Profit Taxes definition

Profit Taxes of such Stockholder shall mean the net amount of income taxes (U.S. federal, state and local) actually incurred by such Stockholder solely as a result of the receipt of Profits by such Stockholder determined taking into account any deduction, loss or offset against income taxes attributable to the payment of Profits by such Stockholder to Parent in accordance with the terms of this Agreement; provided, however, that solely for the purposes of calculating Profit Taxes, clause (B) of the definition of Profits contained in Section 2(h)(ii) shall be disregarded. Solely for purposes of calculating Profit Taxes, in the case of a Stockholder that is treated as a pass-through entity for U.S. federal, state or local income tax purposes, as the case may be, the term "Stockholder" shall mean any direct member of such pass-through entity and any indirect member of such pass-through entity that owns its interest in such pass-through entity to the extent it owns such interest through one or more other pass-through entities. For the purposes of this clause, a "pass-through entity" includes without limitation, a partnership, disregarded entity, trust, subchapter S corporation, controlled foreign corporation, foreign person holding company or a passive foreign investment company to the extent a qualifying electing fund election has been made with respect to it.
Sample 1Sample 2
Profit Taxes of each Stockholder shall mean the net amount of income taxes (U.S. federal, state and local) actually incurred by such Stockholder solely as a result of either the receipt of Profits by such Stockholder or the payment of Profits by such Stockholder to Parent in accordance with the terms of this Agreement, in each case determined taking into account any income, gain, deduction, loss or offset against income taxes attributable to the payment of Profits by such Stockholder to Parent in accordance with the terms of this Agreement; provided, however, that solely for the purposes of calculating Profit Taxes, clause (B) of the definition of Profits shall be disregarded. Solely for purposes of calculating Profit Taxes, in the case of a Stockholder that is treated
Sample 1Sample 2

Examples of Profit Taxes in a sentence

  • Profit or Fees, Contingency Costs, Imputed Costs, Fines and Penalties, Losses, Excess Profit Taxes and increased rates for this Agreement (if not otherwise approved by the Energy Commission as described in Section 8 of this Agreement).

  • Matthew Higgins, Tax Reform and U.S. Effective Profit Taxes: From Low to Lower, Liberty Street Economics, October 22, 2018, https://libertystreeteconomics.newyorkfed.org/2018/10/tax-reform-and-us-effective-profit-taxes- from-low-to-lower.html.

  • It established additional tax liabilities (Profit Taxes and VAT) and delay penalties for failure to pay these taxes on time.

  • The range of these expenses is indicated, i.e. the expenses for acquisition of long -term tangible and intangible assets, expenses for such activities etc.NAS 12- Accounting for Profit Taxes.

  • The mining sector tax system is established in the Mining Code, and consists of three items: Mining Royalties (MR), the Profit Taxes on Company Profits (IUE) and the windfall tax in addition to IUE (AA-­‐IUE).

  • Determination of Profit Taxes Taxes on profits (current and deferred) are determined by Caixa based on the rules defined by the tax regime in force.

  • Economic Amnesia: The Case against Oil Price Controls and Windfall Profit Taxes by Jerry Taylor and Peter Van Doren (January 12, 2006)560.

  • First, it contributes to the literature examining the implications of CEO political ideology by showing how it shapes innovation as a significant source of a firm’s competitive advantage and long-term performance (DiMasi, 2000; Schumpeter, 1942).

  • For example, article 2.35 (Taxpayers) of the instructions corresponds to article 35 (Taxpayers) of the Tax Code, which is found in Part 2 (Income and Profit Taxes) of the Tax Code.

  • For constitution, maintenance and write-off of deferred tax assets, the criteria established by CPC 32 - Profit Taxes are observed and are supported by a realization capacity study.

Related to Profit Taxes

  • Income Taxes means any Tax which is based upon, measured by, or calculated with respect to (i) net income or profits (including, but not limited to, any capital gains, gross receipts, value added or minimum Tax) or (ii) multiple bases (including, but not limited to, corporate franchise, doing business or occupation Taxes) if one or more of the bases upon which such Tax may be based, by which it may be measured, or with respect to which it may be calculated is described in clause (i) of this sentence.

