Current Tax definition

Current Tax means all taxes which are imposed during the tax year;
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Current Tax. Provision for current tax is made on the basis of estimated taxable income for the accounting year in accordance with the Income Tax Act, 1961.
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Current Tax means income tax expenses excluding any differed taxes. "EBITDA" means Earnings before Interest, Taxes, Depreciation and Amortisation.
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Examples of Current Tax in a sentence

  • Current Tax The tax currently payable is based on taxable earnings for the year.

  • Tax Assets (Liabilities) Deferred and Current Tax Assets (Liabilities) (1)____________________(1) Included in other assets or other liabilities on the condensed consolidated balance sheets.

  • Current Tax Current tax is based on estimated taxable income and tax rates which are determined pursuant to the tax laws that are enacted or substantively enacted at the balance sheet date.

  • Select all that apply: [ ] NEW CONTRIBUTIONS - Specify tax year: Current Tax Year | Amount ____________________________|$__________________________ Prior Tax Year | Amount ____________________________|$__________________________ [ ] DIRECT TRANSFER - Check Payable to Northwestern Mutual Life for the benefit of the contract owner.

  • The phrase "Current Tax Period" refers to the fiscal year of the applicable taxing authority in which the Close of Escrow occurs.

  • For SEP and SIMPLE IRAs, always enter the current calendar year as the "Current Tax Year" and the amount of the new contribution as the "Current Tax Year Amount".

  • Current Tax Current income tax assets and liabilities for the current and prior periods are measured at the amount expected to be recovered from or paid to the taxation authorities.

  • Tax Assets (Liabilities) Deferred and Current Tax Assets (Liabilities) (1) ____________________(1) Included in other assets or other liabilities on the condensed consolidated balance sheets.

  • We use Adjusted Taxable Income, Net of Current Tax Expense to measure and evaluate our operations.

  • Seller shall reimburse Buyer for Seller’s portion of the Current Tax Period at Closing or in connection with any post-closing settlement provided for herein.


More Definitions of Current Tax

Current Tax means federal income tax for purposes of the Internal Revenue Code (Title 26 of the United States Code) and the corresponding Treasury Regulations (Title 26 of the Code of Federal Regulations).
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Current Tax shall, for any Taxable Period, mean the amount of each Group member’s Current Allocation if the Current Allocation is a positive amount.
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Current Tax means the amount of income taxes payable (recoverable) in respect of the taxable amount (or recoverable from a tax loss) for a reporting period
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Current Tax shall include all Corporation Tax balances.
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Current Tax means the amount of Tax determined to be payable in respect of the Relevant Period
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Related to Current Tax

  • input tax , in relation to a vendor, means—

  • 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.

  • Relevant Tax means any present or future taxes, duties, assessments or governmental charges of whatever nature, imposed or levied by or on behalf of any Relevant Jurisdiction or any authority therein or thereof having the power to tax.

  • Income Taxes means any taxes measured, in whole or in part, by net or gross income or profits together with any interest, penalties or additions to tax.

  • Income Tax means any federal, state, local or foreign Tax (a) based upon, measured by or calculated with respect to net income, profits or receipts (including, without limitation, capital gains Taxes and minimum Taxes) or (b) based upon, measured by or calculated with respect to multiple bases (including, without limitation, corporate franchise taxes) if one or more of the bases on which such Tax may be based, measured by or calculated with respect to, is described in clause (a), in each case together with any interest, penalties, or additions to such Tax.

  • Tax or Taxes means any federal, foreign, state, county or local taxes, charges, fees, levies, duties or other assessments, including, but not limited to, all net income, gross income, sales and use, transfer, gains, profits, excise, franchise, real and personal property, gross receipts, capital stock, production, business and occupation, customs, disability, employment, payroll, license, estimated, severance or withholding taxes or charges imposed by any Governmental Authority, and includes any interest and penalties (civil or criminal) on or additions to any such taxes.

  • Taxes means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.

  • 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.

  • Income Tax Expense means for Borrower and its Subsidiaries, on a consolidated basis for any period, all state and federal franchise or income taxes paid or due to be paid during such period.

  • Unpaid estimated income tax means estimated income tax due but not paid by the date the tax is required to be paid under applicable law.

  • Assumed Tax Liability means, with respect to any Member, an amount equal to the excess of (i) the product of (A) the Distribution Tax Rate multiplied by (B) the estimated or actual cumulative taxable income or gain of the Company, as determined for federal income tax purposes, allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, less prior losses of the Company allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, in each case, as determined by the Manager and to the extent such prior losses are available to reduce such income over (ii) the cumulative Tax Distributions made to such Member after the closing date of the IPO pursuant to Sections 4.01(b)(i), 4.01(b)(ii) and 4.01(b)(iii) and, if applicable with respect to such Fiscal Year, pursuant to Section 4.1(a) of the Previous LLC Agreement; provided that, in the case of the Corporation, such Assumed Tax Liability (x) shall be computed without regard to any increases to the tax basis of the Company’s property pursuant to Sections 734(b) or 743(b) of the Code and (y) to the extent permitted under the Credit Agreements and applicable Law, shall in no event be less than an amount that will enable the Corporation to meet both its tax obligations and its obligations pursuant to the Tax Receivable Agreement for the relevant Taxable Year; provided further that, in the case of each Member, and for the avoidance of doubt, such Assumed Tax Liability shall take into account any Code Section 704(c) allocations (including “reverse” 704(c) allocations) to the Member.

  • Net Tax Benefit has the meaning set forth in Section 3.1(b) of this Agreement.

  • Connection Income Taxes means Other Connection Taxes that are imposed on or measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes.

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

  • Tax or “Taxes” means any federal, state, local or foreign income, gross receipts, property, sales, use, license, excise, franchise, employment, payroll, withholding, alternative or add on minimum, ad valorem, transfer or excise tax, or any other tax, custom, duty, governmental fee or other like assessment or charge of any kind whatsoever, together with any interest or penalty, imposed by any Governmental Entity.

  • Actual Tax Liability means, with respect to any Taxable Year, the liability for Covered Taxes of the Corporation (a) appearing on Tax Returns of the Corporation for such Taxable Year and (b) if applicable, determined in accordance with a Determination (including interest imposed in respect thereof under applicable law).

  • MUNICIPAL TAXABLE INCOME means the following:

  • Income Tax Return means any return, declaration, report, claim for refund, or information return or statement relating to Income Taxes, including any schedule or attachment thereto, and including any amendment thereof.

  • Straddle Tax Period means any taxable period beginning on or before and ending after the Closing Date.

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

  • Tax Liability means the total taxes due to a municipal corporation for the taxable year, after allowing any credit to which the taxpayer is entitled, and after applying any estimated tax payment, withholding payment, or credit from another taxable year.

  • Income Tax Returns mean all Tax Returns that relate to Income Taxes.

  • foreign tax means any Foreign Income Taxes or Foreign Other Taxes.

  • Tax Payments has the meaning set forth in the definition of Permitted Payments to Parent.

  • Tax Liabilities means all liabilities for Taxes.

  • Relevant Tax Authority means HMRC, or, if applicable, the tax authority in the jurisdiction in which the Supplier is established;