Combined Tax Rate definition

Combined Tax Rate means, with respect to any Fiscal Year, the highest combined U.S. federal, state and local income tax rates applicable to individuals residing in New York, New York, United States of America (taking into account the character of the income), plus, if applicable, the rate of any entity level taxes applicable to the General Partner.
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Combined Tax Rate means the sum of (a) the Federal Rate, (b) the State Rate, (c) the OASDI Rate, and (d) the HI Rate; provided, however, that the OASDI Rate and/or the HI Rate (as applicable) shall not be included in the Combined Tax Rate to the extent, on the Payment Date, the Bank is not required to withhold FICA taxes based on one or both of such rates; and provided further, that the Committee may from time to time in its discretion revise the definition of Combined Tax Rate to reflect changes in the tax laws (other than changes in one or more of the Federal Rate, State Rate, OASDI Rate or HI Rate) applicable to the payment of Benefits hereunder, insofar as such changes would affect the personal tax obligations of the Eligible Officer receiving the Benefit.
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Combined Tax Rate means the highest Federal marginal rate applicable to widely held corporations for the applicable year plus an assumed state and local income tax rate of 3.5%.
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Examples of Combined Tax Rate in a sentence

  • An appeal on this rate determination may be made within 30 days of the date of the Combined Tax Rate Notice in accordance with Section 48-650 of the Nebraska Employment Security Law.

  • CD: Weighted Cost of Debt as defined in Section 6.13.TR: Combined Tax Rate as defined in Section 6.13.DL: Number of Days Lag from the purchase of gas from suppliers to the payment by customers.A:TPvolr: Annual Throughput volumes for residential sector.

  • TR: Combined Tax Rate as defined in Section 6.13.DRA: Distribution Revenue Allocator as defined in Section 6.13.

  • CD: Weighted Cost of Debt as defined in Section 6.13.TR: Combined Tax Rate as defined in Section 6.13.DL: Number of Days Lag from the purchase of gas from suppliers to the payment by customers.DRA: Distribution Revenue Allocator as defined in Section 6.13.r-c: Designates a separate factor for the residential and commercial sectors as part of the Company’s EE programs.

  • The Tax shall continue at the above rates during the current Tax Year and each Tax Year thereafter, without annual re-enactment, until this En- actment is repealed or the rate is changed.4. Combined Tax Rate Applicable to Residents.

  • TR: Combined Tax Rate as defined in Section 6.13.DL: Number of Days Lag from the purchase of gas from suppliers to the payment by customers.DRA: Distribution Revenue Allocator as defined in Section 6.13.

  • To the extent Carried Interest distributed to the General Partner in any Fiscal Year is less than an amount equal to the product of (i) the taxable income allocated to the General Partner in respect of Carried Interest in respect of such Fiscal Year, and (ii) the Combined Tax Rate (the difference being referred to hereafter as a “Shortfall”), then the General Partner will be entitled to receive an advance (a “Tax Advance”) in an amount equal to such Shortfall.

  • If an Eligible Officer’s employment terminates by reason of Retirement, the benefit amount shall be equal to the quotient obtained by dividing (i) the Full Benefit, by (ii) the difference obtained by subtracting the Combined Tax Rate (expressed as a decimal) from one.

  • Project Name:Ponderosa Wind II, LLC 6162 Inputs from Attachment H22.70%21.00%2.15%63 Combined Tax Rate (Att.

  • If an Eligible Officer’s employment terminates for any reason other than Retirement or death (e.g., by reason of disability, resignation or involuntary discharge prior to age 65), the benefit amount shall be equal to the quotient obtained by dividing (i) the Pre-Retirement Benefit, by (ii) the difference obtained by subtracting the Combined Tax Rate (expressed as a decimal) from one.


More Definitions of Combined Tax Rate

Combined Tax Rate for a given year shall be equal to (a) the greater of the highest corporate federal income tax rate or the highest individual federal tax rate (including any surtax on high income taxpayers) for such year ("Federal Rate") plus (b) the greater of the highest state corporate franchise income tax rate or the sum of (i) the highest individual state income tax rate for such year and (ii) the corporate franchise income tax on Subchapter S Corporations ("State Rate") less (c) an amount equal to the product of (i) the Federal Rate and (ii) the State Rate. For example, if the Federal Rate is 40% and the State Rate is 10%, the Combined Tax Rate is 46% [40% +
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Combined Tax Rate means the sum of the tax rates imposed on a transaction described in Subsection 59-12-103(1) under:
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Related to Combined Tax Rate

  • Combined Tax Return means a Tax Return filed in respect of U.S. federal, state, local or non-U.S. income Taxes for a Combined Group, or any other affiliated, consolidated, combined, unitary, fiscal unity or other group basis (including as permitted by Section 1501 of the Code) Tax Return of a Combined Group.

