Income Tax Payable definition

Income Tax Payable means any income tax payable by Seller, TMI and/or USORTHO.
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Income Tax Payable means an amount equal to the Group’s corporate income Tax liabilities, excluding deferred Tax liabilities (if any) (which was RMB13,407,000 as at 31 July 2016), calculated based on the taxable profits and the applicable corporate income tax rate;
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Income Tax Payable means an amount equal to the income or franchise tax payable of Industries as of the Closing Date calculated in accordance with GAAP consistently applied, plus any interest, penalties or additions to tax or additional amounts in respect of the foregoing.
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Examples of Income Tax Payable in a sentence

  • Meanwhile, Income Tax Payable increased by 45% at P58.06 million from P40.17 million as at the start of the period.

  • Part B : Statutory Income, Total Income, Tax Payable and Status of TaxThis part has to be completed.In the case of joint assessment, the individual who elects to be assessed in the name of the spouse is required to fill in until item B16 only.

  • Provision for income tax is made on the basis of estimated taxable income for the year at current rates.Current Tax represents the amount of Income Tax Payable in respect of the taxable income for the reporting period as determined in accordance with the provisions of the Income Tax Act, 1961.Deferred tax is measured based on the tax rates and the tax laws enacted or substantively enacted at the Balance Sheet date.

  • Debit: Income Tax Provision 9,393 Debit: Net Deferred Tax Asset 8,2931.1. Credit: Income Tax Payable 17,686 2.

  • The work sheet of PSI Company shows Income Tax Expense of $9,000 and Income Tax Payable of $9,000 in the Adjustments columns.

  • Includes Income Tax Payable Roll forward documentation, cost information, deferred revenue schedules, tax memos, etc.Includes the Harmonized sales tax (HST), fuel and gasoline tax rebates for non-licensed equipment such as backhoes, lawnmowers, and power take-off units.Documents include monthly tax returns and supporting documents, tax rebate claims, tax refund claims, annual income tax returns, T4ANR slips and summaries, reports, and correspondence.

  • Public Ruling No. 2/2005 [Computation of Income Tax Payable by a Resident Individual] further clarified that medical expenses include: (i) medical care and treatment provided by a nursing home; and (ii) dental treatment limited to tooth extraction, filling, scaling and cleaning but not including cosmetic dental treatment expenses such as teeth restoration and replacement involving crowning, root canal and dentures.

  • Income Tax Expense will appear as a debit of $9,000 and Income Tax Payable as credit in the Income Statement columns.

  • The increase in the provision and corresponding increase in the Income Tax Payable is due to the Company updating the tax liability based on 2018 tax returns filed during 2019.

  • Income Tax Expense will appear as a debit of $9,000 and Income Tax Payable as credit in the Balance Sheet columns.


More Definitions of Income Tax Payable

Income Tax Payable means the amount of income tax calculated on the taxable income of the company for the financial period.
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Related to Income Tax Payable

  • Income Tax Expense means for Borrower and its Subsidiaries, on a consolidated basis for any period, all state and federal income taxes (including without limitation Texas franchise taxes) paid or due to be paid during such period.

  • 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.

  • Income Taxes means any Tax which is based upon, measured by, or calculated with respect to (i) net income or profits (including, but not limited to, any capital gains, gross receipts, value added or minimum Tax) or (ii) multiple bases (including, but not limited to, corporate franchise, doing business or occupation Taxes) if one or more of the bases upon which such Tax may be based, by which it may be measured, or with respect to which it may be calculated is described in clause (i) of this sentence.

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

  • Income Tax Act means the Income Tax Act, 1962 (Act No. 58 of 1962);

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

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

  • 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.

  • Tax Payments has the meaning set forth in the definition of Permitted Payments to Parent.

  • Tax Payment means either the increase in a payment made by an Obligor to a Finance Party under Clause 12.2 (Tax gross-up) or a payment under Clause 12.3 (Tax indemnity).

  • Consolidated Income Tax Expense means, with respect to any Person for any period, the provision for federal, state, local and foreign income taxes of such Person and its Restricted Subsidiaries for such period as determined on a consolidated basis in accordance with GAAP.

  • Actual Tax Liability means, with respect to any Taxable Year, the liability for Covered Taxes of the Corporation (a) appearing on Tax Returns of the Corporation for such Taxable Year and (b) if applicable, determined in accordance with a Determination (including interest imposed in respect thereof under applicable law).

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

  • Tax means any tax, levy, impost, duty or other charge or withholding of a similar nature (including any penalty or interest payable in connection with any failure to pay or any delay in paying any of the same).

  • Total After-Tax Payments means the total of all “parachute payments” (as that term is defined in Section 280G(b)(2) of the Code) made to or for the benefit of the Executive (whether made hereunder or otherwise), after reduction for all applicable federal taxes (including, without limitation, the tax described in Section 4999 of the Code).

  • Non-Income Tax means any Tax other than an Income Tax.

  • Non-Income Taxes means any Taxes other than 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.

  • Consolidated federal income tax return means a consolidated return filed for federal income tax purposes pursuant to section 1501 of the Internal Revenue Code.

  • Hypothetical Tax Liability means, with respect to any Taxable Year, the Hypothetical Federal Tax Liability for such Taxable Year, plus the Hypothetical Other Tax Liability for such Taxable Year.

  • Connection Income Taxes means Other Connection Taxes that are imposed on or measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes.

  • Rollback tax rate means the rate that will produce last year’s maintenance and operation tax levy (adjusted) from this year’s values (adjusted) multiplied by 1.08 plus a rate that will produce this year’s debt service from this year’s values (unadjusted) divided by the anticipated tax collection rate.

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

  • Straddle Tax Period means a Tax period that begins on or before the Closing Date and ends after the Closing Date.

  • Pre-Tax Earnings means the Corporation's earnings before income taxes as reported in the Company's Consolidated Income Statement for each fiscal year of the Performance Period, excluding any non-cash charge incurred in accordance with accounting principles generally accepted in the United States of America (GAAP) for any restricted stock or restricted stock unit awards granted during the Performance Period and all options, restricted stock and other equity compensation granted to Directors during the Performance Period.

  • Unpaid estimated income tax means estimated income tax due but not paid by the date the tax is required to be paid under applicable law.