Definition of Tax Estimation Period

Tax Estimation Period means each period (determined without regard to any prior periods) for which an estimate of corporate federal income tax liability is required to be made under the Code.

Examples of Tax Estimation Period in a sentence

To the extent permitted under the Act, within fifteen (15) days following the end of each Tax Estimation Period, the Manager shall use commercially reasonable efforts to cause the LLC to distribute to the Members cash in an amount equal to the LLC's Adjusted Taxable Income allocated to such Member for the Tax Estimation Period in question (provided that the LLC's Adjusted Taxable Income is a positive number), multiplied by the Combined Effective Marginal Tax.
Tax distributions pursuant to this Section 3.1 with respect to each Tax Estimation Period shall be made to the Members in proportion to the Current Net Positive Allocable Income in such Tax Estimation Period that is allocable to them based on their entitlement to distributions pursuant to Section 3.2(b).