Conversion Tax definition

Conversion Tax means any tax which is attributable to income which must be recognized by QCC by reason of it being required to change from the cash method to the accrual method of accounting for Federal income tax purposes.
View Source
Conversion Tax means the additional land revenue leviable under Section 47-A of the Code”
View Source

Examples of Conversion Tax in a sentence

  • The proceeds of the other Loans will be used only (i) to finance the working capital needs and general corporate purposes of the Borrower and its Subsidiaries in the ordinary course of business, (ii) to finance Permitted Acquisitions and (ii) pay the Conversion Tax Payment.

  • In the event Seller pays an estimated excess amount as contemplated in Section 9.12(tt)(iii)(C) and the actual excess amount above the Estimated Conversion Tax Amount is less than the estimated amount so designated by Seller, then A.S.V., LLC shall reimburse Seller for such excess payment.

  • Such participation and control shall include the right to attend conferences with Taxing Authorities, being provided with a reasonable opportunity to comment before submitting any written materials to Taxing Authorities and making joint decisions with respect to significant actions, including with respect to settlement, compromise or other disposition of a Conversion Tax Matter.

  • Excess Conversion Tax Liability (and the components thereof) shall be computed assuming the correctness of the representations and warranties in Section 4.14(g).

  • Purchaser shall indemnify, defend and hold harmless the Seller Indemnified Parties from and against any and all (i) Excess Conversion Tax Liability and (ii) Losses that are not attributable to Taxes asserted against or suffered by them relating to, resulting from, or arising out of any Conversion Transaction.

  • Any Conversion Tax liability has been disclosed to WHI and shall be the liability of QCC following Closing.

Related to Conversion Tax

  • Transaction Taxes has the meaning set forth in Section 2.6.

  • Transaction Tax Deductions means any items of loss or deduction for Tax purposes arising from or attributable to any Actual Company Expenses or Actual Indebtedness.

  • Distribution Taxes means any Taxes incurred solely as a result of the failure of any of the Transactions to qualify for the Intended Tax Treatment of such Transaction.

  • non-taxable supply means a supply of goods or services or both which is not leviable to tax under this Act or under the Integrated Goods and Services Tax Act;

  • Central Bank Rate Adjustment has the meaning given to that term in the Reference Rate Terms.