  • Assumed Tax Rate means the highest effective marginal combined U.S. federal, state and local income tax rate for a Fiscal Year prescribed for an individual or corporate resident in New York, New York (taking into account (a) the nondeductiblity of expenses subject to the limitation described in Section 67(a) of the Code and (b) the character (e.g., long-term or short-term capital gain or ordinary or exempt income) of the applicable income, but not taking into account the deductibility of state and local income taxes for U.S. federal income tax purposes). For the avoidance of doubt, the Assumed Tax Rate will be the same for all Partners.

  • Agreement combined tax rate means the sum of the tax rates:

  • Rollback tax rate means the rate that will produce last year’s maintenance and operation tax levy (adjusted) from this year’s values (adjusted) multiplied by 1.08 plus a rate that will produce this year’s debt service from this year’s values (unadjusted) divided by the anticipated tax collection rate.

  • Presumed Tax Rate means the highest effective marginal statutory combined U.S. federal, state and local income tax rate prescribed for an individual residing in New York City (taking into account (i) the deductibility of state and local income taxes for U.S. federal income tax purposes, assuming the limitation of Section 68(a)(2) of the Code applies and taking into account any impact of Section 68(f) of the Code, and (ii) the character (long-term or short-term capital gain, dividend income or other ordinary income) of the applicable income).

  • Consolidated Tax Expense means, for any period, the tax expense of Borrower and its Subsidiaries, for such period, determined on a consolidated basis in accordance with GAAP.

  • Effective tax rate means the rate that will produce last year’s total tax levy (adjusted) from this year’s total taxable values (adjusted). “Adjusted” means lost values are not included in the calculation of last year’s taxes and new values are not included in this year’s taxable values.

  • Tax Rate means the rate imposed under section 51 of the income tax act of 1967, 1967 PA 281, MCL 206.51, for the tax year in which the tax year of the taxpayer for which the credit is being computed begins.

  • 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.

  • Consolidated Taxes means, with respect to any Person for any period, the provision for taxes based on income, profits or capital, including, without limitation, state, franchise, property and similar taxes, foreign withholding taxes (including penalties and interest related to such taxes or arising from tax examinations) and any Tax Distributions taken into account in calculating Consolidated Net Income.

  • Marginal Tax Rate means the maximum marginal regular Federal individual income tax rate applicable to ordinary income or the maximum marginal regular Federal corporate income tax rate, whichever is greater.

  • Consolidated federal taxable income means the consolidated taxable income of an affiliated group of corporations, as computed for the purposes of filing a consolidated federal income tax return, before consideration of net operating losses or special deductions. "Consolidated federal taxable income" does not include income or loss of an incumbent local exchange carrier that is excluded from the affiliated group under division (A)(1) of this section.

  • Cumulative Net Realized Tax Benefit for a Taxable Year means the cumulative amount of Realized Tax Benefits for all Taxable Years of the Corporate Taxpayer, up to and including such Taxable Year, net of the cumulative amount of Realized Tax Detriments for the same period. The Realized Tax Benefit and Realized Tax Detriment for each Taxable Year shall be determined based on the most recent Tax Benefit Schedule or Amended Schedule, if any, in existence at the time of such determination.

  • Net Taxable Income has the meaning set forth in Section 4.01(b)(i).

  • Recovered tax increment value means, except as otherwise

  • Assumed Tax Liability means, with respect to any Member, an amount equal to the excess of (i) the product of (A) the Distribution Tax Rate multiplied by (B) the estimated or actual cumulative taxable income or gain of the Company, as determined for federal income tax purposes, allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, less prior losses of the Company allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, in each case, as determined by the Manager and to the extent such prior losses are available to reduce such income over (ii) the cumulative Tax Distributions made to such Member after the closing date of the IPO pursuant to Sections 4.01(b)(i), 4.01(b)(ii) and 4.01(b)(iii) and, if applicable with respect to such Fiscal Year, pursuant to Section 4.1(a) of the Previous LLC Agreement; provided that, in the case of the Corporation, such Assumed Tax Liability (x) shall be computed without regard to any increases to the tax basis of the Company’s property pursuant to Sections 734(b) or 743(b) of the Code and (y) to the extent permitted under the Credit Agreements and applicable Law, shall in no event be less than an amount that will enable the Corporation to meet both its tax obligations and its obligations pursuant to the Tax Receivable Agreement for the relevant Taxable Year; provided further that, in the case of each Member, and for the avoidance of doubt, such Assumed Tax Liability shall take into account any Code Section 704(c) allocations (including “reverse” 704(c) allocations) to the Member.

