Corporate Income Tax Liability definition

Corporate Income Tax Liability means any amount in respect of corporation Tax due and payable to a Taxation Authority, as determined under the Tax laws of the relevant local jurisdiction, and not yet paid by a Group company as at the Completion Date, including, for the avoidance of doubt, any amounts in respect of Tax arising in connection with or as a result of the Reorganisation but excluding any deferred Tax liabilities;
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Corporate Income Tax Liability means the aggregate liability of: (i) the companies of the Nubiola Group incorporated in the United States, for United States federal income Taxes; (ii) the companies of the Nubiola Group incorporated in Spain for the "Impuesto de Sociedades"; and (iii) analagous Taxes in the other applicable jurisdictions;
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Examples of Corporate Income Tax Liability in a sentence

  • A legal government body formed by governing constitutions or statutes.Note – Corporate Income Tax Liability: Sub-chapter C-corporations and limited liability companies electing treatment by the IRS as C-corporations for federal income tax purposes will be subject to and obligated for Florida corporate income tax.

  • Then, the taxpayer will calculate the CIT comparison on Schedule of Corporate Income Tax Liability for a Financial Filer (Form 4975).

  • See the instructions for Form 500 for information on completing the return.Part I – Adjusted Corporate Income Tax Liability Line 1: Enter the corporate income tax liability computed on the home service contract provider’s Form 500, Line 9.Line 2: Report refundable and nonrefundable corporate income tax credit amounts on Lines (A) through (FF).

  • The OCP provides Council and the public with direction for development and the basis to evaluate proposals to ensure these proposals are consistent with the vision.

  • Of lines 38 and 39, if one is tax due and one is an overpayment Example E: Line 38 = ($500); line 35 = $200; enter 700 on line 39 Example F: Line 38 = $200; line 35 = ($500); enter 0 on line 39 0000 2012 56 02 27 6Instructions for Form 4946Schedule of Corporate Income Tax Liability for a Michigan Business Tax Filer IMPORTANT NOTE: In April 2013, the Michigan Department of Treasury introduced instruction revisions affecting taxpayers filing a 2012 Michigan Business Tax Return.

  • See the instructions for Form 500 for information on completing the return .Part I – Adjusted Corporate Income Tax Liability Line 1: Enter the corporate income tax liability computed on the home service contract provider’s Form 500, Line 9 .Line 2: Report refundable and nonrefundable corporate income tax credit amounts on Lines (A) through (FF) .

  • Corporate Income Tax Liability To derive an estimate of the corporate tax benefit attributable to spread income deductions, we apply a marginal tax rate of 35 percent to spread income estimates.

  • The DUO must assist the Design-Build Firm in understanding the time frames and the Design-Build Firm’s responsibility to get relocation agreements.

  • The P90 million regular income tax liability of the Sta.Cruz Nickel Project and the Minimum Corporate Income Tax Liability of the Parent Company accounted for the increase.

  • Corporate Income Tax Liability In general, a corporation determines state cor- porate income /franchise tax liability by computing gross or total income, subtracting deductions, ap- portioning the net income to the state (if neces- sary), adjusting for nonapportionable income and net operating losses (if applicable), applying the 7.9% state tax rate, and subtracting tax credits.

Related to Corporate Income Tax Liability

  • Income Tax Return means any return, declaration, report, claim for refund, or information return or statement relating to Income Taxes, including any schedule or attachment thereto, and including any amendment thereof.

  • Non-Income Tax Return means any Tax Return relating to any Tax other than an Income Tax.

  • 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.

  • Hypothetical Tax Liability means, with respect to any Taxable Year, the Hypothetical Federal Tax Liability for such Taxable Year, plus the Hypothetical Other Tax Liability for such Taxable Year.

  • 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.

  • 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).

  • Income Tax Returns means all Tax Returns relating to Income Taxes.

  • Tax Liabilities means all liabilities for Taxes.

  • Consolidated federal income tax return means a consolidated return filed for federal income tax purposes pursuant to section 1501 of the Internal Revenue Code.

  • Income Taxes means any Tax which is based upon, measured by, or calculated with respect to (i) net income or profits (including, but not limited to, any capital gains, gross receipts, value added or minimum Tax) or (ii) multiple bases (including, but not limited to, corporate franchise, doing business or occupation Taxes) if one or more of the bases upon which such Tax may be based, by which it may be measured, or with respect to which it may be calculated is described in clause (i) of this sentence.

  • 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.

  • Taxable income means, in the case of an individual, federal adjusted gross income determined without regard to 26 U.S.C. § 168(k) and:

  • 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.

  • council tax benefit means council tax benefit under Part 7 of the SSCBA; “couple” has the meaning given by paragraph 4;

  • State Income Tax means any Tax imposed by any State of the United States or by any political subdivision of any such State which is imposed on or measured by net income, including state and local franchise or similar Taxes measured by net income.

  • 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.

  • Transaction Tax Deductions means any Tax deductions relating to (i) the Company Transaction Expenses, and (ii) repayment of the Indebtedness, including any unamortized deferred financing fees in connection with the Indebtedness.

  • Non-Income Taxes means any Taxes other than Income Taxes.

  • Non-Income Tax means any Tax other than an Income Tax.

  • MUNICIPAL TAXABLE INCOME means the following:

  • Income Tax Expense means for Borrower and its Subsidiaries, on a consolidated basis for any period, all state and federal income taxes (including without limitation Texas franchise taxes) paid or due to be paid during such period.

  • Consolidated Return means a Tax Return filed with respect to Federal Income Taxes for the Consolidated Group.

  • State premium tax liability means any liability

  • Income Tax means any federal, state, local, or foreign income tax, including any interest, penalty, or addition thereto, whether disputed or not.

  • Unpaid estimated income tax means estimated income tax due but not paid by the date the tax is required to be paid under applicable law.

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