Tax Liability definition

Tax Liability means the total taxes due to a municipal corporation for the taxable year, after allowing any credit to which the taxpayer is entitled, and after applying any estimated tax payment, withholding payment, or credit from another taxable year.

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Tax Liability means any amount of tax or social security contributions for which a Participant would or may be liable and for which any Group Member or former Group Member would or may be obliged to (or would or may suffer a disadvantage if it were not to) account to any relevant authority;

Tax Liability means an Actual Tax Liability or a Deemed Tax Liability.

Examples of Tax Liability in a sentence

The Members acknowledge and agree that, subject to the provisions of this Section 6.15, the Board or the Partnership Representative shall be permitted to take any actions to avoid Tax Liability being imposed on the Company or any of its Subsidiaries or Portfolio Companies under Subchapter C of Chapter 63 of the Code.
To the extent that a portion of a Tax Liability for a prior tax year relates to a former Member, subject to the application of Section 6.15(e)(i), the Board (or the Partnership Representative, in consultation with the Board) may require a former Member to indemnify the Company for its allocable portion of such tax.
Any Tax Liability that is payable by the Company shall, to the extent attributable to a Member’s (or a former Member’s) interest in the Company, be treated as distributed or otherwise paid to such Member in the same manner as a withholding tax.

More Definitions of Tax Liability

Tax Liability means any Liabilities related to Taxes.

Tax Liability means any liability (whether known or unknown, whether absolute or contingent, whether liquidated or unliquidated, and whether due or to become due) with respect to Taxes.

Tax Liability means any liability or obligation for Taxes.

Tax Liability means any liability of any of the Group Entities to make an actual payment of (or in respect of) Tax.

Tax Liability has the meaning set forth in Section 14.6.1.

Tax Liability means a Liability for any Tax.

Tax Liability the total of (a) any income tax and primary class 1 (employee) national insurance contributions that any employer (or former employer) of the Participant is liable to account for (or reasonably believes it is liable to account for) as a result of any Taxable Event; and (b) any Employer NICs that any employer (or former employer) of the Participant is liable to pay (or reasonably believes it is liable to pay) as a result of any Taxable Event and that can be recovered lawfully from the Participant.