Tax computation definition

Tax computation means the working sheets, statements, schedules, calculations and other supporting documents forming the basis upon which an income tax return is made that are required to be submitted together with the return or maintained by the person making the return.
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Tax computation means the computation of the adjusted income, statutory income, aggregate income, and / or total income in accordance with the requirements of Chapters 4, 5 and 6 of the Act and, where the context so permits or requires, includes the working sheets, statements, schedules, calculations and other supporting documents forming the basis upon which an income tax return is made.
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Tax computation means the computation of the adjusted income, statutory income, aggregate income, and/or total income in accordance with the requirements of Chapters 4, 5 and 6 of the Act and, where the context so permits or requires,
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Examples of Tax computation in a sentence

  • To ensure maintenance of proper records so that filling of periodical returns, Advance Tax computation and statutory dues payment.

  • See para- graph (a) of § 301.7507–3 and paragraph (a) of § 301.7507–9.(b) Tax computation.

  • Tax computation worksheet 4If your NYAGI is more than $2,155,350, then you must compute your tax using this worksheet.1. Enter your NYAGI from page 7, Estimated taxworksheet, line 1 ....................................................

  • Tax computation worksheet 3If your NYAGI is more than $323,200, but not more than$2,155,350, and your taxable income is more than $323,200, then you must compute your tax using this worksheet.1. Enter your NYAGI from page 7, Estimated taxworksheet, line 1 ...................................................

  • Tax computation worksheet 2If your NYAGI is more than $161,550, but not more than$2,155,350, and your taxable income is more than $161,550 but not more than $323,200, then you must compute your tax using this worksheet.1. Enter your NYAGI from page 7, Estimated taxworksheet, line 1 ....................................................

  • On the disposal of the remaining land, only the balance of the base cost is available to be deducted in the Capital Gains Tax computation.

  • Tax computation is to be on new items after deduction of any trade-in, in accordance with WAC 458-20-247.

  • Point to considerYou may also consider using the CG34 procedure (post transaction valuation check) to agree the valuation prior to submitting the return.For further guidance see CG16600+.If you use the CG34 procedure ensure you enclose a Capital Gains Tax computation for the Self Assessment year, clearly state which reliefs are being claimed or are due, and provide an explanation of how the value was arrived at.

  • Where an individual disposes of shares on which any relief given is not or has not been withdrawn the sums normally allowable as a deduction in the Capital Gains Tax computation are not restricted where the consideration for the disposal exceeds or equals those sums.

  • Tax computation shall be subject to investment declaration submitted by you3.


More Definitions of Tax computation

Tax computation means the appendices, working sheets, and other supporting documents forming the basis upon which an income tax return is made.
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Tax computation has the meaning given to it in paragraph 1.3(a) of Schedule 10 (Transaction Tax Claims);
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Related to Tax computation

  • Computation Date is defined in Section 2.04.

  • United States Tax Compliance Certificate has the meaning specified in Section 3.01.

  • Net Taxable Income has the meaning set forth in Section 4.01(b)(i).

  • U.S. Tax Compliance Certificate has the meaning specified in Section 3.01(e)(ii)(B)(III).

  • State Income Tax means any Tax imposed by any State of the United States (or by any political subdivision of any such State) or the District of Columbia, or any city or municipality located therein, which is imposed on or measured by net income, including state and local franchise or similar Taxes measured by net income, and any interest, penalties, additions to tax, or additional amounts in respect of the foregoing.

  • Taxable income means, in the case of an individual, federal adjusted gross income determined without regard to 26 U.S.C. § 168(k) and:

  • MUNICIPAL TAXABLE INCOME means the following:

  • Computation Period means each period of four consecutive Fiscal Quarters ending on the last day of a Fiscal Quarter.

  • Tax Compliance Certificate as defined in Section 5.9.2(b)(iii).

  • Adjusted Net Earnings from Operations means, with respect to any fiscal period of Foamex, the net income of Foamex and its Subsidiaries after provision for income taxes for such fiscal period, as determined in accordance with GAAP on a consolidated basis (excluding the Joint Ventures and the China Joint Venture) and reported on the Financial Statements for such period, excluding any and all of the following included in such net income: (a) gain or loss arising from the sale of any capital assets; (b) gain (or loss) arising from any write-up (or write-down) in the book value of any asset; (c) earnings of any Person, substantially all the assets of which have been acquired by Foamex or any of its Subsidiaries in any manner, to the extent realized by such other Person prior to the date of acquisition; (d) earnings of any Person (other than Foamex Canada and the Mexican Subsidiaries and their respective Subsidiaries) in which Foamex or any of its Subsidiaries has an ownership interest unless (and only to the extent) such earnings shall actually have been received by Foamex or any of its Domestic Subsidiaries in the form of cash distributions; (e) earnings of any Person to which assets of Foamex or any of its Subsidiaries shall have been sold, transferred or disposed of, or into which Foamex or any of its Subsidiaries shall have been merged, or which has been a party with Foamex or any of its Subsidiaries to any consolidation or other form of reorganization, prior to the date of such transaction; (f) gain or loss arising from the acquisition of debt or equity securities of Foamex or any of its Subsidiaries or from cancellation or forgiveness of Debt; and (g) gain or loss arising from extraordinary items, as determined in accordance with GAAP.

