Current Tax Assets definition

Current Tax Assets the meaning given in Schedule 4;
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Current Tax Assets means the Tax assets of the Company (other than income Tax assets) incurred in the ordinary course of the Company’s operations, with respect to current Tax periods, determined (including a determination as to type and amount) in a manner consistent with the Company’s past practice.
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Examples of Current Tax Assets in a sentence

  • For the avoidance of doubt, in all circumstances receivables, payables, Current Tax Assets and Current Tax Liabilities falling due in more than one year shall also be included in the calculation of Spirits and Wine Working Capital.

  • For the avoidance of doubt, in all circumstances receivables, payables, Current Tax Assets and Current Tax Liabilities falling due in more than one year shall also be included in the calculation of Spirits and Wines Working Capital.

Related to Current Tax Assets

  • Income Tax Return means any Tax Return relating to Income Taxes.

  • 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.

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

  • Tax Asset means any 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 back to reduce Taxes (including without limitation deductions and credits related to alternative minimum Taxes).

  • Income Tax Expense means, for any period, the aggregate of all Taxes (including deferred Taxes) based on the income of a Person for such period, determined in accordance with GAAP.