First Taxable Year definition

First Taxable Year has the meaning assigned to such term in Section 3.20.
Sample 1

Examples of First Taxable Year in a sentence

  • Rules Addressing the First Taxable Year an Organization Becomes an ATEO For the taxable year in which an organization becomes an ATEO, the applicable year begins on the date the organization becomes an ATEO and ends on December 31 of that calendar year (“short applicable year”).

  • The increase in Charterhire expenses was a result of increased physical trading activity during the fourth quarter in combination with higher rates.

  • Failure to comply with any of thereporting or notification requirements pro- vided by this section 3 will nullify a tax- payer’s attempted § 168(k)(4) election..02 Taxpayer’s First Taxable Year End- ing After March 31, 2008, Ends Before De- cember 31, 2008.

  • WRRC also has a “silence sensor” that turns off the transmitter after a certain amount of dead air.

  • To comply with this requirement, GECC will be required to distribute all of its earnings and profits from its First Taxable Year to its stockholders, before the end of its Second Taxable Year.

  • On the Initial Funding Date and at all times thereafter, the Borrower is an "investment company" that has elected to be regulated as a "business development company" within the meaning of the Investment Company Act and will qualify as a RIC for its first taxable year that includes the Initial Funding Date (the "First Taxable Year") and for all taxable years thereafter.

  • Third, GECC may be required to pay U.S. corporate income tax on any appreciation in the Initial GECC Portfolio that occurred in GECC's First Taxable Year, if GECC later sells or otherwise recognizes gain on the disposition of any of Initial GECC Portfolio.

  • The BDC Borrower shall timely file the RIC Election and shall maintain its status as a RIC under the Code with respect to the First Taxable Year and each of its taxable years ending thereafter.

  • GECC expects that its first taxable year will end prior to the Merger (GECC's First Taxable Year).

  • Failure to comply with any of the reporting or notification requirements provided by this section 3 will nullify a taxpayer’s attempted § 168(k)(4) election..02 Taxpayer’s First Taxable Year Ending After March 31, 2008, Ends Before December 31, 2008.

Related to First Taxable Year

  • Taxable Year means a taxable year of the Corporate Taxpayer as defined in Section 441(b) of the Code or comparable section of state or local tax law, as applicable (and, therefore, for the avoidance of doubt, may include a period of less than 12 months for which a Tax Return is made), ending on or after the IPO Date.

  • Taxable Period means any period prescribed by any governmental authority, including the United States or any state, local, or foreign government or subdivision or agency thereof for which a Tax Return is required to be filed or Tax is required to be paid.

  • Taxable means either:

  • Tax Year means a period beginning with 6th April in one year and ending with 5th April in the next;

  • Post-Distribution Period means any Tax Period beginning after the Distribution Date, and, in the case of any Straddle Period, the portion of such Straddle Period beginning the day after the Distribution Date.

  • Allocation Year Means (i) the period commencing on the Closing Date and ending on December 31, 2006, (ii) any subsequent period commencing on January 1 and ending on the following December 31, or (iii) any portion of the period described in clause (ii) for which the Company is required to allocate Profits, Losses and other items of Company income, gain, loss or deduction pursuant to Article V.

  • taxation year means the calendar year to which an assessment roll applies for the purposes of taxation;

  • Income year means any year or accounting period beginning 1 July of one calendar year and ending 30 June of the following calendar year or any other period that the Trustees by resolution adopt;

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

  • Base taxable value means the agreed value specified in a resolution or interlocal agreement under Subsection 17C-1-102(8) from which tax increment will be collected.

  • Post-Distribution Tax Period means a Tax year beginning and ending after the Distribution Date.

  • Current Distribution Date means a Distribution Date specified as a reference date for calculating the Expected Distributions with respect to the Certificates of any Trust as of such Distribution Date.

  • Post-Deconsolidation Period means any Tax Period beginning after the Deconsolidation Date, and, in the case of any Straddle Period, the portion of such Straddle Period beginning the day after the Deconsolidation Date.

  • Tax Benefit Schedule is defined in Section 2.02 of this Agreement.

  • Termination Year means the calendar year in which the Employment Period is terminated.

  • Net Tax Benefit means, for any Tax Year during the term of this Agreement, an amount equal to (but not less than zero): (i) the amount of maintenance and operations ad valorem taxes which the Applicant would have paid to the District for such Tax Year and all previous Tax Years during the term of this Agreement if this Agreement had not been entered into by the Parties; minus, (ii) an amount equal to the sum of (A) all maintenance and operations ad valorem school taxes actually due to the District or any other governmental entity, including the State of Texas, for such Tax Year and all previous Tax Years during the term of this Agreement, plus (B) any and all payments due to the District under Articles IV, V, and VI of this Agreement.

  • Tax Benefit Payment in respect of a TRA Party for a Taxable Year means an amount, not less than zero, equal to the Net Tax Benefit that is Attributable to such TRA Party and the Interest Amount with respect thereto. For the avoidance of doubt, for Tax purposes, the Interest Amount shall not be treated as interest, but instead, shall be treated as additional consideration in the applicable transaction, unless otherwise required by law. Subject to Section 3.3, the “Net Tax Benefit” for a Taxable Year shall be an amount equal to the excess, if any, of 85% of the Cumulative Net Realized Tax Benefit as of the end of such Taxable Year, over the total amount of payments previously made under the first sentence of Section 3.1(a) (excluding payments attributable to Interest Amounts); provided, for the avoidance of doubt, that no such recipient shall be required to return any portion of any previously made Tax Benefit Payment. The “Interest Amount” shall equal the interest on the Net Tax Benefit calculated at the Agreed Rate from the due date (without extensions) for filing IRS Form 1120 (or any successor form) of the Corporate Taxpayer with respect to Taxes for such Taxable Year until the payment date under Section 3.1(a).

  • Tax Limitation Period means the Tax Years for which the Applicant’s Qualified Property is subject to the Tax Limitation Amount and as further identified in Section 2.3.D of this Agreement.

  • casual taxable person means a person who occasionally undertakes transactions involving supply of goods or services or both in the course or furtherance of business, whether as principal, agent or in any other capacity, in the taxable territory where he has no fixed place of business;

  • transition year means the financial year of an issuer or business in which the issuer or business changes its financial year-end;

  • Benefit Distribution Date means the date that triggers distribution of a Participant’s vested Account Balance. A Participant’s Benefit Distribution Date shall be determined upon the occurrence of any one of the following:

  • Profit Distribution Date means the date on which the Management Company decides to distribute the profits (if any).

  • Taxable Date means the date on which interest on the Note is first includable in gross income of the Lender thereof as a result of an Event of Taxability as such date is established pursuant to a Determination of Taxability.

  • Taxable Allocation means, with respect to any Series, the allocation of any net capital gains or other income taxable for federal income tax purposes to a dividend paid in respect of such Series.

  • Tax Distribution Date has the meaning set forth in Section 4.01(b)(i).

  • First Year means the intake group of Students for the most junior class or year in a school.