Tax-Exempt definition

Tax-Exempt means with respect to interest on any obligations of a state or local government, including the Bonds, that such interest is excluded from gross income for federal income tax purposes; provided, however, that such interest may be includable as an item of tax preference or otherwise includable directly or indirectly for purposes of calculating other tax liabilities, including any alternative minimum tax or environmental tax, under the Code.

Tax-Exempt means, with respect to interest on any obligations of a state or local government, including the Bonds, that such interest is excluded from the gross income of the holders thereof (other than any holder who is a “substantial user” of facilities financed with such obligations or a “related person” within the meaning of Section 147(a) of the Code) for federal income tax purposes, whether or not such interest is includable as an item of tax preference or otherwise includable directly or indirectly for purposes of calculating other tax liabilities, including any alternative minimum tax or environmental tax under the Code.

Tax-Exempt means, with reference to the Bonds, the status of interest paid and received thereon as excludable from the gross income of the owners thereof for federal income tax purposes except to the extent that such interest is taken into account in computing an adjustment used in determining the federal alternative minimum tax for certain corporations.

Examples of Tax-Exempt in a sentence

• For private activity bonds, use Form 8038, Information Return for Tax-Exempt Private Activity Bond Issues.

• By: Name: Title: Lessee: Ouray County By: Name: Xxxxxxxx Xxxxx Title: BOCC, Chair Attest: By Name: Xxxxxx Xxxxxxxx Title: Deputy Clerk of the Board Property Schedule No. 1 Master Tax-Exempt Lease/Purchase Agreement This Property Schedule No. 1 is entered into as of the Commencement Date set forth below, pursuant to that certain Master Tax-Exempt Lease/Purchase Agreement (the “Master Agreement”), dated as of April 30, 2024, between U.S. Bancorp Government Leasing and Finance, Inc., and Ouray County.

• By: Name: Title: Lessee: Ouray County By: Name: Xxxxxxxx Xxxxx Title: BOCC, Chair Attest: By Name: Xxxxxx Xxxxxxxx Title: Deputy Clerk of the Board ADDENDUM (COLORADO) No. 2 Master Tax-Exempt Lease/Purchase Agreement THIS ADDENDUM, which is entered into as of April 30, 2024 between U.S. Bancorp Government Leasing and Finance, Inc.

• By: Name: Title: Lessee: Ouray County By: Name: Xxxxxxxx Xxxxx Title: BOCC, Chair Attest: By Name: Xxxxxx Xxxxxxxx Title: Deputy Clerk of the Board EXHIBIT 1 Property Description and Payment Schedule Re: Property Schedule No. 1 to Master Tax-Exempt Lease/Purchase Agreement between U.S. Bancorp Government Leasing and Finance, Inc.

• Ouray County By Signature of Person to Execute Lease/Purchase Agreement Xxxxxxxx Xxxxx, Chair, BOCC Print Name and Title of Person to Execute Lease/Purchase Agreement INCUMBENCY CERTIFICATE Re: Property Schedule No. 1 dated as of April 30, 2024 to the Master Tax-Exempt Lease/Purchase Agreement dated as of April 30, 2024 between U.S. Bancorp Government Leasing and Finance, Inc.

More Definitions of Tax-Exempt

Tax-Exempt means, with respect to interest on any obligations of a state or local government, that such interest is excluded from the gross income of the owners thereof for federal income tax purposes, whether or not such interest is includable as an item of tax preference or otherwise includable directly or indirectly for purposes of calculating other tax liabilities, including any alternative minimum tax or environmental tax under the Code.

Tax-Exempt means that interest on the Bonds is excluded from gross income for federal income tax purposes, whether or not such interest is includable as an item of tax preference or otherwise includable directly or indirectly for purposes of calculating any other tax liability, including any alternative minimum tax or environmental tax.

Tax-Exempt means, with respect to interest on any obligations of a state or local government, including the Bonds, that such interest is not includible in gross income of the owners of such obligations for federal income tax purposes, except for interest on any such obligations for any period during which such obligations are owned by a person who is a "substantial user" of any facilities financed or refinanced with such obligations or a "related person" within the meaning of Section 103(b)(13) of the 1954 Code, whether or not such interest is includible as an item of tax preference or otherwise includible directly or indirectly for purposes of calculating other tax liabilities, including any alternative minimum tax or environmental tax under the Code.

Tax-Exempt means, with respect to interest on any obligations of a state or local government, including the Bond, that such interest is excluded from gross income for federal income tax purposes (other than interest on the Bond for any period during which the Bond is held by a “substantial user” of any facility financed with the proceeds of the Bond or a “related person,” as such terms are used in Section 147(a) of the Code); provided, however, that such interest may be includable as an item of tax preference or otherwise includable directly or indirectly for purposes of calculating other tax liabilities, including any alternative minimum tax or environmental tax, under the Code.

Tax-Exempt means with respect to interest on any obligations of a state or local government, including the Notes, that such interest is excluded from gross income for federal income tax purposes; provided, however, that such interest may be includable as an item of tax preference or otherwise includable directly or indirectly for purposes of calculating other tax liabilities, including any alternative minimum tax or environmental tax, under the Code.

Tax-Exempt means, with respect to the Bonds, the status of interest paid and received thereon as excludable from gross income of the owners thereof for federal income tax purposes and as not included as an item of tax preference in computing the alternative minimum tax for individuals and corporations under the Code, but as taken into account in computing an adjustment used in determining the federal alternative minimum tax for certain corporations.

Tax-Exempt means, with respect to the Bonds, the status of interest paid and received thereon as not includible in the gross income of the owners thereof under the Code for federal income tax purposes except to the extent that such interest is taken into account in computing an adjustment used in determining the alternative minimum tax for certain corporations and in computing the “branch profits tax” imposed on certain foreign corporations.