Examples of Separate Return Tax Liability in a sentence
For each taxable year of the Group with respect to which a Consolidated Return is filed, the Members of the Group shall make payments to LSI Logic in the following manner: 3.1 Payments of Separate Return Tax Liability.
Federal Consolidated Ordinary Tax shall be allocated among the Members in accordance with the ratio by which the federal Ordinary Taxable Income of each Member, if any, bears to the sum of the federal Ordinary Taxable Incomes of all of the Members joining in the filing of the Consolidated Federal Return; provided no Member shall be liable for federal Consolidated Ordinary Tax in excess of its federal Separate Return Tax Liability.
Except as otherwise provided herein, Consolidated Federal Tax shall be allocated among the Members in such a manner that each Member, except for Southern, shall be allocated an amount of Consolidated Federal Tax approximately equal to such Member’s federal Separate Return Tax Liability.
Federal Consolidated Net Long-Term Capital Gain Tax shall be allocated among the Members in accordance with the ratio by which the federal Net Long-Term Capital Gain of each Member bears to the total federal Consolidated Net Long-Term Capital Gain of all of the Members joining in the Consolidated Federal Return; provided no Member, except for Southern, shall be liable for federal Consolidated Net Long-Term Capital Gain Tax in excess of its federal Separate Return Tax Liability.
The Separate Return Tax Liability of SSI shall include all Taxes relating to, arising out of or resulting from the conduct of the SSI Business for any Tax period or portion of a period, whether before or after Separation, Deconsolidation or the Distribution.