Quarterly Estimated Income Tax definition

Quarterly Estimated Income Tax means the Estimated Income Tax Obligation of a Member with respect to the applicable calendar quarter, based on the assumption that the Member is an individual or, if a greater amount of tax would result, a corporate resident of New York City subject to the maximum federal, New York State and New York City income tax rates arising from the allocation to such Member of taxable income that is earned by the Company for all periods after the Closing Date (computed without regard to any deduction available to PubCo arising out of any exchange pursuant to the Exchange Agreement); provided, however, that if the Annual Income Tax Liability of a Member for a calendar year is less than the sum of the Quarterly Estimated Income Tax distributed to such Member pursuant to Section 5.02 for such calendar year, the amount of the subsequent distribution or distributions, as applicable, of Quarterly Estimated Income Tax shall be reduced by such excess amount.
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Quarterly Estimated Income Tax means the Estimated Income Tax Obligation of a Member with respect to the applicable calendar quarter, based on the assumption that the Member is an individual or, if a greater amount of tax would result, a corporate resident of New York City subject to the maximum federal, New York State and New York City income tax rates arising from the allocation to such Member of taxable income that is earned by the Company for all periods after the Closing Date (computed without regard to (i) any deduction available for Excess Interest Expense and (ii) any deduction available to Pubco arising out of any exchange pursuant to the Exchange Agreement); provided that if the Annual Income Tax Liability of a Member for a calendar year is less than the sum of the Quarterly Estimated Income Tax distributed to such Member pursuant to Section 5.02 for such calendar year, the amount of the subsequent distribution or distributions, as applicable, of Quarterly Estimated Income Tax shall be reduced by such excess amount.
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Related to Quarterly Estimated Income Tax

  • 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.

  • 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.

  • Estimated Incremental Quarterly Tax Amount has the meaning assigned to such term in Section 6.9.

  • Consolidated Income Tax Expense means, with respect to any Person for any period, the provision for federal, state, local and foreign income taxes of such Person and its Restricted Subsidiaries for such period as determined on a consolidated basis in accordance with GAAP.

  • Adjusted Income means, with respect to a HOME Development, the gross income from wages, income from assets, regular cash or noncash contributions, and any other resources and benefits determined to be income by HUD, adjusted for family size, minus the deductions allowable under 24 CFR §5.611.

  • 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.

  • Adjusted gross income means that term as defined in section 62 of the internal revenue code of 1986.

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

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

  • 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.

  • 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.

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

  • Quarterly Valuation Date means the last Business Day of the last month of each fiscal quarter of the Trust in each fiscal year of the Trust, commencing November 29, 2002.

  • Qualifying Income Gross income that is described in Section 856(c)(2) or 856(c)(3) of the Code.

  • Net After Tax Amount means the amount of any Parachute Payments or Capped Payments, as applicable, net of taxes imposed under Code Sections 1, 3101 (b) and 4999 and any State or local income taxes applicable to the Executive on the date of payment. The determination of the Net After Tax Amount shall be made using the highest combined effective rate imposed by the foregoing taxes on income of the same character as the Parachute Payments or Capped Payments, as applicable, in effect on the date of payment.

  • Taxable Wage Base means, with respect to any Plan Year, the contribution and benefit base under Section 230 of the Social Security Act at the beginning of such Plan Year.

  • Tax Amount has the meaning set forth in Section 4.01(b)(i).

  • Quarterly Payment Date means the last Business Day of each March, June, September and December.

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

  • 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.

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

  • Tax Payment Date means, with respect to any applicable Taxes, the date occurring 30 days prior to the date the same are due and payable.

  • Incremental Income Taxes is defined in Section 6.9.

  • Total After-Tax Payments means the total of all “parachute payments” (as that term is defined in Section 280G(b)(2) of the Code) made to or for the benefit of the Executive (whether made hereunder or otherwise), after reduction for all applicable federal taxes (including, without limitation, the tax described in Section 4999 of the Code).

  • Base Year Value means the assessed value of eligible property January 1 preceding the execution of the agreement plus the agreed upon value of eligible property improvements made after January 1 but before the execution of the agreement.

  • Tax Payment means either the increase in a payment made by an Obligor to a Finance Party under Clause 12.2 (Tax gross-up) or a payment under Clause 12.3 (Tax indemnity).