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

  • Realized Tax Detriment means, for a Taxable Year, the excess, if any, of the Actual Tax Liability over the Hypothetical Tax Liability. If all or a portion of the actual liability for such Taxes for the Taxable Year arises as a result of an audit by a Taxing Authority of any Taxable Year, such liability shall not be included in determining the Realized Tax Detriment unless and until there has been a Determination.

  • Excluded Tax means any of the following Taxes imposed on or with respect to any Recipient or required to be withheld or deducted from a payment to a Recipient (a) Taxes imposed on or measured by net income (however denominated, and including branch profits taxes) and franchise taxes, in each case (i) imposed as a result of such Recipient being organized under the Laws of, or having its principal office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) imposed on any Recipient as a result of a present or former connection between such Recipient and the jurisdiction of the Governmental Authority imposing such Tax or any political subdivision or taxing authority thereof or therein (other than such connection arising from any such Recipient having executed, delivered, become a party to, performed its obligations or received a payment under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced, any Credit Document, or sold or assigned an interest in any Credit Document or Loan); (b) in the case of a Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a Law in effect on the date on which such Lender (i) acquires such interest in the Loan or Commitment or otherwise becomes a party to this Agreement (other than pursuant to an assignment request by the Borrower under Section 2.23) or (ii) changes its lending office, except in each case, to the extent that, pursuant to Section 2.20, amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its lending office; (c) Taxes that are attributable to the failure by any Recipient to deliver the documentation required to be delivered pursuant to Section 2.20(f) or Section 2.20(g); and (d) Taxes imposed under FATCA.

  • Pre-Tax Income means income, as determined by GAAP, prior to deduction of the Bonus Pool (as hereinafter defined) and income taxes, and if applicable, after the deduction of any bonus pool of a future officer bonus plan adopted by the Company relating to an applicable Award Year and adjustments approved by the Board as described herein.

  • Consolidated Tangible Net Assets means, on any date of determination and with respect to any Person at any time, the total of all assets (including revaluations thereof as a result of commercial appraisals, price level restatement or otherwise) appearing on the consolidated balance sheet of such Person and its Consolidated Subsidiaries most recently delivered to the Lenders pursuant to Section 5.01(i) as of such date of determination, net of applicable reserves and deductions, but excluding goodwill, trade names, trademarks, patents, unamortized debt discount and all other like intangible assets (which term shall not be construed to include such revaluations), less the aggregate of the consolidated current liabilities of such Person and its Consolidated Subsidiaries appearing on such balance sheet.

  • Net After Tax Amount means the amount of any Parachute Payments or Capped Payments, as applicable, net of taxes imposed under Code Sections 1, 3101 (b) and 4999 and any State or local income taxes applicable to the Executive on the date of payment. The determination of the Net After Tax Amount shall be made using the highest combined effective rate imposed by the foregoing taxes on income of the same character as the Parachute Payments or Capped Payments, as applicable, in effect on the date of payment.

  • Actual Tax Liability means, with respect to any Taxable Year, the liability for Covered Taxes of the Corporation (a) appearing on Tax Returns of the Corporation for such Taxable Year and (b) if applicable, determined in accordance with a Determination (including interest imposed in respect thereof under applicable law).

  • Book-Tax Disparity means with respect to any item of Contributed Property or Adjusted Property, as of the date of any determination, the difference between the Carrying Value of such Contributed Property or Adjusted Property and the adjusted basis thereof for federal income tax purposes as of such date. A Partner’s share of the Partnership’s Book-Tax Disparities in all of its Contributed Property and Adjusted Property will be reflected by the difference between such Partner’s Capital Account balance as maintained pursuant to Section 5.5 and the hypothetical balance of such Partner’s Capital Account computed as if it had been maintained strictly in accordance with federal income tax accounting principles.

  • Consolidated Income Tax Expense means, with respect to any Person for any period, the provision for federal, state, local and foreign income taxes of such Person and its Restricted Subsidiaries for such period as determined on a consolidated basis in accordance with GAAP.

  • After Tax Amount means the amount of the Aggregate Payments less all federal, state, and local income, excise and employment taxes imposed on the Executive as a result of the Executive’s receipt of the Aggregate Payments. For purposes of determining the After Tax Amount, the Executive shall be deemed to pay federal income taxes at the highest marginal rate of federal income taxation applicable to individuals for the calendar year in which the determination is to be made, and state and local income taxes at the highest marginal rates of individual taxation in each applicable state and locality, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes.