Income Tax Distribution definition

Income Tax Distribution means a distribution of cash in the Ordinary Course of Business (a) from GNLV in an amount that does not exceed an amount equal to the difference of (i) the product of (A) the taxable income of the Acquired Entities determined for federal income tax purposes for the periods or portions thereof commencing on January 1, 2005 and ending on the Closing Date, times (B) the highest applicable marginal individual federal income tax rate and (ii) any amounts previously distributed by the Acquired Entities to Seller or Seller's stockholders for Taxes in respect of such income and (b) from GNL in an amount that does not exceed an amount equal to the difference of (i) the product of (A) the taxable income of GNL determined for federal income tax purposes for the periods or portions thereof commencing on January 1, 2005 and ending on the Closing Date, times (B) the highest applicable marginal individual federal income tax rate and (ii) any amounts previously distributed by PFG to Seller or Seller's stockholders for Taxes in respect of such income.
Sample 1
Income Tax Distribution means a distribution to the Members in an amount equal to the estimated amount of income taxes due as a result of profits.
Sample 1
Income Tax Distribution means a distribution of cash in an amount which does not exceed an amount equal to the sum of (A) the product of (1) DWWC's taxable income for federal income tax purposes for the period commencing on January 1, 1999 and ending on the Effective Date, minus the amount determined pursuant to clause (B), below, for such period, times (2) the highest applicable marginal individual federal income tax rate, plus (B) if the Shareholders are obligated to pay any state or local income taxes on account of DWWC's income, the product of (x) DWWC's taxable income for federal income tax purposes for the period commencing on January 1, 1999 and ending on the Effective Date, times (y) the highest applicable marginal individual state or local income tax rate, minus (C) any amounts distributed by DWWC to the Shareholders prior to November 1, 1999 in respect of income Taxes.
Sample 1

Examples of Income Tax Distribution in a sentence

  • Lower Income Tax Distribution Projections (versus IML Projections) in forecasting and budgeting.

  • Mr. Muck replied that the Highway 156 project remains one of the Agency’s high priority projects and staff has budgeted more funding for consultant and staff work.

  • Table 2: Wisconsin Income Tax Distribution, 2019 Average: totalBottom 20percent The table shows that the average income of filers was $61,105 and the average (net) tax paid was$2,639, for an average effective income tax rate of 4.32%.

  • Sarah Gizzi, Assistant Business ManagerIt is recommended that the Board authorizes the deposit of the 2023 Supplemental Local Income Tax Distribution in the amount of $68,341.00 into the Rainy Day Fund.

  • TAX - 25 Income Tax Distribution to CountiesSection: 503.70 Section: 503.70 Section: 503.70Appropriates GRF funds to make any payment required by the Ohio Constitution's provision that not less than 50% of income, estate, and inheritance taxes collected by the state in a county, school district, city, village, or township be returned to that jurisdiction.Fiscal effect: May require appropriation and expenditure of funds in the GRF.Same as the Executive.

  • Table 4: Federal Income Tax Distribution in Wisconsin, 2018 Source: IRS Statistics of Income.

  • TAX - 25 Income Tax Distribution to CountiesAs Passed by the Senate As EnactedSection: 503.70Section:503.70Section:503.70Section:503.70Appropriates GRF funds to make any payment required by the Ohio Constitution's provision that not less than 50% of income, estate, and inheritance taxes collected by the state in a county, school district, city, village, or township be returned to that jurisdiction.Fiscal effect: May require appropriation and expenditure of funds in the GRF.Same as the Executive.

  • Page 2: Schedule B, Income Tax Distribution For greater clarity, in addition to the line items necessary to compute the income distribution deduction, notations on Schedule B will alert the tax return preparer of significant issues related to distributions.

  • Income Tax Distribution of Income Earners 2009 • The above table is derived from the latest data from the Revenue Commissioners, which takes account of the most up to date macroeconomic factors.


More Definitions of Income Tax Distribution

Income Tax Distribution means the distribution from the Reorganized Debtor to a holder of an equity interest to meet annual income tax obligations, which shall be made annually in an amount equal to the lesser of the income tax liability due on account of
Sample 1

Related to Income Tax Distribution

  • Tax Distribution has the meaning set forth in Section 4.4.

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

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

  • Tax Distribution Amount means, with respect to a Member’s Units, whichever of the following applies with respect to the applicable Tax Distribution, in each case in amount not less than zero:

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

  • 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.

  • Pre-Distribution Tax Period means any taxable period (or portion thereof) that ends on or before the Distribution Date.

  • Permitted Tax Distribution means distributions to the Parent (from the Accounts or otherwise) to the extent required to allow the Parent to make sufficient distributions to qualify as a regulated investment company, and to otherwise eliminate federal or state income or excise taxes payable by the Parent in or with respect to any taxable year of the Parent (or any calendar year, as relevant); provided that (A) the amount of any such payments made in or with respect to any such taxable year (or calendar year, as relevant) of the Parent shall not exceed 115% of the amounts that the Company would have been required to distribute to the Parent to: (i) allow the Company to satisfy the minimum distribution requirements that would be imposed by Section 852(a) of the Code (or any successor thereto) to maintain its eligibility to be taxed as a regulated investment company for any such taxable year, (ii) reduce to zero for any such taxable year the Company's liability for federal income taxes imposed on (x) its investment company taxable income pursuant to Section 852(b)(1) of the Code (or any successor thereto), or (y) its net capital gain pursuant to Section 852(b)(3) of the Code (or any successor thereto), and (iii) reduce to zero the Company's liability for federal excise taxes for any such calendar year imposed pursuant to Section 4982 of the Code (or any successor thereto), in the case of each of (i), (ii) or (iii), calculated assuming that the Company had qualified to be taxed as a regulated investment company under the Code and (B) if such Permitted Tax Distributions are made after the occurrence and during the continuance of an Event of Default, the amount of Permitted Tax Distributions made in any 90 calendar day period shall not exceed U.S.$1,500,000.

  • Permitted Tax Distributions means, with respect to a Credit Party so long as it is taxable as a partnership or disregarded entity for United States federal income tax purposes, tax distributions to the owners of Equity Interests in such Credit Party (its “shareholders”) in an aggregate amount that does not exceed, with respect to any period, an amount equal to (a) the product of (i) the Applicable Tax Percentage, multiplied by (ii) such Credit Party’s federal taxable income, minus (b) to the extent not previously taken into account, any income tax benefit attributable to such Credit Party which could be utilized by its shareholders, in the current or any prior year, or portion thereof, from and after the Closing Date (including any tax losses or tax credits), computed at the Applicable Tax Percentage of the year that such benefit is taken into account for purposes of this computation; provided, however, that the computation of distributions under this definition shall also take into account (x) the deductibility of state and local taxes for federal income tax purposes and (y) any difference in the Applicable Tax Percentage resulting from the nature of the taxable income (such as capital gain as opposed to ordinary income, if applicable; provided, further, that, in the event (x) the actual distribution to a shareholder made pursuant to this definition exceeds the actual income tax liability of any such shareholder due to such Credit Party’s status as a partnership or “disregarded entity” for U.S. federal or other applicable income tax purposes, or (y) if such Credit Party is a subchapter C corporation, such Credit Party would be entitled to a refund of income taxes previously paid as a result of a tax loss during a year in which such Credit Party is a partnership or “disregarded entity” for U.S. federal or other applicable income tax purposes, then, such shareholder shall repay such Credit Party the amount of such excess or refund, as the case may be, no later than the date the annual tax return must be filed by such Credit Party (without giving effect to any filing extensions) and, in the event such amounts are not repaid in a timely manner by any, then such Credit Party shall not pay or make any distribution with respect to, or purchase, redeem or retire, any Equity Interest of such Credit Party held or Controlled by, directly or indirectly, such shareholder until such payment has been made.

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

  • Income Taxes means any taxes measured, in whole or in part, by net or gross income or profits together with any interest, penalties or additions to tax.

  • Pre-Tax Contributions means, for any Participant, the aggregate of the Participant's Basic Pre-Tax Contributions and Supplemental Pre-Tax Contributions contributed to the applicable Pre-Tax Contribution Account.

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

  • Distribution Taxes means any Taxes incurred solely as a result of the failure of the Intended Tax Treatment of the Restructuring, the Contribution or the Distribution.

  • Income Tax Expense means for Borrower and its Subsidiaries, on a consolidated basis for any period, all state and federal franchise or income taxes paid or due to be paid during such period.

  • 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.

  • Income Tax Returns mean all Tax Returns that relate to Income Taxes.

  • Income Distribution shall be calculated as set forth in subparagraph (A), below, unless the Prospectus provides for the averaging of income distributions, in which case, "Income Distribution" shall be shall be calculated as set forth in subparagraph (B), below. Accordingly, the Unitholder's "Income Distribution" shall be equal to:

  • Net Tax Benefit has the meaning set forth in Section 3.1(b) of this Agreement.

  • After Tax Amount means the amount of the Aggregate Payments less all federal, state, and local income, excise and employment taxes imposed on the Executive as a result of the Executive’s receipt of the Aggregate Payments. For purposes of determining the After Tax Amount, the Executive shall be deemed to pay federal income taxes at the highest marginal rate of federal income taxation applicable to individuals for the calendar year in which the determination is to be made, and state and local income taxes at the highest marginal rates of individual taxation in each applicable state and locality, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes.

  • After-Tax Contributions means amounts withheld from an Employee’s Compensation pursuant to a Salary Reduction Agreement after all applicable state and federal taxes have been deducted. Such amounts are withheld for purposes of purchasing one or more of the Benefit Package Options available under the Plan.

  • Book-Tax Disparity means with respect to any item of Contributed Property or Adjusted Property, as of the date of any determination, the difference between the Carrying Value of such Contributed Property or Adjusted Property and the adjusted basis thereof for federal income tax purposes as of such date. A Partner’s share of the Partnership’s Book-Tax Disparities in all of its Contributed Property and Adjusted Property will be reflected by the difference between such Partner’s Capital Account balance as maintained pursuant to Section 5.5 and the hypothetical balance of such Partner’s Capital Account computed as if it had been maintained strictly in accordance with federal income tax accounting principles.

  • Straddle Tax Period means any taxable period beginning on or before and ending after the Closing Date.

  • 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.

  • Net After Tax Amount means the amount of any Parachute Payments or Capped Payments, as applicable, net of taxes imposed under Code Sections 1, 3101 (b) and 4999 and any State or local income taxes applicable to the Executive on the date of payment. The determination of the Net After Tax Amount shall be made using the highest combined effective rate imposed by the foregoing taxes on income of the same character as the Parachute Payments or Capped Payments, as applicable, in effect on the date of payment.

  • 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.