Carryback Item definition

Carryback Item means any net operating loss, net capital loss, excess tax credit or other similar Tax item which may or must be carried from one taxable period to another taxable period under the Code or other applicable Tax law.
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Carryback Item shall have the meaning assigned to such term in Section 3.8(b) of this Agreement.
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Carryback Item means any net operating loss, unused general business credit or other Tax item that under the Code or other Domestic Income Tax law can be used to reduce the Domestic Income Tax liability of a taxable period preceding the taxable period in which such item is created.
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Examples of Carryback Item in a sentence

  • If any Distributing Group Member receives a refund or realizes a Tax Benefit as a result of a Carryback Item of any Controlled Group Member arising in a Post-Deconsolidation Period being carried back to a Pre- Deconsolidation Period, Distributing shall make a payment to Controlled in an amount equal to such refund or the realized Tax Benefit within 30 days following either the receipt of such refund or the filing of the Tax Return reflecting the realization of such Tax Benefit.

  • Ms Wendy KoppCEO & Co-founder, Teach For AllMs Wendy Kopp is CEO and Co-founder of Teach For All, a global network of independent organizations that are cultivating their nations’future leaders to ensure their most marginalized children have the chance to fulfill their true potential.


More Definitions of Carryback Item

Carryback Item means any net operating loss, net capital loss, unused general business tax credit, or any other Tax Item of the Entertainment Affiliated Group which under the Code or any other applicable Income Tax law can be used to generate a Tax Benefit for the SFX Affiliated Group.
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Carryback Item means any net operating loss, net capital loss, unused general business tax credit, or any other Income Tax Item of the Lakes Group that, under the Code or any other applicable Income Tax law, may be carried back to a Taxable Period, the Tax Return of which is required to be filed by Company under Section 2.
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Carryback Item shall have the meaning as described in Section 5.01(b) below.
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Carryback Item means any net operating loss, net capital loss, unused general business tax credit, or any other Tax item of the Unisource Affiliated Group which, under the Code or any other applicable Tax law, may be carried back and may generate a Tax Benefit for any member of the Alco Group.
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Carryback Item means any net operating loss, net capital loss, unused general business tax credit or any other Tax Item of the PHC Affiliated Group which under the Code or any other applicable Income Tax law can be used to generate a Tax Benefit for the BWI Affiliated Group.
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Carryback Item shall have the meaning as described in Section 5.01(b) below. "CCL" shall have the meaning as described in the preamble to this Agreement. "CCL Companies" shall mean, collectively, CCL and each Subsidiary of CCL, other than Covance and any Subsidiary of Covance. "CCL Distribution" shall mean the distribution by Corning to the Corning shareholders of the stock of CCL as more particularly described in the Transaction Agreement. "CCL Domestic Companies" shall mean, collectively, each CCL Company incorporated or organized under the laws of one of the respective States of the United States. "CCL Group" shall mean the affiliated group of corporations as defined in Section 1504(a) of the Code of which CCL is the common parent, not including Covance or any member of the Covance Group and determined as if the capital stock of CCL is widely held. "CCL Returns" shall have the meaning as described in Section 2.03 below. "CCL Return Period" shall mean a taxable period to which this Agreement applies and for which a CCL Return is filed. "CCL Separate Liability" shall have the meaning as described in Section 4.01. "CI Consolidated Return" shall mean any consolidated federal income tax return or amendment thereof of the CI Group which includes one or more of the CCL Domestic Companies or the Covance Domestic Companies.
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Related to Carryback Item

  • Carryback means any net operating loss, net capital loss, excess tax credit, or other similar Tax item which may or must be carried from one Tax Period to another Tax Period under the Code or other applicable Tax Law.

  • Tax Attribute means a net operating loss, net capital loss, unused investment credit, unused foreign Tax credit, excess charitable contribution, general business credit, research and development credit, earnings and profits, basis, or any other Tax Item that could reduce a Tax or create a Tax Benefit.

  • PRE-2017 NET OPERATING LOSS CARRYFORWARD means any net operating loss incurred in a taxable year beginning before January 1, 2017, to the extent such loss was permitted, by a resolution or ordinance of the Municipality that was adopted by the Municipality before January 1, 2016, to be carried forward and utilized to offset income or net profit generated in such Municipality in future taxable years.(B) For the purpose of calculating municipal taxable income, any pre-2017 net operating loss carryforward may be carried forward to any taxable year, including taxable years beginning in 2017 or thereafter, for the number of taxable years provided in the resolution or ordinance or until fully utilized, whichever is earlier.

