S Corporation Taxable Income definition

S Corporation Taxable Income means, for periods beginning on or after the date the Company became an S corporation and ending with the close of the last day of the S Short Year, the sum of (i) the Company’s items of separately stated income and gain (within the meaning of Section 1366(a)(1)(A) of the Code) reduced, to the extent applicable, by the Company’s separately stated items of deduction and loss (within the meaning of Section 1366(a)(1)(A) of the Code) and (ii) the Company’s nonseparately computed net income (within the meaning of Section 1366(a)(l)(B) of the Code).
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S Corporation Taxable Income means the taxable income of the Company from all sources during the S Corporation Period.
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S Corporation Taxable Income means the taxable income of the Company from all sources through and including the close of business on the last day of the S Short Year of the Company.
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Examples of S Corporation Taxable Income in a sentence

  • The Company and each Shareholder agree that for income tax purposes (including for purposes of determining the Company’s S Corporation Taxable Income for its S Short Year), the Company shall allocate its items of income, gain, loss, deduction and credit for its calendar year between the S Short Year and the C Short Year in accordance with normal tax accounting rules (the “closing of the books” method).

  • Anderson, “Computing S Corporation Taxable Income: Unraveling the Mysteries of Section 1363(b),” 11(4) Business Entities 32, 39-41 (2009).

  • The Company and the Shareholder understand that for tax purposes (including for purposes of determining the Company’s S Corporation Taxable Income for its S Short Year) the Company will be required to allocate its items of income, gain, loss, deduction and credit for its calendar year between the S Short Year and the C Short Year on a “pro rata” basis in accordance with Section 1362(e)(2) of the Code.

  • In addition, any refunds of taxes actually realized by a Member attributable to the Corporation's S Corporation Taxable Income shall be promptly paid over to the Corporation, provided, however, that the payments made by any such Member pursuant to this Section 25.5.2 shall not exceed the Tax Benefit Amount actually realized by such Member as a result of such Determination or the amount of such refund, as the case may be.

  • Actual results or events may differ materially from this release.


More Definitions of S Corporation Taxable Income

S Corporation Taxable Income taxable income (or loss) of the Corporation from all sources during the period the Corporation was an S Corporation through and including the close of business on the last day of the S Short Year of the Corporation;
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S Corporation Taxable Income means, for periods beginning on or after the date Carrizo Production became an S corporation and ending with the Final Year, the sum of (i) Carrizo Production's items of separately stated income and gain (within the meaning of section 1366(a)(1)(A) of the Code) reduced, to the extent applicable, by Carrizo Production's separately
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S Corporation Taxable Income of a Stockholder shall mean such Stockholder's allocable share of taxable income of the Company (or RTT) from all sources for all periods in which it and RTT qualified as an S Corporation for federal income tax purposes through and including the close of business on the last day of the S Short Year of the Company.
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S Corporation Taxable Income means, for periods beginning on or after the date Carrizo became an S corporation and ending with the S Short Year, the sum of (i) Carrizo's items of separately stated income and gain (within the meaning of section 1366(a)(1)(A) of the Code) reduced, to the extent applicable, by Carrizo's separately stated items of deduction and loss (within the meaning of section 1366(a)(1)(A) of the Code) and (ii) Carrizo's nonseparately computed net income (within the meaning of section 1366(a)(1)(B) of the Code).
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S Corporation Taxable Income means taxable income (or loss) of ---------------------------- the Company from all sources during the period the Company was an S Corporation through and including the close of business on the last day of the S Short Year of the Company.
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S Corporation Taxable Income has the meaning given in Section 4.10.
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S Corporation Taxable Income means, for periods beginning on or after the date ACSYS became an S corporation and ending with the S Short Year, the sum of (i) ACSYS' items of separately stated income and gain (within the meaning of section 1366(a)(1)(A) of the Code) reduced, to the extent applicable, by ACSYS' separately stated items of deduction and loss (within the meaning of section 1366(a)(1)(A) of the Code) and (ii) ACSYS' nonseparately computed net income (within the meaning of section 1366(a)(1)(B) of the Code).
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