Tax Status definition

Tax Status means the status of Bonds as Tax-Exempt Bonds or Taxable Bonds.

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Tax Status means (i) the exclusion from gross income for federal income tax purposes of the interest on any Bonds issued as tax-exempt obligations, or (ii) the right of a bondowner (or other investor) to receive tax credits or the right of UAMPS to receive interest subsidy payments on any Bonds issued as tax credit bonds or interest subsidy bonds, respectively, in each case pursuant to the provisions of the Code.

Tax Status. AUL does not make any guarantee regarding the federal, state, or local tax status of the Contract, any Participant Account established thereunder, or any transaction involving the Contract.

Examples of Tax Status in a sentence

The Bank may establish procedures, correct any defect, supply any information, or reconcile any inconsistency in such manner and to such extent as shall be deemed necessary or advisable to carry out the purpose of the Agreement; provided, however, that any such procedure, discretionary act, interpretation or construction shall be consistent with the intent set forth in the Income Tax Status and ERISA Status paragraphs above.
To the extent that a premium payment would cause such limits to be exceeded, we will refund the excess payment to you, in accordance with the Modified Endowment Contract Tax Status section of this policy.
In the event that a premium payment would cause the 7-Pay limit to be exceeded, we will refund the excess payment to you, unless you have provided a Written Request in which you accept your policy being classified as a Modified Endowment Contract and indicate that we may accept such payments and apply them to the policy, in accordance with the Modified Endowment Contract Tax Status section of this policy.
The representations and warranties set forth in this Section 3.1(l) do not apply to Labor Relations, Regulatory Permits, ▇▇▇▇▇▇▇▇-▇▇▇▇▇, Tax Status, Foreign Corrupt Practices and FDA to the extent such matters are expressly addressed in Sections 3.1(k), 3.1(m), 3.1(r), 3.1(z), 3.1(aa) and 3.1(ee), respectively.
Unless and until you have given us a Written Request to accept a Modified Endowment Contract (“MEC”) classification for your Policy, the provisions of this Modified Endowment Contract Tax Status subsection apply to your Policy.

More Definitions of Tax Status

Tax Status means the status of Certificates as Tax-Exempt Obligations.

Tax Status means the status of the Bonds as Tax-Exempt Bonds or Recovery Zone Economic Develop- ment Bonds, as applicable.

Tax Status in respect of each Loan Party: (i) it and each of its Subsidiaries and Affiliates: (A) has made or filed all federal and state income and all other tax returns, reports and declarations required by any jurisdiction to which it is subject or filed extensions therefor; (B) has paid all taxes and other governmental assessments and charges shown or determined to be due on such returns, reports and declarations, except those being contested in good faith and by appropriate proceedings; and (C) has set aside on its books provisions reasonably adequate for the payment of all taxes for all elapsed periods subsequent to the periods to which such returns, reports or declarations apply; and (ii) there are no unpaid taxes in any material amount claimed to be due by the taxing authority of any jurisdiction in respect of it or any of its Subsidiaries or Affiliates, and no officer of the Borrower knows of any basis for any such claim;

Tax Status means the status of Certificates as Tax-Exempt Obligations. “Term Sheet” means the Term Sheet authorized in Section 4.

Tax Status means (i) the exclusion from gross income for federal income tax purposes of the interest on any Bonds issued by the Issuer as tax exempt obligations or (ii) tax credits or interest subsidies on any Bonds issued by the Issuer as tax credit bonds or interest subsidy bonds, in each case pursuant to the provisions of the Code.

Tax Status. All educational reimbursements are subject to income tax laws and regulations as determined by the Internal Revenue Service. Employees may have to report any amounts received under the Educational Reimbursement Plan as taxable income.

Tax Status means the status of Bonds as Tax-Exempt Bonds, Direct Payment BABs or Direct Pay- ment QSCBs.