Applicable Tax Rate definition

Applicable Tax Rate means (a) 40% or (b) if, at the time of the relevant distribution described in Section 7.6(f) herein, the highest combined federal, state and local marginal rate applicable to corporate taxpayers residing in New York City, New York, taking into account the deductibility of state and local income taxes for federal income tax purposes shall exceed 40%, such higher rate.

Applicable Tax Rate means the estimated highest aggregate marginal statutory U.S. federal, state and local income, franchise and branch profits tax rates (determined taking into account the deductibility of state and local income taxes for federal income tax purposes and the creditability or deductibility of foreign income taxes for federal income tax purposes) (“Tax Rate”) applicable to any Partner on income of the same character and source as the income allocated to such Partner pursuant to Sections 5.04(a) and (b) for such fiscal year, fiscal quarter or other period, as determined by the Tax Matters Partner in its discretion; provided that, in the case of a Partner that is a partnership, grantor trust or other pass-through entity under U.S. federal income tax law, the Tax Rate applicable to such Partner for purposes of determining the Applicable Tax Rate shall be the weighted average of the Tax Rates of such Partner’s members, grantor-owners or other beneficial owners (weighted in proportion to their relative economic interests in such Partner), as determined by the Tax Matters Partner in its discretion; provided, further, that if any such member, grantor-owner or other beneficial owner of such Partner is itself a partnership, grantor trust or other pass-through entity similar principles shall be applied by the Tax Matters Partner in its discretion to determine the Tax Rate of such member, grantor-owner or other beneficial owner.

Applicable Tax Rate means, with respect to a Tax Year, the combined federal, state and local income tax rate (giving effect to the deductibility of state and local income taxes for federal income tax purposes) that would have applied to the Company during such Tax Year if it were a corporation for U.S. federal income tax purposes.

Examples of Applicable Tax Rate in a sentence

• Such evidence shall not be used to determine the Applicable Tax Rate, but only to demonstrate an entitlement to tax compensation.

• If the Applicable Tax Rate exceeds 40%, a maximum of 40% shall be applied.

• The Applicable Tax Rate shall be determined by reference to the income tax rate applicable on the Base Rate payable to a legal representative as calculated under §§13.8 and 13.9. Actual income earned by the legal representative from other sources, and its impact on the rate of income tax actually payable, shall not be taken into account when determining the applicable Applicable Tax Rate.

• Notwithstanding the form of ownership of a Business Unit, such computation shall be made as though each Business Unit was a separate corporation filing a separate return of taxable income which was taxed at the Applicable Tax Rate, as determined with respect to such Business Unit.

• In determining whether the Distribution Hurdle will be met on an after-tax basis, the cumulative distributions by the General Partner to the QDII and the US L.P. will be reduced by U.S. taxes using the Agreed Applicable Tax Rate and take into account any other tax deductible expenditures incurred by the QDII and US L.P.

More Definitions of Applicable Tax Rate

Applicable Tax Rate means, as to any given Taxable Event, the Tax Rate applicable to income having the same character as that arising from such Taxable Event, for example, by way of illustration and not limitation, (i) the Tax Rate applicable to ordinary income if the Taxable Event gave rise to ordinary income, (ii) the Tax Rate applicable to long-term capital gain if the Taxable Event gave rise to long-term capital gain, or (iii) the Tax Rate applicable to unrecaptured section 1250 gain if the Taxable Event gave rise to unrecaptured section 1250 gain.

Applicable Tax Rate means the combination of the highest state and Federal tax rates payable by individuals who are resident in Massachusetts, applied by taking into account the character of the taxable income in question (e.g., long-term capital gains, ordinary income, etc.), as reasonably determined by the Manager. Distributions made pursuant to paragraph 7.4 shall be deemed advances under, and shall reduce the distributions to be made under, the relevant provisions of paragraph 7.5.

Applicable Tax Rate means the estimated highest aggregate marginal statutory U.S. federal, state and local income, franchise and branch profits tax rates (determined taking into account the deductibility of state and local income taxes for federal income tax purposes and the creditability or deductibility of foreign income taxes for federal income tax purposes) (“ Tax Rate ”) applicable to any Partner on income of the same character and source as the income allocated to such Partner pursuant to Section 5.04(a) and (b) for such fiscal year, fiscal quarter or other period, as determined by the Tax Matters Partner in its discretion; provided that, in the case of a Partner that is a partnership, grantor trust or other pass-through entity under U.S. federal income tax law, the Tax Rate applicable to such Partner for purposes of determining the Applicable Tax Rate shall be the weighted average of the Tax Rates of such Partner’s members, grantor-owners or other beneficial owners (weighted in proportion to their relative economic interests in such Partner), as determined by the Tax Matters Partner in its discretion; provided , further , that if any such member, grantor-owner or other beneficial owner of such Partner is itself a partnership, grantor trust or other pass-through entity, similar principles shall be applied by the Tax Matters Partner in its discretion to determine the Tax Rate of such member, grantor-owner or other beneficial owner.

Applicable Tax Rate shall have the meaning set forth in ------------------- Section 6.18(a).

Applicable Tax Rate means the then applicable statutory U.S. federal corporate tax rate applicable to EchoStar for the Applicable Year; provided, however, that such rate shall be 35% for any Applicable Year if the then applicable statutory U.S. federal corporate tax rate applicable to EchoStar for such Applicable Year exceeds 35%.

Applicable Tax Rate means, in respect of any particular Tax Determination Year, a percentage equal to the highest marginal United States federal income tax rate applicable to an individual in respect of such Tax Determination Year as determined by the Tax Amounts CPA.

Applicable Tax Rate means the combined effective federal, state and local income tax rate applicable to the Members as determined by the Manager (assuming that all of the Members are individuals paying taxes at the maximum applicable federal income tax rates and a 5% combined state and local income tax rate).