Applicable Tax Percentage means the highest effective marginal combined rate of Federal, state, and local income taxes (taking into account the deductibility of state and local taxes for Federal income tax purposes) to which any Person holding Equity Interests of a Credit Party would be subject in the relevant year of determination, taking into account only such Person’s share of income and deductions attributable to its equity ownership interest in such Credit Party.
Applicable Tax Percentage means the highest aggregate effective marginal rate of federal, state and local income tax or, when applicable, alternative minimum tax, to which any direct or indirect member or S corporation shareholder of the Borrowers subject to the highest marginal rate of tax would be subject in the relevant year of determination (as certified to the Administrative Agent by a certificate from an Authorized Officer), taking into account only that member's or S corporation shareholder's share of income and deductions attributable to its interest in the Borrowers in the relevant year of determination.
Applicable Tax Percentage means the highest effective marginal combined U.S. federal, state and local income tax rate for a fiscal year prescribed for an individual resident in New York, New York (taking into account (a) the deductibility of state and local income taxes for U.S. federal income tax purposes, assuming the limitation described in Section 68(a)(2) of the Code applies, (b) the nondeductiblity of other expenses subject to the limitation described in Section 67(a) of the Code applies and (c) the character (e.g., long-term or short-term capital gain or ordinary or exempt income) of the applicable income). For the avoidance of doubt, the Applicable Tax Percentage will be the same for all Partners.
Examples of Applicable Tax Percentage in a sentence
Attachment G Proposer’s W-9.Attachment H E-Verification Certification Form.
The Tax Distributions with respect to any taxable year shall be computed based upon the General Partner’s estimate of the Net Taxable Income, multiplied by the Applicable Tax Percentage (the “Tax Amount”) and shall be paid only to the extent previous distributions pursuant to Section 7.1 with respect to such taxable year are insufficient to cover the Tax Amount for such taxable year.
On or before March 31, 2005, the Company shall make a payment to each Stockholder equal to the excess of (i) the product of (x) the Applicable Tax Percentage and (y) the net income of the Company as determined by reference to the Company’s Internal Revenue Service Form 1120S the Short S Taxable Year, over (ii) any prior distributions made to such Stockholder by the Company with respect to such net income.
More Definitions of Applicable Tax Percentage
Applicable Tax Percentage means the highest effective marginal combined rate of federal, state and local income taxes (taking into account the deductibility of state and local taxes for federal income tax purposes) to which any Person holding voting Equity Interests of any Borrowers would be subject in the relevant year of determination, taking into account only such Person’s share of income and deductions attributable to its equity ownership interest in such Borrowers.
Applicable Tax Percentage means the greater of (i) the highest effective marginal combined rate of federal, state, and local income taxes for an individual, and (ii) the highest effective marginal combined rate of federal, state and local income taxes applicable to a corporation.
Applicable Tax Percentage means 22% with respect to any person identified as a “Founder” on Exhibit A hereto, and 45% with respect to any holder of SiteScout Registrable Securities that is listed on Exhibit A hereto and not so identified as a “Founder.”
Applicable Tax Percentage means the highest aggregate effective marginal rate of federal, state and local income taxes to which any stockholder of a Person that qualifies as an "S" corporation within the meaning of Section 1361 of the Code would be subject in the relevant year of determination, taking into account only such stockholder's share of income and deductions attributable to its interest in such Person.
Applicable Tax Percentage means the highest effective marginal combined rate of Federal, state, and local income taxes (taking into account the deductibility of state and local taxes for Federal income tax purposes) to which the Person holding the greatest number of shares of each Borrower’s Voting Equity Interests would be subject in the relevant year of determination, taking into account only such Person’s share of income and deductions attributable to its equity ownership interest in such Borrower.
Applicable Tax Percentage means, as of the applicable date or time period, the percentage equal to the sum of the highest percentage Federal income tax rate then in effect applicable to REIT (provided that Borrower has first provided to Agent evidence satisfactory to Agent of such rate). Notwithstanding the foregoing, in the event that the IPO Conditions Satisfaction Date shall have occurred, the provisions of this §8.7(a) limiting Distributions based on Taxable Net Income shall no longer be applicable; provided that Borrower shall remain obligated to report and demonstrate compliance with this §8.7(a) as provided herein but only for any period for which this §8.7(a) is applicable.
Applicable Tax Percentage means the highest effective marginal combined rate of federal, state and local income taxes (taking into account the deductibility of state and local taxes for federal income tax purposes) that an individual residing in New York, New York would be subject in the relevant year of determination, taking into account only such shareholder's share of income and deductions attributable to its equity ownership interest in the Company.