Local Income Tax definition

Local Income Tax has the meaning set forth in Section 3.07.
Sample 1Sample 2Sample 3
Local Income Tax means a tax on the income of specified taxpayers that counties are able to impose and distribute to the county unit and other local governmental units in the county.
Sample 1Sample 2Sample 3

Examples of Local Income Tax in a sentence

  • Once determined, enter the taxable amount of the refund in column (d) of line 37 of the State and Local Income Tax Refunds Worksheet.

  • Investors in other real estate platforms, such as partnerships or limited liability companies (“LLCs”), may not be eligible to receive any or all of the 20% deduction due to multiple regulatory limitations that restrict investors’ ability to receive the deduction benefit.·No Dual State and Local Income Tax Exposure: Our Company is a C corporation that will elect to be taxed as a REIT.

  • Local Income Tax Agencies make deductions based on a specified rate (when applicable) for supplemental payments or the applicable standard rate.

  • For payroll purposes, local tax withholding while teleworking will be done in accordance with applicable state and local tax laws and the State of Ohio Policy Regarding Local Income Tax Withholding.

  • Investors in other real estate platforms, such as partnerships or limited liability companies (“LLCs”), may not be eligible to receive any or all of the 20% deduction due to multiple regulatory limitations that restrict investors’ ability to receive the deduction benefit.· No Dual State and Local Income Tax Exposure: Our Company is a C corporation that will elect to be taxed as a REIT.

  • We intend to pay out at least 90% of our taxable earnings in dividends to investors quarterly.QBI 20% Income Tax Deduction: Qualified Business Income (QBI) allows REIT investors to deduct 20% of their taxable REIT income.Eliminates Dual State and Local Income Tax Exposure: Partnerships expose investors to state and local tax both at the project location and where the investor is domiciled.

  • Of the Earmarked Reserves to be used, £15.703m were to be met from the specific balancing budget reserve, £0.127m related to a budget reduction which was agreed to be funded from the District Partnership Reserve and £1.000m from a reserve created from anticipated Local Income Tax Guarantee grant.

  • This additional compensation is subject to Federal, State, and Local Income Tax.

  • An Ordinance of the Common Council of the City of Carmel, Indiana, Authorizing the Issuance of the Local Income Tax (LIT) General Obligation Bonds for the Purpose of Providing Funds to Pay for Certain Property Acquisition and Capital Improvement Projects in the City; Sponsor(s): Councilor(s) Kimball, Rider and Worrell.

  • Line No. 1 Account 282 2 Electric 3 Gas 4 5 Total (Enter Total of lines 2 thru 4) 6 7 TOTAL Account 282 (Enter Total of lines 5 thr 8 Classification of TOTAL 9 Federal Income Tax 10 State Income Tax 11 Local Income Tax Name of Respondent This Report Is: An Original A Resubmission Date of Report (Mo, Da, Yr) Year/Period of Report End of Accumulated Deferred Income Taxes-Other Property (Account 282) (continued) 3.

Related to Local Income Tax

  • Federal Income Tax means any Tax imposed by Subtitle A of the Code, and any interest, penalties, additions to tax, or additional amounts in respect of the foregoing.

  • Foreign Income Tax means any Tax imposed by any foreign country or any possession of the United States, or by any political subdivision of any foreign country or United States possession, which is an income tax as defined in Treasury Regulation Section 1.901-2, and any interest, penalties, additions to tax, or additional amounts in respect of the foregoing.

  • State Income Tax means any Tax imposed by any State of the United States or by any political subdivision of any such State which is imposed on or measured by net income, including state and local franchise or similar Taxes measured by net income.

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

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

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

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

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

  • foreign tax means any Foreign Income Taxes or Foreign Other Taxes.

  • 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.

  • 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.

  • 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.

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

  • Australian Tax Act means the Income Tax Assessment Act 1936 (Cth) (Australia) or the Income Tax Assessment Act 1997 (Cth) (Australia), as applicable.

  • Applicable Tax Rate means the estimated highest aggregate marginal statutory U.S. federal, state and local income, franchise and branch profits tax rates (determined taking into account the deductibility of state and local income taxes for federal income tax purposes and the creditability or deductibility of foreign income taxes for federal income tax purposes) (“Tax Rate”) applicable to any Partner on income of the same character and source as the income allocated to such Partner pursuant to Sections 5.04(a) and (b) for such fiscal year, fiscal quarter or other period, as determined by the Tax Matters Partner in its discretion; provided that, in the case of a Partner that is a partnership, grantor trust or other pass-through entity under U.S. federal income tax law, the Tax Rate applicable to such Partner for purposes of determining the Applicable Tax Rate shall be the weighted average of the Tax Rates of such Partner’s members, grantor-owners or other beneficial owners (weighted in proportion to their relative economic interests in such Partner), as determined by the Tax Matters Partner in its discretion; provided, further, that if any such member, grantor-owner or other beneficial owner of such Partner is itself a partnership, grantor trust or other pass-through entity similar principles shall be applied by the Tax Matters Partner in its discretion to determine the Tax Rate of such member, grantor-owner or other beneficial owner.

  • Applicable Tax Law means any foreign, federal, state or local tax law, statute, regulation, rule, code or ordinance enacted, adopted, issued or promulgated by any Governmental Body or common law that apply to any party hereto, this Agreement or the activities contemplated hereby, as applicable.

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

  • Incremental income tax means the total amount withheld

  • Goods and Services Tax (Compensation to States) Act means the Goods and Services Tax (Compensation to States) Act, 2017;

  • Canadian Tax Act means the Income Tax Act (Canada), as amended.

  • U.S. Tax Code means the United States Internal Revenue Code of 1986, as amended.

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

  • MUNICIPAL TAXABLE INCOME means the following:

  • Taxable income means, in the case of an individual, federal adjusted gross income determined without regard to 26 U.S.C. § 168(k) and:

  • Non-Income Taxes means any Taxes other than Income Taxes.

  • 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).