Presumed Tax Liability means, with respect to the Capital Account of any Partner for any Quarterly Period ending after the date hereof, an amount equal to the product of (x) the amount of taxable income that, in the good faith judgment of the General Partner, would have been allocated to such Partner in respect of such Partner’s Units if allocations pursuant to the provisions of Article VI hereof were made in respect of such Quarterly Period and (y) the Presumed Tax Rate as of the end of such Quarterly Period.

Presumed Tax Liability for any Person that is not a Pass Through Entity for any period, an amount equal to the product of (a) the Taxable Income allocated or attributable to such Person (directly or through one or more tiers of Pass Through Entities) (net of taxable losses allocated to such Person with respect to any Loan Party that (i) are, or were previously, deductible by such Person and (ii) have not previously reduced Taxable Income) and (b) the Presumed Tax Rate.

Presumed Tax Liability means, for any Member, for any Fiscal Year, an amount equal to the product of (a) the amount of the Company’s taxable income allocated to such Member for that Fiscal Year and (b) the Presumed Tax Rate.

Examples of Presumed Tax Liability in a sentence

The Board shall have the discretion to make such reasonable assumptions or adjustments in determining the amount of Presumed Tax Liability of any Member with respect to any period.
For each Fiscal Year, the Company shall, not later than ninety (90) days following the end of such Fiscal Year, distribute to each Member, with respect to such Fiscal Year, Distributable Cash Flow in an amount equal to such Member’s Presumed Tax Liability for such Fiscal Year (a “Tax Distribution”).

More Definitions of Presumed Tax Liability

Presumed Tax Liability means, for any Person that is not a Pass Through Entity for any period, an amount equal to the product of (a) the Taxable Income allocated or attributable to such Person (directly or through one or more tiers of Pass Through Entities) (net of taxable losses allocated to such Person with respect to Xxxx Las Vegas, the Completion Guarantor or any of the Restricted Subsidiaries that (i) are, or were previously, deductible by such Person and (ii) have not previously reduced Taxable Income), and (b) the Presumed Tax Rate.

Presumed Tax Liability means for any Person that is not a Pass Through Entity for any period, an amount equal to the product of (x) the Taxable Income allocated or attributable to such Person (directly or through one or more tiers of Pass Through Entities) (net of taxable losses allocated to such Person with respect to the Borrower that (1) are, or were previously, deductible by such Person and (2) have not previously reduced Taxable Income), and (y) the Presumed Tax Rate;

Presumed Tax Liability for any Member for any Fiscal Year means an amount equal to the tax liability of such Member with respect to net income and capital gain allocated to such Member with respect to such Fiscal Year assuming such income was taxable at the Presumed Applicable Tax Rates associated with such income and giving effect to the deductions and capital losses allocated to such Member during such Fiscal Year.

Presumed Tax Liability means, with respect to any Member for any Quarterly Period ending after the date hereof, an amount equal to the product of (x) the amount of taxable income that, in the good faith judgment of the Managing Member, would have been allocated to such Member (pursuant to the provisions of Article V hereof) if such allocations were made in respect of such Quarterly Period (but only to the extent such taxable income exceeds the cumulative net losses allocated to such Member and its predecessors and transferors on or after the Closing Date) and (y) the Presumed Tax Rate as of the end of such Quarterly Period. The computation of Presumed Tax Liability shall not take into account any deductions accruing to any Member as a result of the recovery of a basis adjustment pursuant to Code Section 743.

Presumed Tax Liability for any Member for any Fiscal Year means an amount equal to the product of (a) the amount of taxable income (including any tax items required to be separately stated under Section 703) allocated to such Member for such Fiscal Year pursuant to Article IV, and (b) the combined effective federal and state income tax rate, adjusted for the federal deduction for state income taxes, applicable during the Fiscal Year for computing regular ordinary income tax liabilities (without reference to minimum taxes, alternative minimum taxes, or income tax surcharges) of a natural person residing in New York, NY in the highest bracket of taxable income.

Presumed Tax Liability for the Limited

Presumed Tax Liability means, with respect to each partner of the Partnership for any Partnership taxable year, an amount equal to the product of (a) the amount of taxable income allocated by the Partnership to such partner for such taxable year and (b) the Effective Tax Rate.