Federal and State Income Taxes Sample Clauses

Federal and State Income Taxes. Lessee acknowledges that Lessor shall be entitled to claim (or have claimed) for Federal and State income tax purposes interest and depreciation deductions on the total original cost of the Equipment utilizing any method of depreciation permitted for the Equipment under the Internal Revenue Code of 1986, as amended or any applicable state tax (hereinafter called the "Code"). (All interest and depreciation deductions to which Lessor is entitled under this Section 3.13 are collectively referred to as "Allowances".) Lessee agrees to take no action inconsistent with the foregoing or which would result in the loss, disallowance, recapture or unavailability to Lessor (or an Assignee of Lessor) of the Allowances, and represents and warrants that from the time Lessor becomes the owner of the Equipment no depreciation or other tax benefits will be claimed by Lessee with respect to the Equipment. Lessee shall indemnify Lessor on an after-tax basis for any loss of all or any portion of the Allowances due to Lessee's act, omission to act, misrepresentation or any Event of Loss under Section 3.4 above.
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Federal and State Income Taxes. The earnings on an ABLE United account are deferred for federal income tax purposes until withdrawal. As long as withdrawals from the Account are used for the Beneficiary’s Qualified Disability Expenses, the earnings portion of the withdrawals will not be subject to federal income taxation. Contributions to the Account and earnings on the Account are exempt from State of Florida taxation. If the Beneficiary moves to another state or has taxable income in another state, and if that state has established a Qualified ABLE Program, that state’s program may offer favorable state income tax benefits or other benefits that are only available if you invest in that state’s program, and are not available to the Beneficiary in this Program.
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Federal and State Income Taxes. (a) The Managing Member, at the expense of the Company, shall arrange for the preparation and timely filing of all returns of the Company showing all income, gains, deductions, and losses necessary for federal and state income tax purposes, and shall furnish to the Members the tax information reasonably required for federal and state income tax reporting purposes. The Company will provide the Members with tax information on Schedule K-1 annually for their use in filing individual tax returns. No Member shall take a position on its tax return that is inconsistent with such Schedule K-1 provided by the Company.
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Federal and State Income Taxes. (a) If as a result of (i) any audit, amendment, other change or adjustment to the federal income Tax liability of the Consolidated Group for any taxable year that includes the Orchard Companies, or (ii) any audit, amendment, other change or adjustment to the state income Tax liability of the State Group that includes Sears Holdings and the Orchard Companies for any taxable period ending on or before January 1, 2005, there is an additional amount of federal or state income Taxes due and payable or a refund of federal or state income Taxes previously paid (whether by payment, credit, offset against other Taxes due or otherwise), any such deficiency shall be the responsibility of and shall be paid by Sears Holdings and Sears Holdings shall indemnify the Orchard Companies therefor, and any such refund shall be for the benefit of and shall be payable to Sears Holdings.
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Federal and State Income Taxes. Questar Pipeline’s combined federal and state income tax rate shall be applied to the equity portion of the return on rate base.
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Federal and State Income Taxes. The Board, at the expense of the Fund, shall arrange for the preparation and timely filing of all tax returns of the Fund showing all income, gains, deductions, and losses necessary for federal and state income tax purposes, and shall furnish to the Feeder Funds within 60 days of the close of the taxable year the tax information reasonably required for federal and state income tax reporting purposes. The Board, in its sole discretion, shall have the authority to cause the Fund to make or revoke any elections (except an election to be treated as a corporation) permitted under the Code, Regulations, or any state or local tax law, including without limitation the election referred to in Section 754 of the Code.
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Related to Federal and State Income Taxes

  • Federal and State Taxes Under this Agreement, the Client shall not be responsible for: Withholding FICA, Medicare, Social Security, or any other federal or state withholding taxes from the Contractor’s payments to employees or personnel or make payments on behalf of the Contractor; Make federal or state unemployment compensation contributions on the Contractor’s behalf; and the payment of all taxes incurred related to or while performing the Services under this Agreement, including all applicable income taxes and, if the Contractor is not a corporation, all applicable self-employment taxes. Upon demand, the Contractor shall provide the Client with proof that such payments have been made.

  • Income Taxes Paragraph 1. The authority citation for part 1 continues to read in part as follows: Authority: 26 U.S.C. 7805 * * * EXHIBIT G-2 FORM OF TRANSFEROR CERTIFICATE __________ , 20__ Residential Funding Mortgage Securities I, Inc. 8400 Normandale Xxxx Xxxxxxxxx Xxxxx 000 Xxxxxxxxxxx, Xxxxxxxxx 00000 [Trustee] Attention: Residential Funding Corporation Series _______ Re: Mortgage Pass-Through Certificates, Series ________, Class R[-__] Ladies and Gentlemen: This letter is delivered to you in connection with the transfer by _____________________ (the "Seller") to _____________________(the "Purchaser") of $______________ Initial Certificate Principal Balance of Mortgage Pass-Through Certificates, Series ________, Class R[-__] (the "Certificates"), pursuant to Section 5.02 of the Series Supplement, dated as of ________________, to the Standard Terms of Pooling and Servicing Agreement dated as of ________________ (together, the "Pooling and Servicing Agreement") among Residential Funding Mortgage Securities I, Inc., as seller (the "Company"), Residential Funding Corporation, as master servicer, and __________, as trustee (the "Trustee"). All terms used herein and not otherwise defined shall have the meanings set forth in the Pooling and Servicing Agreement. The Seller hereby certifies, represents and warrants to, and covenants with, the Company and the Trustee that:

  • FEDERAL EXCISE TAX A. Any taxes (including (i) any taxes based on or imposed on, in whole or in part, the Reinsurer's net income or (ii) any excise taxes under Section 4371 of the Internal Revenue Code of 1986, as amended (the "Code") with respect to the business covered under this Contract) imposed by any governmental entity in respect of amounts paid to the Reinsurer under this Contract will be the responsibility of the Reinsurer and the Company shall have no liability therefor. The Reinsurer will allow the Company to deduct, for the purpose of paying Federal Excise Tax the applicable percentage of any premium payable hereon (as imposed under Section 4371 of the Code) to the extent such premium is subject to such tax. Without limiting the foregoing, the Reinsurer shall indemnify and hold harmless the Company and the Insured against any excise taxes imposed under Section 4371 of the Code with respect to the business covered under this Contract except to the extent any penalties applied or interest arising from the Company's negligence.

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