  • Net Tax Benefit has the meaning set forth in Section 3.1(b) of this Agreement.

  • Tax Benefit means any refund, credit, or other reduction in otherwise required Tax payments.

  • Tax Detriment means an increase in the Tax liability (or reduction in refund or credit or any item of deduction or expense) of a Taxpayer for any taxable period. Except as otherwise provided in this Agreement, a Tax Detriment shall be deemed to have been realized or incurred from a Tax Item in a taxable period only if and to the extent that the Tax liability of the Taxpayer for such period, after taking into account the effect of the Tax Item on the Tax liability of such Taxpayer in the current period and all prior periods, is more than it would have been had such Tax liability been determined without regard to such Tax Item.

  • Joint Return means one return made jointly by a married individual with that individual's spouse.

  • Post-Distribution Tax Period means a Tax period beginning and ending after the Distribution Date.

  • Tax Attributes means net operating losses, capital losses, investment tax credit carryovers, earnings and profits, foreign tax credit carryovers, overall foreign losses, previously taxed income, separate limitation losses and any other losses, deductions, credits or other comparable items that could reduce a Tax liability for a past or future taxable period.

  • Net After-Tax Benefit means the Present Value of a Payment net of all federal state and local income, employment and excise taxes imposed on Executive with respect thereto, determined by applying the highest marginal rate(s) applicable to an individual for Executive’s taxable year in which the Change in Control occurs.

  • Tax Item means any item of income, gain, loss, deduction, credit, recapture of credit or any other item which increases or decreases Taxes paid or payable.

  • Basis Adjustment means the adjustment to the tax basis of an Original Asset under Sections 743(b) and 754 of the Code and comparable sections of state and local tax laws (as calculated under Section 2.01 of this Agreement) as a result of an Exchange and the payments made pursuant to this Agreement.

  • Pre-Distribution Tax Period means any taxable period (or portion thereof) that ends on or before the Distribution Date.

  • Hypothetical Tax Liability means, with respect to any Taxable Year, the liability for Taxes of the Corporation (or the Partnerships, but only with respect to Taxes imposed on the Partnerships and allocable to the Corporation) using the same methods, elections, conventions and similar practices used on the relevant Corporation Return but using the Non-Stepped Up Tax Basis instead of the tax basis reflecting the Basis Adjustments of the Adjusted Assets and excluding any deduction attributable to Imputed Interest.

  • Deconsolidation shall have the meaning provided in the Recitals.

  • Tax Loss means the taxable income or tax loss of the Trust, determined in accordance with Section 703(a) of the Code, for each Fiscal Year as determined for federal income tax purposes, together with each of the Trust's items of income, gain, loss or deduction which is separately stated or otherwise not included in computing taxable income and tax loss.

  • Tax Asset means any loss, net operating loss, net capital loss, investment tax credit, foreign tax credit, charitable deduction, or any other credit or Tax attribute that could be carried forward or carried back to reduce Taxes.

  • Simulated Loss means the excess, if any, of the Carrying Value of an oil or gas property (as defined in Section 614 of the Code) over the amount realized from the sale or other disposition of such property and determined pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv)(k)(2).

  • Pre-Deconsolidation Period means any taxable period beginning on or prior to the applicable Deconsolidation Date.

  • Combined Return means any Tax Return (other than a Tax Return for U.S. federal income taxes) filed on a consolidated, combined (including nexus combination, worldwide combination, domestic combination, line of business combination or any other form of combination) or unitary basis that includes activities of any member of the Anadarko Group and any member of the Partnership Group.

  • Tax Period means, with respect to any Tax, the period for which the Tax is reported as provided under the Code or other applicable Tax Law.

  • Tax Benefit Schedule is defined in Section 2.02 of this Agreement.

  • Waste load allocation means (i) the water quality-based annual mass load of total nitrogen or

  • Wasteload allocation or "wasteload" or "WLA" means the portion of a receiving surface water's loading or assimilative capacity allocated to one of its existing or future point sources of pollution. WLAs are a type of water quality-based effluent limitation.

  • Tax Liability means the total taxes due to a municipal corporation for the taxable year, after allowing any credit to which the taxpayer is entitled, and after applying any estimated tax payment, withholding payment, or credit from another taxable year.

  • Simulated Gain means the excess, if any, of the amount realized from the sale or other disposition of an oil or gas property (as defined in Section 614 of the Code) over the Carrying Value of such property and determined pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv)(k)(2).