Income Tax definition

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

Income Tax means any federal, state, local or foreign Tax (a) based upon, measured by or calculated with respect to net income, profits or receipts (including, without limitation, capital gains Taxes and minimum Taxes) or (b) based upon, measured by or calculated with respect to multiple bases (including, without limitation, corporate franchise taxes) if one or more of the bases on which such Tax may be based, measured by or calculated with respect to, is described in clause (a), in each case together with any interest, penalties, or additions to such Tax.

Income Tax means any income, franchise or similar Taxes imposed on (or measured by) net income or net profits.

Examples of Income Tax in a sentence

• The Issuer makes this representation only in connection with the discussion in the Prospectus under the heading “Material United States Federal Income Tax Consequences”.

• The parties intend that the Company and its Subsidiaries will join Buyer’s consolidated group for U.S. federal Income Tax purposes upon the consummation of the transactions contemplated by this Agreement, and shall be included in such consolidated group’s consolidated U.S. federal Income Tax Return as of the beginning of the day immediately following the Closing Date.

• Keystone, as general partner on behalf of TransCanada Keystone Pipeline Limited Partnership (the “Limited Partnership”), represents and warrants that: (i) it owns the Tank Facilities, (ii) the performance by Keystone of its obligations hereunder has been duly authorized by all necessary corporate action, (iii) this Lease has been duly executed and delivered on its behalf and (iv) the Limited Partnership is a “Canadian partnership” as defined in the Income Tax Act (Canada).

• Seller shall prepare (or cause to be prepared) and file (at the expense of Seller) all Income Tax Returns for the Company and its Subsidiaries that are for a tax period ending on or prior to the Closing Date (each such Tax Return being a “Seller Return”).

• In the event that the Limited Partnership’s residency status under the Income Tax Act (Canada) changes such that it is no longer a “Canadian partnership” thereunder, Keystone shall provide Notice to Lessee within 30 days of such status change.

More Definitions of Income Tax

Income Tax means any federal, state, local or foreign Tax measured by or imposed on net income.

Income Tax means any federal, state, local, or non-U.S. income tax measured by or imposed on net income, gross income (other than severance taxes), adjusted gross income, or some derivative thereof, including any interest, penalty, or addition thereto, whether disputed or not.

Income Tax means any federal, state, local or foreign Tax determined (in whole or in part) by reference to net income, net worth, gross receipts or capital, or any such Taxes imposed in lieu of such a Tax. For the avoidance of doubt, the term “Income Tax” includes any franchise Tax, net worth, gross receipts, capital or any such Taxes imposed in lieu of such a Tax.

Income Tax means a tax imposed on or measured by net income including any tax imposed on or measured by an amount arrived at by deducting expenses from gross income, one or more forms of which expenses are not specifically and directly related to particular transactions.

Income Tax or “Income Taxes” means any Tax or Taxes imposed on or measured in whole or in part by income.

Income Tax means a tax on or measured by the net income of a corporation, partnership, joint venture, trust, limited liability company, limited liability partnership, association or other organization or entity (including taxes on capital or net worth that are imposed as an alternative to a tax based on net or gross income), or taxes which are of the nature of excess profits tax, gross receipts tax, minimum tax on tax preferences, alternative minimum tax, accumulated earnings tax, personal holding company tax, capital gains tax or franchise tax for the privilege of doing business.

Income Tax means all Taxes based on or measured by net income.