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.
Tax Liability means a Liability for any Tax.
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;

Examples of Tax Liability in a sentence

  • The Purchaser shall promptly provide notice to the Seller upon the receipt of any notice from any Governmental Authority of any pending or threatened audit or administrative or judicial proceeding involving any asserted Tax liability with respect to the Company relating to a Pass-Through Income Tax Return of the Company for any Pre-Closing Tax Period or any Straddle Tax Period (each, a “Tax Contest”).

  • There is no material difference between the amounts of the book basis and the Tax basis of any assets of Seller that is not reflected in an appropriate accrual of deferred Tax liability on the books of Seller.

  • If Customer withholds or retains Taxes, it will increase the amount payable as necessary so that after making all required withholdings or retentions Sugar receives and retains (free from any Tax liability) an amount equal to the amount it would have received had no such withholdings or retentions been made.


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, in respect of any person:
Tax Liability means any liability or obligation for Taxes.
Tax Liability means a liability of the Company to make a payment of or on account of Tax.
Tax Liability means any Liabilities related to Taxes.
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.