Separate Return Tax Liability means the Federal income tax liability of a Member and its subsidiaries computed as if they had filed a separate Federal income tax return for the applicable taxable year with the modifications set forth in Section 1.1552-1(a)(2)(ii) of the Regulations. If the computation of a Member's Separate Return Tax Liability as provided herein does not result in a positive amount, such Member's Separate Return Tax Liability shall be deemed to be zero.
Separate Return Tax Liability means, with respect to an ----------------------------- Affiliated Subsidiary Group for any Pre-Distribution Year, the sum of the Federal Income Tax for each member of the Affiliated Subsidiary Group for such year determined by using the method described in section 1.1502-32(b)(3)(iv)(D) of the Treasury Regulations.
Separate Return Tax Liability of the Emdeon Subgroup or Health Subgroup shall mean, with respect to any taxable year, the liability for Regular Tax and Alternative Minimum Tax for such taxable year, and any interest, penalties, and other additions to such taxes for such taxable year, computed as if the Emdeon Subgroup or the Health Subgroup, as the case may be, was not part of the Emdeon Group for such taxable year, but rather was a separate affiliated group of corporations filing a Consolidated Federal Tax Return pursuant to Section 1501 of the Code. Such computation shall be made (A) without regard to the income, deductions (including net operating loss and capital loss deductions) and credits in any year of any member of the Emdeon Group which is not a member of the relevant Subgroup, (B) with regard to net operating loss and capital loss carry-forwards from earlier years (but not carry-backs from later years except to the extent permitted by Section 2(g)) of the members of the relevant Subgroup; provided, however that no account shall be taken of any loss carryforward or other tax attribute of the Health Subgroup to the extent the Health Subgroup has previously received payment therefore pursuant to Section 2(iv) below, (C) with regard to the minimum tax credits of the relevant Subgroup, (D) as though the highest rate of tax specified in Section 11(b) of the Code were the only Regular Tax rate applicable to the relevant Subgroup and (E) consistent with the past practices of the Emdeon Group; provided, however, that such computation can depart from the past practices of the Emdeon Group in the event of a change in applicable Tax law or if Emdeon is advised by its accountants or counsel that adherence to past practices would have an adverse effect on the Emdeon Group. Transactions between the Health Subgroup and the Emdeon Subgroup that are deferred under the Treasury regulations promulgated pursuant to Section 1502 of the Code shall also be deferred for purposes of this Agreement.
Examples of Separate Return Tax Liability in a sentence
Nothing herein shall be deemed to preclude or require any allocation of the Separate Return Tax Liability of Cavco among or between Cavco and its Subsidiaries, if any.
The amount and due dates of estimated tax payments to be made by Cavco to Centex shall be determined by Centex, but shall not be, in the aggregate, less than the Cavco Group's Separate Return Tax Liability for the immediately preceding taxable period.
Centex shall apply such credit against the Separate Return Tax Liability of the Cavco Group as provided above with respect to any taxable period as of the first installment date for such year.
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If the estimated tax payment of the Group is based upon the prior taxable year's consolidated tax liability, such Subsidiary's payment under this Paragraph 2(a) shall be determined by using its Separate Return Tax Liability for such prior year, and if such estimated tax payment is based upon the current year's tax liability, such Subsidiary's payment under this Paragraph 2(a) shall be determined by using its estimated separate return tax liability for such current year.
More Definitions of Separate Return Tax Liability
Separate Return Tax Liability means, with respect to the ----------------------------- Mykrolis Affiliated Group for any Pre-Distribution Year, the sum of the Federal Income Tax for each member of the Mykrolis Affiliated Group for such year determined by using the method described in section 1.1502-32(b)(3)(iv)(D) of the Treasury Regulations and as if the Mykrolis Affiliated Group constituted a separate taxpayer.
Separate Return Tax Liability for a taxable year shall mean an amount equal to the U.S. federal income tax liability or state or local income or franchise tax liability, as the case may be, that would have been payable by the Company Group for such taxable year if the Company Group had filed a separate U.S. federal income tax return or state or local income or franchise tax return, as the case may be, for such taxable year and all prior taxable years (i.e., on a cumulative basis) for which this Agreement is or was in effect, subject to and except as set forth in the following provisions:
Separate Return Tax Liability means with respect to any Member for any taxable year the hypothetical federal income tax liability of such Member determined on a pro forma basis as if such Member had filed its own separate federal income tax return for such year and calculated by (i) taking into account only losses, credits, carryovers of losses and credits from prior or subsequent years, and other tax attributes of the Member (determined without reference to the effect of the application of the consolidated return regulations on the Member's attributes), all of which attributes are subject to the limitations of the Code that would have been applicable had the Member filed a separate federal income tax return for all taxable years relating to the computation, (ii) imposing a tax on the taxable income of the Member at a rate equal to the rate specified by the Code for the taxable year under each applicable tax provision (including without limitation the taxes imposed under Sections 11, 55 and 1201(a) of the Code), without surtax exemptions, and (iii) employing the methods and principles of accounting, elections and conventions that are used by the Group. The Separate Return Tax Liability of a Member shall include any interest or penalties that would have been shown as due had such Member filed a separate federal income tax return for the taxable year in accordance with this subparagraph (e).
Separate Return Tax Liability has the meaning ascribed thereto in Section 4(b)(1).
Separate Return Tax Liability means the tax liability described in Article 2.1.
Separate Return Tax Liability means, with respect to any consolidated return year, the federal income tax liability (including alternative minimum tax and environmental tax) which (1) in the case of a Member that is not a Parent, is computed as if the Member had filed a separate federal income tax return and (2) in the case of a Parent, is computed as if the Parent had filed a consolidated federal income return with the Members of its Subgroup. In computing separate return tax liability, each Member or Parent, as the case may be, shall follow the tax elections and other tax positions adopted or prescribed by SFER and shall take into account the adjustments and modifications set forth in Article 2.2.
Separate Return Tax Liability means, in the case of any member of the SpinCo Group, the hypothetical tax liability which would have been reported if the relevant member of the SpinCo Group had been required to report its tax liability on a SpinCo Separate Return.