Tax Liability Factor definition

Tax Liability Factor means the sum of the highest marginal corporation income tax rates in effect under the Code and state corporation income tax law (which latter shall be adjusted to reflect the deductibility of state income taxes under the Code), reflected in VTransco's rates, expressed as a percentage or as a decimal as the context requires. "Tax Matters Member" has the meaning provided in Section 5.7. "Terminating Capital Transaction" means the sale, exchange or other disposition of all or substantially all of the assets of the Company, after which transaction the existence of the Company is terminated. "Transfer" has the meaning provided in Section 8.1(b). "Transmission Assets" means the Transmission Facilities and any associated land rights. "Transmission Facility" means any duct, wire, line, conduit, pole, tower, equipment or other structure or associated equipment, controls or facility used for moving, transfering and/or transmitting electric power, energy, and/or ancillary sevices in bulk between points of supply and points at which it is transformed for delivery over a distribution system or is delivered to other electric systems, including facilities for communications control, and operation with respect to such activities, of the type or kind subject to the jurisdiction of FERC, that is contributed to or owned or leased by the Company, and including every type of asset now used by VELCO in its transmission business, and every type of asset which now or at a future time may be used in the transmission industry in accordance with Good Utility Practice. "VELCO" means Vermont Electric Power Company, Inc., a corporation duly organized under the laws of the State of Vermont, and any Subsidiary thereof. "Vermont Distribution Utility" means, any Vermont electricity distribution company which is a current Member of the Company, and also means Rochester Electric Light & Power Company and Vermont Marble Power Division of OMYA, Inc. ARTICLE II FORMATION OF COMPANY SECTION 2.1 Name, Office, Registered Agent and Continuance. The name of the Company shall be VERMONT TRANSCO LLC. The business of the Company may be conducted under that name or, on compliance with applicable laws, any other name that the Manager deems appropriate or advisable. The Manager on behalf of the Company shall file any certificates, articles, fictitious business name statements and the like, and any amendments and supplements thereto, as the Manager considers appropriate or advisable. For purposes of 11 V....

Examples of Tax Liability Factor in a sentence

  • In the event that Rhode Island or the federal government enacts increases to taxes and/or assessments, BCBSRI reserves the right to modify the Tax Liability Factor component to fund such increases going forward.

  • Total Variable Retention Factor is 1 minus the sum of the Reserve Factor plus the Tax Liability Factor plus the Investment Income Credit.

  • Tax Liability Factor for prospective premium accounts includes 2.00% state premium tax liability.

  • Tax Liability Factor for prospective premium accounts includes the 2.00% state premium tax liability.

  • Tax Liability Factor for prospective premium accounts includes the federal tax liability and 2.00% state premium tax liability.

  • DIRECTORS’ REPORT LUCENT GASWORKS APARTMENTS, BRISBANE European Oak Flooring DIRECTORS’ REPORT TO SHAREHOLDERSEngineering The Group faced a challenging year, particularly in the second half as the market for construction materials slowed across Australia.

  • Nothing herein shall limit the United StatesWAPA or Federally Recognized Indian Tribes and Tribal ContractAgreementors which are signatories to the JPPA Agreement from conducting government-to-government consultations and communications at any time.

Related to Tax Liability Factor

  • 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.

  • Hypothetical Tax Liability means, with respect to any Taxable Year, the Hypothetical Federal Tax Liability for such Taxable Year, plus the Hypothetical Other Tax Liability for such Taxable Year.

  • S&P Volatility Factor means 277% or such other potential dividend rate increase factor as S&P advises the Corporation in writing is applicable.

  • Actual Tax Liability means, with respect to any Taxable Year, the liability for Covered Taxes of the Corporation (a) appearing on Tax Returns of the Corporation for such Taxable Year and (b) if applicable, determined in accordance with a Determination (including interest imposed in respect thereof under applicable law).

