Federal taxable income definition

Federal taxable income means taxable income as defined in section 63 of the internal revenue code, except that federal taxable income shall be calculated as if section 168(k) and section 199 of the internal revenue code were not in effect.

Federal taxable income means taxable income as defined

Federal taxable income means taxable income as defined in section 63 of the internal revenue code.

Examples of Federal taxable income in a sentence

• If a Unitholder is a corporation subject to the New Jersey Corporation Business Tax or New Jersey Corporation Income Tax, interest from the Bonds in the New Jersey Trust which is allocable to such corporation will be includable in its entire net income for purposes of the New Jersey Corporation Business Tax or New Jersey Corporation Income Tax, less any interest expense incurred to carry such investment to the extent such interest expense has not been deducted in computing Federal taxable income.

• Gain or loss on property sold or exchanged is the amount properly to be recognized in the determination of Federal taxable income.

• Add any 30% or 50% bonus depreciation amounts and federal depreciation calculations which were deducted in arriving at Federal taxable income on recovery property placed in service during accounting periods beginning on and after January 1, 2002, for which federal 30% or 50% bonus depreciation was taken.

• Add any depreciation or cost recovery (ACRS and MACRS) which was deducted in arriving at Federal taxable income on recovery property placed in service on or after January 1, 1981 and prior to taxpayers’ accounting periods beginning on and after July 7, 1993.

• Add any interest, amortization or transactional costs, rent, or any other deduction which was claimed in arriving at Federal taxable income as a result of a “safe harbor leasing” election made under Section 168(f)(8) of the Federal Internal Revenue Code; provided, however, any such amount with respect to a qualified mass commuting vehicle pursuant to the Federal Internal Revenue Code Section 168(f)(8)(D)(v) need not be added back to net income.

More Definitions of Federal taxable income

Federal taxable income means the taxable income of Holdings for any taxable year computed pursuant to Section 1363(b) (or any successor provision) of the Code but calculated as if the taxable year of Holdings ended on the date with respect to which such taxable income calculation is made, reduced, but not below zero, by the amount of any Suspended Losses treated as incurred by Holdings in, and allowed as deductions on the tax returns of Holdings’ stockholders for, such taxable year.

Federal taxable income means taxable income as defined in Section

Federal taxable income means taxable income, before operating loss deduction and special deductions, as required to be reported for the taxpayer's taxable year under the Internal Revenue Code.

Federal taxable income means, when referring to an individual, "taxable income", as that term is defined and described in section 63 of the Internal Revenue Code (26 U.S.C. 63), and means, when referring to a trust or estate, "taxable income", as that term is defined and described in subtitle A, chapter 1, subchapter J, of the Internal Revenue Code (26 U.S.C., subchapter J).

Federal taxable income means taxable income as defined in section 63 of the internal revenue code without the deductions described under section 703(a)(2) of the internal revenue code. For the purposes of this part in computing federal taxable income, an S corporation shall be treated as a corporation under section 1361(a)(2) of the internal revenue code and a partnership shall be treated as an association taxable as a corporation pursuant to an election under 26 CFR 301.7701-3(a).

Federal taxable income means the taxable income of Parent for any taxable year computed pursuant to Section 1363(b) (or any successor provision) of the Code but calculated as if the taxable year of Parent ended on the date with respect to which such taxable income calculation is made, reduced, but not below zero, by the amount of any Suspended Losses which are treated as incurred by Parent in, and allowed as deductions on the tax returns of Parent's stockholders for, such taxable year.

Federal taxable income means taxable income, before operating loss deduction and special deductions, as required to be reported for the