Temporary Difference definition

Temporary Difference means any differences between the income Tax basis and the GAAP basis of the Company’s and Bank’s assets and liabilities as recorded for either GAAP or income Tax purposes. Temporary Difference includes any net operating loss, built in loss, net capital loss, investment Tax credit, foreign Tax credit, charitable deduction or any other Tax attribute that could be carried forward or back to reduce Taxes (including deductions and credits related to alternative minimum Taxes).
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Temporary Difference means the difference between the carrying amount of an asset or a liability in the statement of financial position and its tax base.
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Temporary Difference means a difference between the tax basis of an asset or liability and its reported amount in the financial statements that will result in taxable or deductible amounts in future years when the reported amount of the asset or liability is recovered or settled, respectively. Some events recognized in financial statements do not have tax consequences. Certain revenues are exempt from taxation and certain expenses are not deductible. Events that do not have tax consequences do not give rise to temporary differences.
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Examples of Temporary Difference in a sentence

  • Such payment shall be made within ten days of the later of (i) the date the adjustment becomes final or (ii) a determination that the adjustment results in a Temporary Difference.

  • Such payment shall be made within ten days of the later of (i) the date the adjustment becomes final or the amended return or refund claim is accepted, as applicable, or (ii) a determination that the adjustment results in a Temporary Difference.

  • Upon the adjustment becoming final, or the amended return or refund claim being accepted, as applicable, (i) if the adjustment results in a Permanent Difference, no payment shall be made to TXEN and (ii) if the adjustment results in a Temporary Difference, Nich▇▇▇ ▇▇▇earch shall be required to pay to TXEN an amount equal to the decrease in tax (without interest) resulting from the adjustment.

  • This Section 9.6.8 shall only apply to the extent the aggregate amount of the tax benefit relating to such Temporary Difference exceeds $500,000.

  • To the extent Stockholder is required to pay the IRS or any state income tax authority an addition to tax for a period prior to Closing attributable to any Temporary Difference, Parent or Target Company will pay to Stockholder the federal and state income tax benefit realized (using an assumed combined federal and net state income tax rate of 40%) by any Target Company in any post Closing federal or state income tax return relating to any such Temporary Difference.

  • Upon the adjustment becoming final, or the amended return or refund claim being accepted, as applicable, (i) if the adjustment results in a Permanent Difference, no payment shall be made to Nich▇▇▇ ▇▇▇earch and (ii) if the adjustment results in a Temporary Difference, TXEN shall be required to pay to Nich▇▇▇ ▇▇▇earch an amount equal to the decrease in tax (without interest) resulting from the adjustment.

  • Likewise, to the extent Stockholder receives a refund from the IRS or any state income tax authority attributable to a period prior to Closing attributable to any Temporary Difference, Stockholder will pay to Target Company or Parent the federal and state income tax benefit foregone (using an assumed combined federal and net state income tax rate of 40%) by any Target Company in any post Closing federal or state income tax return relating to any such Temporary Difference.

  • Upon the adjustment becoming final (within the meaning of Section 5(d)), if the adjustment results in a Temporary Difference, TXEN shall be required to pay to Nich▇▇▇ ▇▇▇earch the additional tax (without interest) which Nich▇▇▇ ▇▇▇earch is required to pay as a result of the adjustment.


More Definitions of Temporary Difference

Temporary Difference means any IRS or state taxing authority adjustment in an amount in excess of $500,000 in the aggregate to a Target Company federal or state income tax return attributable to a period prior to Closing (other than an adjustment with respect to the reorganization pursuant to which the Merger Consideration is issued as described in Rev. Proc. 84-42, 1984-1 C.B. 521) which (i) increases or decreases the basis of any Target Company asset or liability for federal or state income tax purposes or (ii) gives rise to an accounting method change which creates an adjustment under Section 481(a) of the Code, and the effect of any such adjustment is to either increase or decrease taxable income of a Target Company in any state or federal income tax return for a period ending after Closing.
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Related to Temporary Difference

  • Temporary Disconnection means an ICP is De-energised but there is no change to the status of the ICP in the Registry;

  • Temporary disability means wage loss replacement for the primary job;

  • Temporary Position means a position that the Employer has determined will be in excess of thirty (30) calendar days and not more than two (2) years, but which is not a Regular Position. Temporary Positions are intended for staffing of short term projects and interim staffing relief during periods such as the absences of employees or for unexpected and temporary changes in workload. A Temporary Position may be either a new position for the designated period or a temporary vacancy of a Regular Position or of a previously vacated Temporary Position.

  • Temporary service means an electrical service granted temporarily for such purposes as construction, real estate sales, trailers, et cetera;

  • temporary post means a post other than a permanent post.