  • Assumed Tax Liability means, with respect to any Member, an amount equal to the excess of (i) the product of (A) the Distribution Tax Rate multiplied by (B) the estimated or actual cumulative taxable income or gain of the Company, as determined for federal income tax purposes, allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, less prior losses of the Company allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, in each case, as determined by the Manager and to the extent such prior losses are available to reduce such income over (ii) the cumulative Tax Distributions made to such Member after the closing date of the IPO pursuant to Sections 4.01(b)(i), 4.01(b)(ii) and 4.01(b)(iii) and, if applicable with respect to such Fiscal Year, pursuant to Section 4.1(a) of the Previous LLC Agreement; provided that, in the case of the Corporation, such Assumed Tax Liability (x) shall be computed without regard to any increases to the tax basis of the Company’s property pursuant to Sections 734(b) or 743(b) of the Code and (y) to the extent permitted under the Credit Agreements and applicable Law, shall in no event be less than an amount that will enable the Corporation to meet both its tax obligations and its obligations pursuant to the Tax Receivable Agreement for the relevant Taxable Year; provided further that, in the case of each Member, and for the avoidance of doubt, such Assumed Tax Liability shall take into account any Code Section 704(c) allocations (including “reverse” 704(c) allocations) to the Member.

  • Tax Liabilities means all liabilities for Taxes.

  • State premium tax liability means any liability

  • Tax Period means, with respect to any Tax, the period for which the Tax is reported as provided under the Code or other applicable Tax Law.

  • Straddle Tax Period means a Tax period that begins on or before the Closing Date and ends after the Closing Date.

  • Capacity factor means the ratio of the average load on a machine or equipment for the period of time considered to the capacity rating of the machine or equipment.

  • Separate Return means (a) in the case of any Tax Return of any member of the SpinCo Group (including any consolidated, combined or unitary return), any such Tax Return that does not include any member of the Parent Group and (b) in the case of any Tax Return of any member of the Parent Group (including any consolidated, combined or unitary return), any such Tax Return that does not include any member of the SpinCo Group.

  • Tax Adjustment has the meaning set forth in Section 4.7.

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

  • Straddle Period means any taxable period beginning on or before the Closing Date and ending after the Closing Date.

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

  • Ultimate Net Loss as used herein is defined as the sum or sums (including loss in excess of policy limits, extra contractual obligations and loss adjustment expense, as hereinafter defined) paid or payable by the Company in settlement of claims and in satisfaction of judgments rendered on account of such claims, after deduction of all salvage, all recoveries and all claims on inuring insurance or reinsurance, whether collectible or not. Nothing herein shall be construed to mean that losses under this Contract are not recoverable until the Company's ultimate net loss has been ascertained.

  • 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.

  • Tax Loss means the taxable income or tax loss of the Trust, determined in accordance with Section 703(a) of the Code, for each Fiscal Year as determined for federal income tax purposes, together with each of the Trust's items of income, gain, loss or deduction which is separately stated or otherwise not included in computing taxable income and tax loss.

  • True-Up Amount means the difference between the ABO calculated by using the member’s actual creditable service and the actual final average compensation as of the member’s effective date in the FRS Investment Plan and the ABO initially transferred.

  • Joint Return means any Return of a member of the Parent Group or the SpinCo Group that is not a Separate Return.

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

  • True-Up Adjustment means any Annual True-Up Adjustment or Interim True-Up Adjustment, as the case may be.

  • Fixed Retained Yield Rate With respect to each Mortgage Loan, a per annum rate equal to the greater of (a) zero and (b) the Mortgage Interest Rate on such Mortgage Loan minus the sum of (i) 6.500%, (ii) the applicable Servicing Fee Rate and (iii) the Master Servicing Fee Rate.

  • Effective tax rate means the rate that will produce last year’s total tax levy (adjusted) from this year’s total taxable values (adjusted). “Adjusted” means lost values are not included in the calculation of last year’s taxes and new values are not included in this year’s taxable values.

  • Erroneous Payment Return Deficiency has the meaning assigned thereto in Section 10.12(d).

  • Fixed Retained Yield The fixed percentage of interest on each Mortgage Loan with a Mortgage Interest Rate greater than the sum of (a) 6.500%, (b) the applicable Servicing Fee Rate and (c) the Master Servicing Fee Rate, which will be determined on a loan by loan basis and will equal the Mortgage Interest Rate on each Mortgage Loan minus the sum of (a), (b) and (c), which is not assigned to and not part of the Trust Estate.