BIG Tax definition
Examples of BIG Tax in a sentence
For purposes hereof, the BIG Tax shall be calculated based on the maximum combined effective U.S. federal, state, and local tax rate applicable to an individual resident of New York, New York, such rate determined at the time of the Pre-Closing.
Notwithstanding anything to the contrary contained in this Section, the Stockholders and Buyer shall each bear and pay 50% of all filing fees required to be paid under the HSR Act, in connection with the transactions contemplated hereby and, in accordance with Section 8.2, Buyer shall pay the fees of Buyer's and SRC's consultants relating to the determination of any built in gains tax or any BIG Tax Benefit, including the cost of any appraisal work commissioned and/or authorized by Buyer.
Any BIG Tax is and shall remain the obligation of the Corporation and the Buyer shall cause the Corporation to timely satisfy such obligation without contribution from, or indemnification by, the Shareholders.
SRC has paid any corporate level Taxes required to be paid by SRC in respect of all periods on or prior to the Closing Date that were due and payable on or prior to the Closing Date with the exception of the federal BIG Tax and any corporate level state taxes accrued in the normal course of SRC's business (without regard to the Election).