Calculation of Taxes. For purposes of any provision of this Agreement requiring the payment by the Company of Executive's applicable Federal, state and local taxes with respect to any benefit or payment provided for hereunder, such Federal, state and local taxes shall be computed at the maximum marginal rates, taking into account the effect of any loss of personal exemptions resulting from receipt by Executive of such benefit or payment.
Calculation of Taxes. Consulting hereby authorizes KPMG to calculate the total amount of any sales, use, excise, occupation, privilege, value-added, gross receipts, payroll and related or other similar tax due by Consulting and remit the amount of such taxes to the appropriate taxing authority on behalf of Consulting. KPMG’s remittance of the sales, use, excise, occupation, privilege, value-added, gross receipts or other similar tax on behalf of Consulting shall be computed by KPMG on the basis of the information available to KPMG.
Calculation of Taxes. (a) Notwithstanding any other provision of this Agreement, to the extent permitted by law, the following amounts (the “MVT Compensation Payments”) shall be treated as deductible by MVT Holding or its Subsidiaries for all Income Tax purposes (and not by any member of the MI Group): (A) any deduction arising by virtue of the exercise after the Distribution Time of any compensatory option to acquire MVT Holding Common Stock, (B) any deduction arising by virtue of the vesting after the Distribution Time of any restricted shares of MVT Holding Common Stock or New MI Corp. Common Stock held by an employee of a member of the MVT Group and (C) any deductible investment banking fees or other legal fees incurred and paid by any member of the MVT Group in connection with the Transactions. To the extent permitted by law, the following amounts (the “MI Compensation Payments”) shall be treated as deductible by MI Corp. or its Subsidiaries for all Income Tax purposes (and not by any member of the MVT Group): (A) any deduction arising by virtue of the exercise of any compensatory option to acquire MI Corp. Common Stock or New MI Corp. Common Stock, (B) any deduction arising by virtue of the vesting prior to the Distribution Time of any restricted shares of MI Corp. Common Stock, (C) any deduction arising by virtue of the vesting after the Distribution Time of any restricted shares of MVT Holding Common Stock or New MI Corp. Common Stock held by an employee of a member of the MI Group and (D) any deductible investment banking fees or other legal fees incurred and paid by any member of the MI Group in connection with the Transactions. In the event that, notwithstanding the foregoing, it is determined that any MVT Compensation Payment is deductible by MI Corp. or any of its Subsidiaries or any MI Compensation Payment is deductible by MVT Holding or any of its Subsidiaries, appropriate reconciliation payments shall be made between the parties.
(b) To the extent required by Applicable Laws, the Taxable year of each member of the MI Group shall close at the close of the Distribution Date and the Taxable income of such year for Income Tax purposes shall be computed taking into account the principles of Treasury Regulation Section 1.1502-76(b) or of a corresponding provision under the laws of an applicable state, local, municipal or foreign jurisdiction, except that no “ratable allocation election” shall be made.
Calculation of Taxes. Property taxes are based upon an appraisal of the property performed by the Xxxxx County Assessor’s Office. An appraisal is conducted every five years on properties located within Xxxxx County and the values are updated each year by an index computed by the State of Nevada Department of Taxation. According to personnel at the Assessor’s Office, properties are appraised for taxable value based upon the cost approach. This approach to value is performed by estimating the replacement cost new of a property, less depreciation at 1.5% per year of effective age, up to a maximum of 75%. State Statute 361.227 indicates that the taxable value of the property must not exceed the current market value. Since the cost approach in some instances may provide an indication higher than current market value, the sales comparison approach and/or income capitalization approach may be used to establish the taxable value of the property. Property taxes are calculated by multiplying 35% of the taxable value by the tax rate.
Calculation of Taxes. ATTRIBUTABLE TO THE MEXICAN SALE
Calculation of Taxes. For purposes of this Article 2, any reference to Taxes shall include, unless specifically excluded, (i) a reduction in Refund and (ii) any increase in such Tax as a result of a Final Determination.
Calculation of Taxes. ValueStar hereby authorizes FDMS to calculate the total amount of taxes due by ValueStar from the monies due FDMS and remit the amount of taxes to the appropriate taxing authority on behalf of ValueStar. FDMS's remittance of the taxes on behalf of ValueStar shall be computed by FDMS on the information available to FDMS. In the event of the under or over calculation of any taxes, ValueStar shall be responsible for any additional monies due including any penalties or interest and for collecting any refunds due to ValueStar from the appropriate taxing authority.
Calculation of Taxes. The amount of Tax relating to a Pre-Closing Tax Period which is part of (included in) a Straddle Period, including for purposes of calculating income includable under Code §951(a), shall be calculated as though the taxable year of each of the Transferred Companies terminated as of the close of business on the Closing Date; provided, however, that in the case of a Tax not based on income, receipts, proceeds, profits or similar items, the amount of Tax relating to a Pre -Closing Tax Period shall be equal to the amount of such Tax for the entire Straddle Period multiplied by a fraction, the numerator of which shall be the number of days from the beginning of the Straddle Period through the Closing Date and the denominator of which shall be the number of days in the entire Straddle Period.
Calculation of Taxes. Buyer hereby authorizes FDRI to calculate the total amount of sales taxes due by Buyer from the monies due FDRI and remit said amount of sales taxes to the appropriate taxing authority on Buyer's behalf. FDRI's remittance of the sales taxes referred to in this paragraph on Buyer's behalf shall be computed by FDRI on the best information available. In the event of error, Buyer shall be responsible for any additional monies deemed to be due and for collecting any refunds Buyer deems it is due from the appropriate taxing authority.
Calculation of Taxes. For purposes of this Agreement, in the case of any Taxes that are payable with respect to a taxable period that includes (but does not end on) the Closing Date, the portion of such Taxes allocated to the Pre-Closing Tax Period shall, (i) in the case of any property or ad valorem Taxes applicable to the Purchased Assets or the Assets of the Acquired Entities as of the Closing Date, be deemed to be the amount of such Taxes for the entire taxable period multiplied by a fraction, the numerator of which is the number of days in the taxable period ending on (and including) the Closing Date and the denominator of which is the number of days in the entire taxable period, and (ii) in the case of any other Taxes, be deemed equal to the amount which would be payable if the relevant taxable period ended on the Closing Date.
