Net Tax Amount definition

Net Tax Amount shall have the meaning assigned to such term in the definition of “Net Sale Proceeds”.

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Net Tax Amount means, with respect to a Person, the excess of the amount of such Person’s accrued Taxes which remain unpaid as of the Cutoff Date with respect to any Tax Return related to a Pre-Cutoff Tax Period (or a Pre-Cutoff Straddle Period) with an original due date (including applicable extensions) after the Cutoff Date, over any estimated Tax payments made by such Person with respect to such Taxes, provided that the Net Tax Amount shall take into account the amount of any Transaction Deductions even if accrued after the Cutoff Date (but shall never be less than zero). For the avoidance of doubt, payroll taxes of the Company for any Pre-Cutoff Tax Period or Pre-Cutoff Straddle Period the payment of which has been deferred pursuant to the CARES Act and which remain unpaid as of the Cutoff Date shall be included in the Net Tax Amount.

Net Tax Amount means, for any year, with respect to any Partner, the sum of (i) the Common Tax Amount of such Partner for such year, (ii) the Special Tax Amount of such Partner for such year, and (iii) the Adjusted Tax Amount of such Partner for such year.

Examples of Net Tax Amount in a sentence

No later than 45 days prior to the filing of the Partnership's federal information return and Schedules K-1 thereto, the Managing Partner shall deliver a draft of such return to the Advance/▇▇▇▇▇▇▇▇ Accountants, together with such workpapers as are necessary for the Advance/▇▇▇▇▇▇▇▇ Accountants to review the proposed determinations of Special Income, Maximum Income Amount, and Net Tax Amount of each of the Partners, together with the allocations required by Sections 5.3(b)(iii) and 5.3(d)(ii).
No later than 45 days prior to the filing of the Partnership's federal information return and Schedules K-1 thereto, the Managing Partner shall deliver a draft of such return to the Advance/Newh▇▇▇▇ ▇▇▇ountants, together with such workpapers as are necessary for the Advance/Newh▇▇▇▇ ▇▇▇ountants to review the proposed determinations of Special Income, Maximum Income Amount, and Net Tax Amount of each of the Partners, together with the allocations required by Sections 5.3(b)(iii) and 5.3(d)(ii).
Any overpayment of Taxes (as compared to the amount included in the Net Tax Amount) on any such Tax Returns which relate to a Pre-Closing Tax Period or Straddle Period that are actually received by the Company or any of its Subsidiaries after the Closing Date (whether by way of a refund or a credit against Taxes) shall be paid to the Seller, to the extent such refund or credit was not taken into account as part of the calculation of the Final Closing Payment.
For the avoidance of doubt, the parties hereto acknowledge that to the extent any amount of estimated Taxes or other prepayments of Taxes is included in the determination of the Net Tax Amount and reduces the amount of Estimated Closing Indebtedness or Final Closing Indebtedness, such amounts shall be treated for purposes of this Section 6.10(h) as repaid to Sellers in full.

More Definitions of Net Tax Amount

Net Tax Amount means, with respect to the Company Entities, the excess (if any) of (a) the amount of the Company Entities’ accrued Income Taxes with respect to any Tax Return related to a Pre-Closing Tax Period with an original due date (including applicable extensions) after the Closing Date (calculated in a manner consistent with Section 8.14(f)), which for the avoidance of doubt shall not be reduced by any amount included in clause (b), over (b) any estimated Income Tax payments made by or on behalf of the Company Entities with respect to such Taxes. For the avoidance of doubt, the calculation of the “Net Tax Amount” can be a negative number.

Net Tax Amount means, for any year, with respect to TWE or Paragon, the sum of (i) the Common Tax Amount of such Partner for such year and (ii) the Special Tax Amount of such Partner for such year.

Net Tax Amount has the meaning given to such term in the Reorganization Agreement.

Net Tax Amount means, without duplication, an amount (not less than $0) equal to the sum of (i) all unpaid U.S., non-U.S., state or local income Taxes of the Company Group with respect to any Pre-Closing Tax Period but excluding any liability for Taxes of the Company Group under Section 1374 of the Code arising in connection with the transactions contemplated by this Agreement and the Estimated Section 338(h)(10) Tax Amount; (ii) any liability for Taxes of the Company Group under Section 1374 of the Code arising in connection with the transactions contemplated by this Agreement minus the lesser of (X) 50% of any liability for such Taxes, or (Y) $273,000; (iii) fifty percent (50%) of the Estimated Section 338(h)(10) Tax Amount; and (iv) the amount of the employer portion of any employment-related Taxes (including payroll Taxes) for which the due date is deferred, including pursuant to Section 2302 of the CARES Act or under any similar state or local Law.

Net Tax Amount means (i) if the Closing Date is on or before March 31, 2012, the net Income Tax liability of the Company and its Subsidiaries with respect to the Pre-Closing Tax Period and any Pre-Closing Straddle Period, taking into account all Tax Deductions deductible in the Pre-Closing Tax Period and any Pre-Closing Straddle Period, and (ii) if the Closing Date is after March 31, 2012, zero (0); provided, however, that no amount included in the calculation of the Performance Bonus Tax Amount shall be included in the calculation of the Net Tax Amount.

Net Tax Amount means an amount (not less than $0) equal to the sum of (a) all accrued and unpaid federal, state, local or foreign income Taxes of the Company or any of its Subsidiaries with respect to any Pre-Closing Tax Periods, taking into account any Transaction Tax Deductions and (b) the amount of the employer portion of any employment-related Taxes (including payroll Taxes) for which the due date is deferred, including pursuant to Section 2302 of the CARES Act or under any similar state or local Law.

Net Tax Amount means an amount equal to (a) the aggregate amount of liabilities for Taxes of the Company and any Subsidiary accrued with respect to any Pre-Closing Tax Period under applicable tax Laws that are not yet due and payable as of the end of the Closing Date, minus (b) the aggregate amount of payments of estimated Taxes and other prepayments of Taxes made to the relevant Taxing Authorities in respect of such Tax liabilities and tax periods and not previously refunded or applied with respect to any other tax periods, determined, in each case, in a manner consistent with Section 6.10(c) with respect to any Straddle Tax Period. For the avoidance of doubt, the Net Tax Amount may be a positive or negative amount.