Examples of Taxable Year in a sentence
The Company shall submit to the Illinois Department of Revenue a copy of the Director’s Certificate of Verification for each Taxable Year that the Company claims the Credit, provided that the failure to submit a copy of the Certificate with the Company’s annual return filed for Illinois State Income Taxes shall not invalidate a claim for a Credit.
Pursuant to Section 211(4) of the Illinois Income Tax Act, the Company may carryforward any Unused Credit and apply it to its Illinois State Income Taxes imposed in the five (5) Taxable Years following the Taxable Year in which there is Unused Credit so long as the Company is in compliance with the terms and conditions of this Agreement, and subject to the limitations on the total amount of Credits for all Taxable Years, as set forth in Sections IV.B through IV.D.
The Project shall be Placed in Service by the Company, and the requirements of Sections IV.B through IV.D shall be met, by the end of the second full Taxable Year after the Effective Date.
The first Taxable Year for which the Company may claim the Credit shall be the first Taxable Year in which the Project is Placed in Service, and the total number of Taxable Years for which the Company shall receive the Credit under this Agreement shall be ten (10) years from the date the Project is Placed in Service.
The Maximum Credit Amount is the amount of tax credits the Company may earn during the Taxable Years between the First Eligible Taxable Year and the Eligibility Deadline.