Net Tax Liability definition

Net Tax Liability means a positive number equal to: (i) an amount equal to all unpaid Taxes of the Purchased Entities at the Closing Time (including as may result as a consequence of the Reorganization) related to a Pre-Closing Tax Period of a Purchased Entity, minus (ii) the Closing Cash.

Net Tax Liability means the deferred and any other tax liability arising from termination of Xxxxxxxx'x status as an S Corporation (e.g. cash to accrual adjustment) net of the value of tax benefits associated with the Acquired Companies' U.K. net operating losses and amortization of purchased intangibles in the U. K..

Net Tax Liability means, with respect to any Costs of an Indemnified Party, the amount, if any, by which (a) the sum of all federal, state and local Taxes, if any, required to be paid by the Indemnified Party in respect of the receipt or accrual of any payments by any Indemnifying Parties in respect of such Costs under Article VIII exceeds (b) the present value of any reduction in taxes of such Indemnified Party by reason of deductions, credits or allowances ("Tax Benefits") in respect of the payment or accrual of the Costs recognized by such Indemnified Party.

Examples of Net Tax Liability in a sentence

• ASSETS ACQUIRED FOR LEASING CostAt 1 January 2014 39,929 2013 26,291Additions during the year20,21817,824Settlements / adjustments during the year(9,781)(4,186)At 31 December50,36639,929 Accumulated depreciationAt 1 January 7,868 5,353Charge for year9,2986,701Settlements during the year(9,781)(4,186)At 31 December7,3857,868 Net book value at 31 December 42,981 32,061At 31 December 2014, accrued lease rental receivable amounted to BD 798 thousand (2013: BD 3,569 thousand).

• Aggregate Net Tax of Group Members-Refundable Tax Credits = Combined Group's Net Tax Liability* Each member calculates net tax individually.

• The total purchase price for the Purchased Shares is an amount equal to: (i) C$84,340,448, less (ii) the Net Tax Liability, plus, (iii) as of the Reference Date, C$337,361,791 (the “Purchase Price”).

• Exhibit 4: Example Calculation of Separate Entity Net Tax Liability for Wisconsin Parent and Three Subsidiaries WI ParentWI SubsidiaryIL SubsidiaryDE SubsidiarA.

• Hon’ble Telangana High Court on the issue of payment of interest on 'Gross Tax Liability' or 'Net Tax Liability' under the GST laws held that interest liability on Input Tax Credit (ITC) portion of the tax liability cannot be found fault with, that is to say, interest for the delayed payment of output tax liability of GST shall also be required to be paid on the liability paid by way of ITC.

More Definitions of Net Tax Liability

Net Tax Liability has the meaning ascribed to it in Section 9.06.

Net Tax Liability means, in respect of any Tax liability of an MCH Company:

Net Tax Liability for each Member shall be computed by first multiplying such Member’s allocations of Net Income from the Company for the calendar year by the highest then applicable combined federal and state income tax rate for individuals, net of the effect of deduction of any such taxes, with such rate to be provided to the Manager by the Company's outside accountants. No Members shall be entitled to a Tax Distribution is such Member is in material default under any of the terms and conditions of this Agreement. All Tax Distributions to any Member shall offset the next subsequent distribution(s) to which such Member(s) may become entitled under Section 5.1. Upon dissolution of the Company, the cumulative distributions of the Members shall be computed to ensure that, notwithstanding any Tax Distributions under this Section 5.6, such cumulative distributions have been made in accordance with Section 5.1. In the event any Member has, as a result of this Section 5.6, received more distributions than it was entitled to receive under Section 5.1, such Member shall repay such excess to the Company prior to the liquidating distributions under Section 5.2 above.

Net Tax Liability shall equal the income taxes imposed on the Special Partner and its direct and indirect beneficial owners in respect of allocations and distributions to the Special Partner as determined at the highest marginal federal, state and local income tax rates applicable to an individual resident in New York, New York for the relevant periods and taking into account the character of the income underlying the applicable tax obligation (i.e., long-term capital gain, ordinary income or qualified dividend income) less the tax benefit of losses allocated to the Special Partner to reverse prior allocations of taxable income to the extent that such tax benefits are actually realized in the form of a reduction in tax liability otherwise owed as determined by the Special Partner in its sole discretion. The amount so contributed will be for the sole benefit of the Limited Partners and not creditors of the Partnership, and may be paid directly to the Limited Partners by the Special Partner.

Net Tax Liability means a claimant’s income tax liability after he or she completes the computations listed in s. 71.10 (4) (a) to (dr).

Net Tax Liability has the meaning given in Schedule 4;

Net Tax Liability means the amount of current corporation tax (and tax of like nature on profits) receivable by the MGT/IST Companies as at the Net Assets Date minus the amount of current corporation tax (and tax of like nature on profits) payable by the MGT/IST Companies as at the Net Assets Date, being the aggregate figure shown in the line labelled “E” in the Net Asset Statement, so long as the resulting amount is a negative amount, for the avoidance of doubt, excluding any deferred tax assets and tax liabilities;