Alternative Minimum Taxes Clause Samples
The Alternative Minimum Taxes clause establishes the requirement for a taxpayer to calculate and potentially pay a minimum level of tax, regardless of deductions or credits that might otherwise reduce their tax liability. In practice, this clause applies when a taxpayer's regular tax falls below a certain threshold due to various exemptions or deductions; the taxpayer must then recalculate their tax using the alternative minimum tax (AMT) rules and pay the higher amount. The core function of this clause is to ensure that individuals or entities with significant income cannot avoid a fair share of taxes through excessive use of tax benefits, thereby maintaining tax equity.
Alternative Minimum Taxes. Alternative minimum Taxes (other than alternative minimum Taxes allocated pursuant to Section 2.04(d) and Section 2.05) shall be allocated in proportion to the respective separate amounts of alternative minimum tax of the EFH Consolidated Corporation, on the one hand, and the Reorganized TCEH Consolidated Corporation, on the other hand.
Alternative Minimum Taxes. If for any Taxable Year the REC Group shall have a liability for federal
Alternative Minimum Taxes. Alternative minimum Taxes (other than Taxes resulting from (x) a Tax-Free Transaction Failure, (y) the Preferred Stock Sale or (z) except in cases where there has been a Tax-Free Transaction Failure, any Specified Tax Items) shall be allocated between the EFH Parties, on the one hand, and Reorganized TCEH, on the other hand, in proportion to the respective separate amounts of alternative minimum tax each of the Reorganized EFH Entities and EFH Properties Company, on the one hand, and the Reorganized TCEH Entities (other than EFH Properties Company), on the other hand, would have if each such group separately determined its alternative minimum tax based on items attributable to any business retained by any Reorganized EFH Entity or EFH Properties Company, on the one hand, and any business contributed to (or otherwise held on the Effective Date by) any Reorganized TCEH Entity (other than EFH Properties Company), on the other hand.