State Tax Rate definition
State Tax Rate means with respect to each Taxable Event the highest marginal state tax rate applicable to income or gain having the same character as the income or gain arising from such Taxable Event applicable to the Protected Person in effect for the Taxable Period in issue; and shall be determined with respect to the state in which such income is taxable to the Protected Person having the highest marginal state tax rate, whether such state is the one in which the applicable property is located or the state of residence of the Protected Person subject to the provisions of Section 2(g)(iii). Appropriate adjustments shall be made if more than one non-federal income tax applies within a state.
State Tax Rate means, with respect to a particular state or locality, the highest applicable tax rate imposed under applicable law on the Separate Group Taxable Income of the Group for the relevant Taxable period (or portion thereof).
State Tax Rate under the caption "Taxable Equivalent Yield Table - California" and in Appendix D to the Statement of Additional Information, insofar as they constitute matters of law or legal conclusions, constitute accurate statements of any such matters of law or legal conclusions, and fairly present the information called for with respect thereto by Form N-2 as of the Closing Date. Such counsel shall also have furnished to the Underwriters a statement, addressed to the Underwriters, dated as of the Closing Date, to the effect that such counsel has participated in the preparation of, and has had discussions with representatives of the Fund concerning, the statements set forth in the Registration Statement and the Prospectus under the caption "The Fund's Investments - Municipal Bonds -- Special Considerations Relating to California Municipal Bonds", "Tax Matters -- California Tax Matters", in the column titled "State Tax Rate" under the caption "Taxable Equivalent Yield Table - California" and in Appendix D to the Statement of Additional Information, and that based upon the foregoing, no facts have come to the attention of such counsel which would lead them to believe that the statements contained in the Registration Statement under such captions, as of the effective date, contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading or that the statements contained in the Prospectus under such captions at the Closing Date contain any untrue statement of a material fact or omit to state any material fact required to be stated therein, in light of the circumstances under which they were made, not misleading.
Examples of State Tax Rate in a sentence
State Tax Rate: 2.5% as reflected in the Schedules of Periodic Rent, Lease Debt Amortization, Termination Values and the Pricing Assumptions.
If a Contributor is not an individual, any State Tax Rate required to be determined with respect to the residence of the individuals that own such Contributor shall be determined with respect to the state having those individuals as residents that have the greatest total percentage ownership interest in such Contributor.
The initial Parking Charges per month are subject to adjustment for increases in the State tax rate for taxable items sold or leased (the "STATE TAX RATE") and any increases in the State Tax Rate shall be "passed through" to the Tenant and shall result in an increase in TENANT's Parking Charges per month.
More Definitions of State Tax Rate
State Tax Rate means with respect to each Taxable Event the highest marginal state tax rate applicable to income having the same character (e.g., ordinary income or long-term capital gain) as that arising from such Taxable Event applicable to the Contributor in effect for the Taxable Period in issue; and shall be determined with respect to the state in which such income is taxable to the Contributor or its owners having the highest marginal state tax rate, whether such state is the one in which the applicable property is located or the state of residence of the Contributor or its owners subject to the provisions of Section 2.1(g)(iii). Appropriate adjustments shall be made if more than one non-federal income tax applies within a state.