  • Asset Taxes means all ad valorem, property, excise, severance, production or similar Taxes (including any interest, fine, penalty or addition to Tax imposed by a taxing authority in connection with such Taxes) based upon operation or ownership of the Assets or the production of Hydrocarbons therefrom but excluding, for the avoidance of doubt, (a) income, capital gains, franchise and similar Taxes and (b) Transfer Taxes.

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

  • input tax , in relation to a vendor, means—

  • Base Taxes means the Taxes payable for the Base Tax Year.

  • 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.

  • Cash Taxes in respect of any fiscal period means amounts actually paid by the Companies in such fiscal period in respect of income and capital Taxes (whether relating to such fiscal period or any other fiscal period).

  • Tax Revenue means, with respect to the Project Area, (a) those tax revenues referred to (1) in the last sentence of the first paragraph of Article VIII, Section 12 of the Constitution of the State and (2) in Section 18-2147, Reissue Revised Statutes of Nebraska, as amended, and (b) all payments made in lieu thereof.

  • New Taxes means (i) any Taxes enacted and effective after the Effective Date, including, without limitation, that portion of any Taxes or New Taxes that constitutes an increase, or (ii) any law, order, rule or regulation, or interpretation thereof, enacted and effective after the Effective Date resulting in the application of any Taxes to a new or different class of parties.

  • Taxes means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.

  • Payroll Taxes means State Unemployment Insurance (“SUI”), Federal Unemployment Insurance (“FUI”) and payments pursuant to the Federal Insurance Contributions Act (“FICA”).

  • Local taxes means all taxes levied other than taxes levied for school operating purposes.

  • Connection Income Taxes means Other Connection Taxes that are imposed on or measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes.

  • Net Tax Benefit has the meaning set forth in Section 3.1(b) of this Agreement.

  • tax dues means the tax payable under this Act and does not include interest, fee and penalty; and

  • Tax Payments has the meaning set forth in the definition of Permitted Payments to Parent.

  • Tax Revenues means the Personal Income Taxes and such other revenues, including Alternative Revenues (but excluding Building Aid), as the Authority may derive directly from the State from taxes imposed by the City or the State and collected by the State.

  • Operating Profits means, as applied to any Person for any period, the operating income of such Person for such period, as determined in accordance with GAAP.

  • Gross Operating Profit For any Fiscal Year, the excess of Gross Revenues for such Fiscal Year over Gross Operating Expenses for such Fiscal Year.

  • Net Taxable Income has the meaning set forth in Section 4.01(b)(i).

  • Net Income means, with respect to any specified Person, the net income (loss) of such Person, determined in accordance with GAAP and before any reduction in respect of preferred stock dividends, excluding, however:

  • Foreign taxes means value-added taxes and custom duties assessed by a foreign government on a commodity. It does not include foreign sales taxes.

  • Employment Taxes means all fees, Taxes, social insurance payments or similar contributions to a fund of a Governmental Authority with respect to wages or other compensation of an employee or other service provider.

  • Consolidated Taxes means, with respect to any Person for any period, the provision for taxes based on income, profits or capital, including, without limitation, state, franchise, property and similar taxes, foreign withholding taxes (including penalties and interest related to such taxes or arising from tax examinations) and any Tax Distributions taken into account in calculating Consolidated Net Income.

  • Income Tax Expense means for Borrower and its Subsidiaries, on a consolidated basis for any period, all state and federal income taxes (including without limitation Texas franchise taxes) paid or due to be paid during such period.

  • Consolidated Income Taxes means, with respect to any Person for any period, taxes imposed upon such Person or other payments required to be made by such Person by any governmental authority which taxes or other payments are calculated by reference to the income or profits of such Person or such Person and its Restricted Subsidiaries (to the extent such income or profits were included in computing Consolidated Net Income for such period), regardless of whether such taxes or payments are required to be remitted to any governmental authority.