Tax Rate means, for any Fiscal Year, the sum of (i) the highest then marginal income tax rate for individual taxpayers as set forth in the IRC and (ii) the highest then marginal income tax rate for individual taxpayers in effect in the State of Delaware.
For the avoidance of doubt, the Assumed Tax Rate will be the same for all Partners.
The Tax Distributions payable with respect to any Fiscal Year shall be computed based upon the General Partners estimate of the allocable Net Taxable Income in accordance with Article V, multiplied by the Assumed Tax Rate (the Tax Amount).
School districts are not required to exert a minimum Operating Tax Rate in order to qualify for assistance under this Section.
Tax Rate 1-Tax Rate The Tax Rate for purposes of computing the GUP shall be the highest marginal federal and state income and employment-related tax rate, including any applicable excise tax rate, applicable to Executive in the year in which the payment under Clause (i) is made.
During any Auction Rate Period, the Company on behalf of the Authority shall provide the Trustee and, so long as no Event of Default has occurred and is continuing and the ownership of any Auction Rate Bonds is maintained in book-entry form by the Securities Depository, the Auction Agent, with notice of any change in (a) the Statutory Corporate Tax Rate under the Indenture, (b) the Applicable Percentage, or (c) the maximum rate permitted by law on the Bonds.