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 any Liabilities related to Taxes.

Examples of Tax Liability in a sentence

• If the Trust make any such distribution to one or more Shareholders in any fiscal quarter, the Trust shall similarly make such a distribution to each Shareholder, without duplication, based on each Shareholder’s Tax Liability for the applicable fiscal quarter (treating each such Shareholder for such purposes as if such person is taxable for U.S. federal income tax purposes and without regard to the Person’s actual tax status).

• The Trustees do not intend to make such distributions to any Shareholder to the extent that aggregate distributions made to the Shareholder during a fiscal quarter are sufficient to meet the estimated Tax Liability of such Shareholder, as determined in the sole discretion of the Advisor.

• Thus, for example, in determining the Hypothetical Tax Liability of the entity, the taxable income of the entity shall be determined by treating the entity as having sold the asset for the consideration described above, recovering any basis applicable to such asset (using the Tax basis that such asset would have had at such time if there were no Tax Attributes), while the Actual Tax Liability of the entity would be determined by recovering the actual Tax basis of the asset that reflects any Tax Attributes.

• The Trustees may, in their discretion, cause the Trust to distribute distributable funds to a Shareholder equal to the excess of the Tax Liability of such Shareholder in a particular fiscal quarter over the distributions otherwise made to such Shareholder in the fiscal quarter.

More Definitions of Tax Liability

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

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.