  • Adjusted Net Earnings means net earnings (loss) attributable to common stockholders as reported in the Company’s periodic reports filed with the Securities and Exchange Commission, provided that such amount shall be adjusted by reversing the following, to the extent such adjustments were made in calculating such net earnings (loss) attributable to common stockholders:

  • Consolidated federal taxable income means the consolidated taxable income of an affiliated group of corporations, as computed for the purposes of filing a consolidated federal income tax return, before consideration of net operating losses or special deductions. "Consolidated federal taxable income" does not include income or loss of an incumbent local exchange carrier that is excluded from the affiliated group under division (A)(1) of this section.

  • Pre-Tax Earnings means the Corporation's earnings before income taxes as reported in the Company's Consolidated Income Statement for each fiscal year of the Performance Period, excluding any non-cash charge incurred in accordance with accounting principles generally accepted in the United States of America (GAAP) for any restricted stock or restricted stock unit awards granted during the Performance Period and all options, restricted stock and other equity compensation granted to Directors during the Performance Period.

  • Computation Day and "Record Date" shall mean 10, 10, 10, and 10.

  • Hypothetical Tax Liability means, with respect to any Taxable Year, the liability for Taxes of the Corporation (or the Partnerships, but only with respect to Taxes imposed on the Partnerships and allocable to the Corporation) using the same methods, elections, conventions and similar practices used on the relevant Corporation Return but using the Non-Stepped Up Tax Basis instead of the tax basis reflecting the Basis Adjustments of the Adjusted Assets and excluding any deduction attributable to Imputed Interest.

  • Taxable Period means any taxable year or other period that is treated as a taxable year with respect to which any Tax may be imposed under any applicable statute, rule or regulation.

  • Pre-Tax Income means income, as determined by GAAP, prior to deduction of the Bonus Pool (as hereinafter defined) and income taxes, and if applicable, after the deduction of any bonus pool of a future officer bonus plan adopted by the Company relating to an applicable Award Year and adjustments approved by the Board as described herein.

  • Basis Adjustment means the adjustment to the tax basis of an Original Asset under Sections 743(b) and 754 of the Code and comparable sections of state and local tax laws (as calculated under Section 2.01 of this Agreement) as a result of an Exchange and the payments made pursuant to this Agreement.

  • 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.

  • Taxable Allocation means, with respect to any Series, the allocation of any net capital gains or other income taxable for federal income tax purposes to a dividend paid in respect of such Series.

  • Eligibility Computation Period means a 12-consecutive month period beginning with your first day of employment. Any succeeding Eligibility Computation Period will then switch to the Plan Year, beginning with the Plan Year that includes your first anniversary of employment. You will generally earn an hour of service for each hour you are paid for the performance of duties for the Company (however, numerous exceptions and special rules apply).

  • Tax Revenue means, with respect to the Project Area, (a) those tax revenues referred to (1) in the last sentence of the first paragraph of Article VIII, Section 12 of the Constitution of the State and (2) in Section 18-2147, Reissue Revised Statutes of Nebraska, as amended, and (b) all payments made in lieu thereof.

  • Non-Income Tax means any Tax other than an Income Tax.

  • Tax Asset means any loss, net operating loss, net capital loss, investment tax credit, foreign tax credit, charitable deduction, or any other credit or Tax attribute that could be carried forward or carried back to reduce Taxes.

  • Adjusted Net Income ’ means net income adjusted for non-cash expenses (income) such as amortization of intangible assets, deferred income taxes, the TSS membership liability revaluation charge, and certain other expenses (income), and excludes the portion of the adjusted net income of Total Specific Solutions (TSS) B.V. (“TSS”) attributable to the minority owners of TSS (see “Capital Resources and Commitments” section). The Company believes that Adjusted net income is useful supplemental information as it provides an indication of the results generated by the Company’s main business activities prior to taking into consideration amortization of intangible assets, deferred income taxes, the TSS membership liability revaluation charge, and certain other non- cash expenses (income) incurred or recognized by the Company from time to time, and adjusts for the portion of TSS’ Adjusted net income not attributable to shareholders of Constellation. ‘‘Adjusted net income margin’’ refers to the percentage that Adjusted net income for any period represents as a portion of total revenue for that period.

  • Effective State average tax rate means the average of effective county tax rates for all counties.