Short taxable year definition

Short taxable year means a period of less than 12 months.
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Short taxable year means any Taxable Year that either begins or ends on the Closing Date or begins on the date immediately after the Closing Date, in either case by reason of the purchase and sale of the Shares.
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Short taxable year has the meaning set forth in Section 6.9(e).
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Examples of Short taxable year in a sentence

  • If a credit year is a short taxable year, then the base amount determined under section 41(c)(1) (but not section 41(c)(2)) shall be modified by multiplying that amount by the number of months in the short taxable year and dividing the result by 12.(2) Short taxable year preceding credit year.

  • If one enti- ty maintains more than 50% control over a group consisting of corporations and one, or more, partnerships and/or sole proprietorships, all of the mem- bers of the controlled group are one taxpayer for the purpose of this sec- tion.(c) Short taxable year.

  • If one or more of the four taxable years preceding the credit year is a short taxable year, then the gross re- ceipts for such year are deemed to be equal to the gross receipts actually de- rived in that year multiplied by 12 and divided by the number of months in that year.(3) Short taxable year in determining fixed-base percentage.

  • If a credit year is a short taxable year, then the base amount determined under section 41(c)(1) (but not section 41(c)(2)) shall be modi- fied by multiplying that amount by the number of months in the short taxable year and dividing the result by 12.(2) Short taxable year preceding credit year.

  • X and Y Corpora- tions must take into account the $20,000 ad- justment at the rate of $2,000 in each taxable year in the following time and manner:X CorporationCalendar years 1960–62 ($2,000×3) $6,000 Short taxable year ending Nov.

  • If one or more of the four taxable years preceding the credit year is a short taxable year, then the gross receipts for such year are deemed to be equal to the gross receipts actually derived in that year multiplied by 12 and divided by the num- ber of months in that year.(3) Short taxable year in determining fixed-base percentage.

  • The limi- tations on the amount of the allowable investment tax credit (as described in paragraph (a) of this section) and the allowable cost recovery deductions (as described in paragraphs (b) and (c) of this section) are redetermined by mul- tiplying the limitations by the percent- age of business/investment use (deter- mined on an annual basis) during the taxable year.(2) Short taxable year.

  • In the case of a CFC group, as defined in proposed § 1.163(j)- 7(f)(6), the election is not effective for any CFC group member, as defined in proposed§ 1.163(j)-7(f)(8), unless made for every taxable year of a CFC group member for which the election is available and for which the CFC group member is a CFC group member on the last day of the CFC group member’s taxable year.(4) Short taxable year.

  • Short taxable year adjustments are required for property other than real property.

  • The difference is illustrated by a simple example: sup- pose a purchaser of real estate employs a lawyer to examine the title.

Related to Short taxable year

  • Taxable Year means a taxable year of the Corporate Taxpayer as defined in Section 441(b) of the Code or comparable section of state or local tax law, as applicable (and, therefore, for the avoidance of doubt, may include a period of less than 12 months for which a Tax Return is made), ending on or after the IPO Date.

  • taxation year means the calendar year to which an assessment roll applies for the purposes of taxation;

  • Taxable Period means any taxable year or any other period that is treated as a taxable year with respect to which any Tax may be imposed under any applicable statute, rule or regulation.

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

  • 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.

  • Allocation Year Means (i) the period commencing on the Closing Date and ending on December 31, 2006, (ii) any subsequent period commencing on January 1 and ending on the following December 31, or (iii) any portion of the period described in clause (ii) for which the Company is required to allocate Profits, Losses and other items of Company income, gain, loss or deduction pursuant to Article V.

  • Taxable means either:

  • Tax Benefit Schedule is defined in Section 2.02 of this Agreement.

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

  • Base taxable value means the agreed value specified in a resolution or interlocal agreement under Subsection 17C-1-102(8) from which tax increment will be collected.

  • Taxable Allocation means, with respect to any Series, the allocation of any net capital gains or other income taxable for federal income tax purposes to a dividend paid in respect of such Series.

  • casual taxable person means a person who occasionally undertakes transactions involving supply of goods or services or both in the course or furtherance of business, whether as principal, agent or in any other capacity, in the taxable territory where he has no fixed place of business;

  • Tax Benefit Payment is defined in Section 3.1(b) of this Agreement.

  • Base Tax Year means the property tax levy year used

  • transition year means the financial year of an issuer or business in which the issuer or business changes its financial year-end;

  • Limitation Year means the Plan Year.

  • Determination Year means the Plan Year for which testing is being performed, and the “look-back year” means the immediately preceding twelve (12) month period.

  • Tax Year means a period beginning with 6th April in one year and ending with 5th April in the next;

  • Tax Detriment means any item of income, gain, recapture of credit or any other Tax Item which increases Taxes paid or payable.

  • Pre-Tax Earnings means the Corporation's earnings before income taxes as reported in the Company's Consolidated Income Statement for each fiscal year of the Performance Period, excluding any non-cash charge incurred in accordance with accounting principles generally accepted in the United States of America (GAAP) for any restricted stock or restricted stock unit awards granted during the Performance Period and all options, restricted stock and other equity compensation granted to Directors during the Performance Period.

  • council tax benefit means council tax benefit under Part 7 of the SSCBA; “couple” has the meaning given by paragraph 4;

  • Post-Distribution Tax Period means a Tax year beginning and ending after the Distribution Date.

  • Excess Deferrals means, with respect to any taxable year of a Participant, either (a) those elective deferrals within the meaning of Code §§402(g) or 402A that are made during the Participant's taxable year and exceed the dollar limitation under Code §402(g) (including, if applicable, the dollar limitation on Catch-Up Contributions defined in Code §414(v)) for such year; or (b) are made during a calendar year and exceed the dollar limitation under Code §§402(g) and 402A (including, if applicable, the dollar limitation on Catch-Up Contributions defined in Code §414(v)) for the Participant's taxable year beginning in such calendar year, counting only Elective Deferrals made under this Plan and any other plan, contract or arrangement maintained by the Employer.

  • Tax Deduction means a deduction or withholding for or on account of Tax from a payment under a Finance Document.

  • Election Year means a year in which ordinary elections for local governments are required to be held;

  • Income year means any year or accounting period beginning 1 July of one calendar year and ending 30 June of the following calendar year or any other period that the Trustees by resolution adopt;