Kraft Current Federal Income Tax Provision definition

Kraft Current Federal Income Tax Provision means, with respect to any financial statement year (or portion thereof) in the Pre-Distribution Period, the sum of the Kraft Group’s current federal income tax provision determined in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) recorded on the Kraft Group’s books and records and reported in the Kraft Group’s published financial statements.
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Examples of Kraft Current Federal Income Tax Provision in a sentence

  • Not later than thirty days after the Distribution Date, Kraft shall identify on its books the Kraft Current Federal Income Tax Provision for that portion of the current quarter that ends on the Distribution Date, determined in accordance with United States GAAP, and shall transfer such amount to Altria within thirty days after the Distribution Date.

  • Not later than fifteen days after the end of ------------------ each quarter, or in the case of the last quarter of Kraft's financial statement year, immediately prior to the closing of the books for such financial statement, Kraft shall identify the Kraft Current Federal Income Tax Provision for such quarter, determined in accordance with United States GAAP, on its books and immediately thereafter transfer such amount, by way of an intercompany transfer, to the books of Companies.