Taxable member definition

Taxable member means a member that is subject to tax pursuant to the Corporation Business Tax Act (1945), P.L.1945, c.162 (C.54:10A-1 et seq.).
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Taxable member means a Member that generally is not exempt from federal, state, or local income taxation and franchise taxation. With respect to any Member that is taxed as a partnership, the determination shall be made with respect to such Member’s partners or members, and such Member shall be a Taxable Member if all of its partners or members generally are not exempt from federal, state, or local income taxation and franchise taxation, and shall be a Partially Taxable Member to the extent that it has both taxable and tax-exempt or partially taxable partners or members. It is anticipated that Holdco will be a Taxable Member.
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Taxable member means a member that is subject to tax
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Examples of Taxable member in a sentence

  • Taxable member" means a member that is subject to tax pursuant to the Corporation Business Tax Act (1945), P.L.1945, c.162 (C.54:10A-1 et seq.).

  • Taxable member protected by PL 86‑272 (only subject to capital base tax).

  • Taxable member is a member that is subject to tax pursuant to the Corporation Business Tax Act (1945), P.L.1945, c.162 (C.54:10A-1 et seq.).


More Definitions of Taxable member

Taxable member means a Member that generally is not exempt from federal, state, or local income taxation and franchise taxation.
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Taxable member means a member that is subject to tax pursuant to the Corporation Business Tax Act, P.L. 1945, c. 162 (N.J.S.A. 54:10A- 1 et seq.). A member shall be a taxable member even if such member only owes the minimum tax. A New Jersey S corporation shall only be included as a taxable member of a combined group filing a New Jersey combined return if the New Jersey S corporation elects to be included as a member and taxed at the same rate as the other members of the combined group. A New Jersey S corporation that does not elect to be included shall be excluded as a member of the combined return and shall file a separate return.
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Taxable member. Any Member other than a Tax-Exempt Member or an individual.
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Related to Taxable member

  • Taxable Year means a taxable year of the Corporate Taxpayer as defined in Section 441(b) of the Code or comparable section of state or local tax law, as applicable (and, therefore, for the avoidance of doubt, may include a period of less than 12 months for which a Tax Return is made), ending on or after the IPO Date.