Separate Return Tax Liability definition

Separate Return Tax Liability means the federal income tax liability, including for all purposes of this Agreement, alternative minimum tax liability, of a Member computed as if it had filed a separate federal income tax return for the applicable taxable year with the modifications set forth in section 1.1552-1(a)(2)(ii) of the Regulations.

Separate Return Tax Liability means, in the case of any member of the SpinCo Group, the hypothetical tax liability which would have been reported if the relevant member of the SpinCo Group had been required to report its tax liability on a SpinCo Separate Return.

Separate Return Tax Liability means, with respect to an ----------------------------- Affiliated Subsidiary Group for any Pre-Distribution Year, the sum of the Federal Income Tax for each member of the Affiliated Subsidiary Group for such year determined by using the method described in section 1.1502-32(b)(3)(iv)(D) of the Treasury Regulations.

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.

More Definitions of Separate Return Tax Liability

Separate Return Tax Liability shall have the meaning given to such term in Section 3 hereof.

Separate Return Tax Liability means, with respect to the ----------------------------- Mykrolis Affiliated Group for any Pre-Distribution Year, the sum of the Federal Income Tax for each member of the Mykrolis Affiliated Group for such year determined by using the method described in section 1.1502-32(b)(3)(iv)(D) of the Treasury Regulations and as if the Mykrolis Affiliated Group constituted a separate taxpayer.

Separate Return Tax Liability means with respect to any taxable year the hypothetical tax liability of each Member determined on a pro forma basis as if the Member had filed its own separate tax return for such year (and for every taxable year or period prior thereto in which the Member was a Member), and calculated by (i) taking into account only losses, credits, carryovers of losses and credits from prior or subsequent years, and other tax attributes of the Member (determined in the case of income taxes without reference to the effect of the application of the consolidated return regulations on the Member’s attributes), all of which attributes are subject to the limitations of the Code or other applicable law that would have been applicable had the Member filed a separate tax return for all taxable years relating to the computation, (ii) in the case of income taxes imposing a tax on the taxable income of the Member at a rate equal to the marginal rate specified by the Code or applicable state or local law for the taxable year under each applicable tax provision (including without limitation the taxes imposed under Sections 11, 55 and 1201(a) of the Code), without surtax exemptions, and (iii) employing the methods and principles of accounting, elections and conventions that are used by the Group. The Separate Return Tax Liability of a Member shall include any interest or penalties that would have been shown as due had such Member filed a separate tax return for the taxable year or period in accordance with this subparagraph (g). For purposes of determining the Separate Return Tax Liability of a Member, the following special rules shall apply:

Separate Return Tax Liability means with respect to any Member for any taxable year the hypothetical federal income tax liability of such Member determined on a pro forma basis as if such Member had filed its own separate federal income tax return for such year and calculated by (i) taking into account only losses, credits, carryovers of losses and credits from prior or subsequent years, and other tax attributes of the Member (determined without reference to the effect of the application of the consolidated return regulations on the Member's attributes), all of which attributes are subject to the limitations of the Code that would have been applicable had the Member filed a separate federal income tax return for all taxable years relating to the computation, (ii) imposing a tax on the taxable income of the Member at a rate equal to the rate specified by the Code for the taxable year under each applicable tax provision (including without limitation the taxes imposed under Sections 11, 55 and 1201(a) of the Code), without surtax exemptions, and (iii) employing the methods and principles of accounting, elections and conventions that are used by the Group. The Separate Return Tax Liability of a Member shall include any interest or penalties that would have been shown as due had such Member filed a separate federal income tax return for the taxable year in accordance with this subparagraph (e).

Separate Return Tax Liability has the meaning ascribed thereto in Section 4(b)(1).

Separate Return Tax Liability means the tax liability described in Article 2.1.

Separate Return Tax Liability means, with respect to any consolidated return year, the federal income tax liability (including alternative minimum tax and environmental tax) which (1) in the case of a Member that is not a Parent, is computed as if the Member had filed a separate federal income tax return and (2) in the case of a Parent, is computed as if the Parent had filed a consolidated federal income return with the Members of its Subgroup. In computing separate return tax liability, each Member or Parent, as the case may be, shall follow the tax elections and other tax positions adopted or prescribed by SFER and shall take into account the adjustments and modifications set forth in Article 2.2.