Possessory Interest Tax definition

Possessory Interest Tax means the tax on non-exempt interest in real or personal property used in association with a business venture (See Ordinance No. 26).
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Possessory Interest Tax means a tax levied, assessed or imposed at any time by any taxing authority upon or against a private property interest in government-owned property or the right to the occupancy and use of any benefit in government-owned property that has been granted under a lease, permit, license, concession, contract, or other agreement. During the Term and any Extended Term, Tenant shall be responsible for the payment of any and all Possessory Interest Taxes levied or assessed against Tenant or for Tenant’s use and occupancy of the Premises then coming due for the tax year (12-month period) established by the applicable taxing authority (the “Tax Payment”).
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Possessory Interest Tax means any tax, assessment, charge, levy, or fee assessed on a “possessory interest” under California law (including, without limitation, any tax, assessment, charge, levy, or fee arising from California Revenue Code section 107 and the regulations promulgated pursuant thereto, and any similar or successor statutes or regulations, whereby a private party granted the exclusive use of real property owned by a non-taxable entity is required to pay a tax on such right of possession to the County Assessor, California Board of Equalization or another governmental agency).
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Examples of Possessory Interest Tax in a sentence

  • Pursuant to Section 105 of UTAS, the ONTC, on behalf of the Navajo Nation, issued an assessment to APS on [Date] seeking to assess the Possessory Interest Tax (“PIT”) on APS in connection with its ownership and operation of the Four Corners Power Plant (the “Plant”), switchyards, and transmission and distribution facilities within the Navajo Nation (hereinafter, the Plant, switchyards, and transmission and distribution facilities within the Navajo Nation are collectively referred to as the “Facilities”).

  • Pursuant to Section 105 of UTAS, the ONTC, on behalf of the Navajo Nation, issued an assessment to APS on [Date] seeking to assess the Possessory Interest Tax ("PIT") on APS in connection with its ownership and operation of the Four Comers Power Plant (the "Plant"), switchyards, and transmission and distribution facilities within the Navajo Nation (hereinafter, the Plant, switchyards, and transmission and distribution facilities within the Navajo Nation are collectively referred to as the "Facilities").

  • Lessee's rent shall be reduced by the amount of any such Possessory Interest Tax in the month following actual payment by Lessee of such tax or if no rent due in cash, and upon submittal of a copy of the xxxx evidencing such obligation and a copy of the check evidencing such payment.

  • Pursuant to Section 105 of UTAS, the ONTC, on behalf of the Navajo Nation, issued an assessment to APS on [Date] seeking to assess the Possessory Interest Tax ("PIT") on APS in connection with its ownership and operation of the Four Corners Power Plant (the "Plant"), switchyards, and transmission and distribution facilities within the Navajo Nation (hereinafter, the Plant, switchyards, and transmission and distribution facilities within the Navajo Nation are collectively referred to as the "Facilities").

  • As of December 31, 2001, the Revenue and Taxation Department of the Jicarilla Apache Nation (the "Nation") issued to the Company Possessory Interest Tax assessments for 1998, 1999, 2000 and 2001 totaling $3.3 million, as adjusted, including related penalties and interest.

  • To date, all Possessory Interest Tax that has been assessed and billed have been paid.

  • Lessee shall be responsible for any Possessory Interest Tax arising out of or in any way created by this Lease.

  • The taxes imposed pursuant to District of Columbia Code § 47-1005.01, which is commonly referred to as the District of Columbia Possessory Interest Tax, real estate taxes and any personal property taxes for the year in which the Closing occurs will be prorated between Seller and Purchaser as of the Apportionment Time on the basis of actual bills therefor, if available.

  • Based on the plain wording contained in Tribal Ordinances in effect at that time, Xxxxxx considered the Amine Plant to be “production equipment”, and calculated and paid the resulting Possessory Interest Tax to the Nation.

  • The Company paid the assessments, but filed protests with the Nation taking the position that, among other things, certain rules and regulations promulgated in December 2000 by the Nation do not apply to the determination of Possessory Interest Tax for years prior to 2001.

Related to Possessory Interest Tax

  • Contract Charges means charges that accrue during a given month as defined in Article III. “Contract Term” is defined in Article IV.

  • Track Charges means the charges payable by or on behalf of the Train Operator to Network Rail, as set out in paragraph 1 of Part 2 of Schedule 7 or under the Traction Electricity Rules;

  • Volumetric Production Payments means production payment obligations recorded as deferred revenue in accordance with GAAP, together with all undertakings and obligations in connection therewith.

  • Mandatory income interest means the right of an income beneficiary to receive net income that the terms of the trust require the fiduciary to distribute.

  • MUNICIPAL TAXABLE INCOME means the following:

  • Off-vehicle charging hybrid electric vehicle (OVC-HEV) means a hybrid electric vehicle that can be charged from an external source.

  • Income interest means the right of an income beneficiary to receive all or part of net income, whether the terms of the trust require it to be distributed or authorize it to be distributed in the trustee's discretion.

  • Asset Taxes means all ad valorem, property, excise, severance, production or similar Taxes (including any interest, fine, penalty or addition to Tax imposed by a taxing authority in connection with such Taxes) based upon operation or ownership of the Assets or the production of Hydrocarbons therefrom but excluding, for the avoidance of doubt, (a) income, capital gains, franchise and similar Taxes and (b) Transfer Taxes.

  • Production Payments means, collectively, Dollar-Denominated Production Payments and Volumetric Production Payments.

  • SLDC Charges means the charges levied by the SLDC of the state wherein the Solar Power Project is located;

  • Management Charge means the sum paid by the Supplier to the Authority being an amount of half (0.5) percent of all Charges for the Services invoiced to the Contracting Bodies (net of VAT) in each Month throughout the Term and thereafter until the expiry or earlier termination of any Call-Off Contract;

  • 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.

  • CCAA Charges means the Administration Charge and the Directors’ Charge;

  • Assigned Annual Special Tax means the Special Tax of that name described in Section D.

  • Account Charge means, in relation to each of the Charged Accounts, the first priority fixed charge or pledge over all such accounts given or to be given by the relevant account holder thereof in favor of and in form and substance satisfactory to the Security Trustee.

  • Intercompany Interest means an Interest in a Debtor held by another Debtor.

  • Not off-vehicle charging hybrid electric vehicle (NOVC-HEV) means a hybrid electric vehicle that cannot be charged from an external source.

  • Assessment lien means a lien on property within an assessment area that arises

  • Asset Interest is defined in Section 2.1(b).

  • Periodic Interest means, with respect to any Payment Date, the periodic interest for such Payment Date as specified in the Series Supplement.

  • Derivative Interest means any derivative securities (as defined under Rule 16a-1 under the Exchange Act) that increase in value as the value of the underlying equity increases, including, but not limited to, a long convertible security, a long call option and a short put option position, in each case, regardless of whether (x) such interest conveys any voting rights in such security, (y) such interest is required to be, or is capable of being, settled through delivery of such security or (z) transactions hedge the economic effect of such interest.

  • State premium tax liability means any liability

  • Compounded Interest shall have the meaning set forth in Section 4.1.

  • Gross receipts tax means any gross receipts, sales, use, excise, value added or any similar tax.

  • Trust Interest means an account owner's interest in the trust created by a participating trust