Additional Tax Liability definition

Additional Tax Liability shall have the meaning set forth in Section 6.08(d).
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Additional Tax Liability means in any tax year in which a final tax adjustment is made by the Internal Revenue Service with respect to your purchase of Executive Stock under the Stock Agreement, all additional taxes, interest and penalties applicable to any such final tax adjustment. The undersigned's obligation to purchase such shares of Executive Stock hereunder is conditioned upon your providing the undersigned with documentation that is reasonably satisfactory to the Company evidencing the final determination of such Additional Tax Liability. It is the intent of this agreement to provide you with liquidity for a portion of your Executive Stock so as allow you to pay on a timely basis any Additional Tax Liability. This agreement shall at all times be interpreted consistently with such intent. Very truly yours, RANGER AEROSPACE CORPORATION __________________________________ By: Its: Agreed and acknowledged as of date first written above: _______________________ Xxxxxx Xxxxx
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Additional Tax Liability shall have the meaning contained in Section 2.3 of this Agreement.
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Examples of Additional Tax Liability in a sentence

  • An IRS Audit Could Result in Adjustments to the Company’s Allocations of Income, Gain, Loss and Deduction Causing Additional Tax Liability to Our Members.

  • The Buyer agrees that the Insurer shall have the right to conduct the Tax Proceedings even if the policy limit payable or the amount paid, if any, by the Insurer in respect of the particular Buyer’s Adverse Notice of Reassessment is less than the full amount of the Buyer’s Actual Additional Tax Liability.

  • Implementation Assistance and Training – The Offeror shall explain in detail the approach that will be taken to assist in the issuance and implementation of Payment Cards.

  • Except as described on Schedule 2.12, the Company has no subsidiaries and does not, directly or indirectly, own any interest in any corporation, partnership, firm or other business entity.

  • An example of the calculation of the Additional Tax Liability is attached as Schedule 2.3. The Earnout shall be determined as follows.

  • Revenue Expenditures County Contribution Department YTD Actual YTD YTD Actual YTD YTD Actual YTD EcDev Board $0 $B0udget $3,969 $B3u6d,g4e9t8 $3,969 $B3u6d,g4e9t8 Economic Development $135,238 $179,922 $540,636 $761,604 $405,398 $581,682 RECOMMENDED MOTION: THAT: The financial statements for the month ending June 30, 2020 be received.

  • Wood County was established in 1856 and is named after Joseph Wood, a state legislator and judge.

  • Buyer shall review the calculation of such Additional Tax Liability within thirty (30) days after receipt thereof and notify Sellers of any discrepancy.

  • Note that when Table 5 says “Average Additional Tax Liability Incurred for Farms Impacted,” the “additional” amount is in comparison to a scenario in which no taxes are owed for 2021.

  • Table 3.−Reconciliation Limit on Additional Tax Liability (for 2020)1 Household income (expressed as a percent of FPL) Applicable Dollar AmountLess than 200%1 Rev.


More Definitions of Additional Tax Liability

Additional Tax Liability means the additional liability for all income taxes, federal, state and local, which may be due from or assessed to the Sellers solely as a result of the election to be made under Section 338(h)(10) of the Code as provided in Section VI.H below. C. "Affiliate" has the meaning set forth in Rule 12b-2 of the regulations promulgated under the Securities Exchange Act.
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Additional Tax Liability means in any tax year in which a final tax adjustment is made by the Internal Revenue Service with respect to your purchase of Executive Stock under the Stock Agreement, all additional taxes, interest and penalties applicable to any such final tax adjustment. The undersigned's obligation to purchase such shares of Executive Stock hereunder is conditioned upon your providing the undersigned with documentation that is reasonably satisfactory to the Company evidencing the final determination of such Additional Tax Liability. It is the intent of this agreement to provide you with liquidity for a portion of your Executive Stock so as allow you to pay on a timely basis any Additional Tax Liability. This agreement shall at all times be interpreted consistently with such intent. Very truly yours, RANGER AEROSPACE CORPORATION By: __________________________________ Stephen D. Townes, Xxxxxxxxx xxx XXO Agreed and acknowlexxxx as of date first written above: _______________________ George W. Watts
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Related to Additional Tax Liability

  • Actual Tax Liability means, with respect to any Taxable Year, the liability for Covered Taxes of the Corporation (a) appearing on Tax Returns of the Corporation for such Taxable Year and (b) if applicable, determined in accordance with a Determination (including interest imposed in respect thereof under applicable law).

  • Hypothetical Tax Liability means, with respect to any Taxable Year, the Hypothetical Federal Tax Liability for such Taxable Year, plus the Hypothetical Other Tax Liability for such Taxable Year.

