responsible for any and all State Income Taxes and any reduction in any Tax Benefit attributable to, or arising with respect to or as a result of, assets or activities of the ConocoPhillips Business, determined as reported on such Tax Return or as subsequently adjusted pursuant to a Final Determination (which, for the absence of doubt, means the State Income Taxes computed for the applicable entity using its respective apportionment factor and allocated to the ConocoPhillips Business pursuant to and consistent with the ConocoPhillips Past Practice); and (II) Xxxxxxxx 66 shall be responsible for any and all State Income Taxes and any reduction in any Tax Benefit other than State Income Taxes (and any reduction in Tax Benefits) for which ConocoPhillips is responsible pursuant to Section 2.03(a)(i)(B)(I).
State Income Tax. Informational Tax Returns (Form 1099) will be issued with the Illinois Department of Revenue for personal services performed in Illinois by nonresidents specifically named in the contract.
State Income Tax. Though a Xxxx XXX is exempt from Federal income tax, you should consult with your tax advisor regarding proper reporting of Xxxx XXX earnings and contributions for state income tax purposes.
State Income Tax. With respect to any Section 2.3(a) Tax Returns, the amount of state or local Income Taxes allocable to Rightside shall be as determined by Demand Media in a manner consistent with the principles set forth under the heading “Federal Income Tax” above (for the avoidance of doubt, using the effective state or local corporate Income Tax rate applicable to the Demand Media Affiliated Group (or other group of Pre-Spin Members) for such applicable state or local jurisdiction, as the case may be).
State Income Tax. In North Carolina, a special income tax credit (i.e., dollar-for-dollar subtraction of owed income tax) equal to 25% of the fair market value of donated property (up to a maximum credit of $250,000 for individuals and $500,000 for corporations) is also available for gifts of land and conservation agreements made to qualified Donees. Any unused portion of the credit may be carried forward over the next five years and any remainder may be claimed as a regular charitable contribution deduction. The Donor must apply to the NC Department of Environment and Natural Resources for certification that the gift qualifies for conservation purposes in the public interest, and attach the certification to his or her tax return. Local Property Taxes North Carolina requires county tax assessors to consider the reduction in property value caused by the granting of any conservation agreement. The Donor should apply for a change in the ad valorem tax appraisal of land after an agreement is granted. How is the value of an agreement determined for tax purposes? An appraiser using the “before and after test” determines the value of a conservation agreement. That is, the value of the property as restricted by the conservation agreement is subtracted from the value of the property before the restrictions were granted. The difference between the two calculations is the value of the conservation agreement. Frequently, the presence of a park or other conservation property is an amenity to adjacent land, and actually results in added value to the adjoining land. If the granting of a conservation agreement has this effect on any property owned by the Donor or Donor‛s family, the appraiser must reduce the value of the donated conservation agreement by the amount of any benefit to the other property. A professional appraiser familiar with both the local real estate market and conservation agreements should undertake the appraisal. There are substantial penalties imposed on both the Donor and the appraiser for any overvaluation. Also, the Donor, appraiser, and the Grantee of the conservation agreement must all sign a special tax form in order for the Donor to claim a federal income tax deduction. 11 Can the land be subdivided, sold, mortgaged or bequeathed after an agreement is granted? Yes, you can sell, mortgage, or otherwise convey the property. However, the land will remain subject to the conservation agreement. For example: • the value of the land as security will be its value as res...
State Income Tax. The Venturers also agree that, to the extent possible under applicable law, their relationship shall be treated for state income tax purposes in the same manner as it is for Federal income tax purposes.