  • Assumed Tax Liability means, with respect to any Member, an amount equal to the excess of (i) the product of (A) the Distribution Tax Rate multiplied by (B) the estimated or actual cumulative taxable income or gain of the Company, as determined for federal income tax purposes, allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, less prior losses of the Company allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, in each case, as determined by the Manager and to the extent such prior losses are available to reduce such income over (ii) the cumulative Tax Distributions made to such Member after the closing date of the IPO pursuant to Sections 4.01(b)(i), 4.01(b)(ii) and 4.01(b)(iii) and, if applicable with respect to such Fiscal Year, pursuant to Section 4.1(a) of the Previous LLC Agreement; provided that, in the case of the Corporation, such Assumed Tax Liability (x) shall be computed without regard to any increases to the tax basis of the Company’s property pursuant to Sections 734(b) or 743(b) of the Code and (y) to the extent permitted under the Credit Agreements and applicable Law, shall in no event be less than an amount that will enable the Corporation to meet both its tax obligations and its obligations pursuant to the Tax Receivable Agreement for the relevant Taxable Year; provided further that, in the case of each Member, and for the avoidance of doubt, such Assumed Tax Liability shall take into account any Code Section 704(c) allocations (including “reverse” 704(c) allocations) to the Member.

  • Additional Taxes means taxes, duties or other governmental charges imposed on the Trust as a result of a Tax Event (which, for the sake of clarity, does not include amounts required to be deducted or withheld by the Trust from payments made by the Trust to or for the benefit of the Holder of, or any Person that acquires a beneficial interest in, the Securities).

  • Additional Tax means in addition to Restaurant Tax. (C) “Additional Tax” means in addition to Commercial Lease. Review each City/Town for tax on Food for Home Consumption. (B) If you report under Hotel (Business code 044), this city has an Additional Hotel tax rate that must be applied and reported (Business Code 144). (D) Report amount due on materials purchased exempt from tax and incorporated into a Maintenance, Repair, Replacement or Alteration (MRRA) project. (E) When reporting for Short Term Motor Vehicle you must report Business Code 214 and 114 for this City.

  • 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 Liabilities means all liabilities for Taxes.

  • Income Tax Return means any Tax Return relating to Income Taxes.

  • Local taxes means all taxes levied other than taxes levied for school operating purposes.

  • Final Tax Amount has the meaning set forth in Section 4.01(b)(ii).

  • Income Tax Expense means, with respect to the Borrowers, for any period, the aggregate, without duplication, of all Taxes on the income of such Person for such period, whether current or deferred, determined on a Modified Consolidated Basis.

  • Combined Tax Return means a Tax Return filed in respect of U.S. federal, state, local or non-U.S. income Taxes for a Combined Group, or any other affiliated, consolidated, combined, unitary, fiscal unity or other group basis (including as permitted by Section 1501 of the Code) Tax Return of a Combined Group.

  • Income Taxes means any Tax which is based upon, measured by, or calculated with respect to (i) net income or profits (including, but not limited to, any capital gains, gross receipts, value added or minimum Tax) or (ii) multiple bases (including, but not limited to, corporate franchise, doing business or occupation Taxes) if one or more of the bases upon which such Tax may be based, by which it may be measured, or with respect to which it may be calculated is described in clause (i) of this sentence.

  • Tax Payments has the meaning set forth in the definition of Permitted Payments to Parent.

  • Total After-Tax Payments means the total of all “parachute payments” (as that term is defined in Section 280G(b)(2) of the Code) made to or for the benefit of the Executive (whether made hereunder or otherwise), after reduction for all applicable federal taxes (including, without limitation, the tax described in Section 4999 of the Code).

  • Income Tax Returns means all Tax Returns relating to Income Taxes.

  • Non-Income Tax Return means any Tax Return relating to any Tax other than an Income Tax.

  • Post-Distribution Tax Period means a Tax year beginning and ending after the Distribution Date.

  • Payroll Taxes means State Unemployment Insurance (SUI), Federal Unemployment Insurance (FUI), and payments pursuant to the Federal Insurance Contributions Act (FICA).

  • Distribution Taxes means any Taxes incurred solely as a result of the failure of the Intended Tax Treatment of the Restructuring, the Contribution or the Distribution.

  • Straddle Tax Period means a Tax period that begins on or before the Closing Date and ends thereafter.

  • Transaction Tax Deductions means any Tax deductions relating to (i) any pay down or satisfaction of Company Indebtedness or other Indebtedness, (ii) the payment or incurrence of any Transaction Expenses or Transaction Bonus Payments and (iii) any other deductible payments attributable to the Contemplated Transactions economically borne by the Seller. For this purpose, any success-based fees shall be treated as deductible in accordance with Rev. Proc. 2011-29.

  • Special Taxes means any and all present or future taxes, levies, imposts, deductions, charges or withholdings, or any liabilities with respect thereto, including those arising after the date hereof as result of the adoption of or any change in law, treaty, rule, regulation, guideline or determination of a Governmental Authority or any change in the interpretation or application thereof by a Governmental Authority but excluding, in the case of Lender, such taxes (including income taxes, franchise taxes and branch profit taxes) as are imposed on or measured by Lender’s net income by the United States of America or any Governmental Authority of the jurisdiction under the laws under which Lender is organized or maintains a lending office.