Federal Returns Sample Clauses

Federal Returns. (a) A U.S. consolidated federal income tax return shall be prepared and filed by FirstEnergy for each taxable year in respect of which this Agreement is in effect and for which the Consolidated Group is required or permitted to file a consolidated federal income tax return. FirstEnergy and all its subsidiaries shall execute and file such consents, elections and other documents that may be required or appropriate for the proper filing of such returns. (i) The Consolidated Group will elect, on a timely basis, in accordance with Code Section 1552(b) and Section 1.1552-1(c)(2) of the Regulations to allocate its consolidated tax liability (other than alternative minimum tax ("AMT") and its related credits) among its Members under the method described in Sections 1.1502-33(d)(3) and 1.1552-1(a)(2) commencing with the consolidated taxable year ended December 31, 2002. The fixed percentage to be used for purposes of Regulations section 1.1502-33(d)(3)(i) is 100%. The general effect of such method is to first allocate the consolidated tax liability among the Members of the Consolidated Group on the basis of the percentage of the total consolidated tax which the tax of such Member (other than AMT and its related credits) if computed on a separate return basis would bear to the total amount of the taxes (other than AMT and its related credits) for all Members of the group so computed. Then such method allocates an additional amount (the "Tax Benefit Amount") to each Member up to, but not greater than, the excess, if any, of its Separate Return Tax liability (other than AMT and its related credits) over the amount allocated to such Member in the previous sentence. The total of the Tax Benefit Amounts allocated to Members shall result in payments to, and an increase in the earnings and profits of, the Members who had items of deduction, loss or credits to which such Tax Benefit Amount is attributable. This election is intended to comply with Rule 45(c)(5) under the Act, as modified by Section 2(d) below. (ii) The allocation of the alternative minimum tax liability incurred by the FirstEnergy Group and the resulting minimum tax credit shall be allocated in the manner set forth in Proposed and Temporary Treasury Regulation Sections 1.1502-55. This method generally allocates (i) any AMT paid by the FirstEnergy Group based on the relative separate adjusted AMT of each Member and (ii) the minimum tax credit ("AMTC") on the basis of the AMT previously assigned to such Member...
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Federal Returns. New Ralcorp will join, and will cause each eligible New Ralcorp Affiliate to join, in the consolidated Federal Tax Income Tax Return to be filed by Ralcorp for all Pre-Distribution Tax Periods. Ralcorp will not elect to file separate Federal Tax Income Tax Returns for any such periods;
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Federal Returns. If at any time and from time to time SFER so elects, Monterey and each Monterey Subsidiary agree to continue to join in the filing of consolidated federal income tax returns for the SFER Group for the calendar year 1996 and for any subsequent taxable periods of SFER ending before, on or after the Disaffiliation Date for which the SFER Group is eligible to file a consolidated federal income tax return including any Monterey Company with respect to pre-Disaffiliation operations. SFER shall continue to prepare and file all consolidated federal income tax returns which are required to be filed by the SFER Group for all such taxable periods and pay all taxes due thereon. Such returns shall include all income, gains, losses, deductions and credits of the Monterey Companies. SFER will make all decisions relating to the preparation and filing of such returns. Monterey and each Monterey Subsidiary further agree to file, or join in the filing of such authorizations, elections, consents and other documents and take such other actions as may be necessary or appropriate in the opinion of SFER to carry out the purposes and intent of this Paragraph A of Section 3. Monterey shall furnish SFER at least forty-five (45) days before such return is due (with extensions) with its completed section of each year's consolidated federal income tax return, prepared in accordance with instructions from SFER, on the Price Waterhouse Domestic Tax Management System ("DTMS"). Monterey shall also furnish DTMS work papers and such other information and documentation as is requested by SFER. Such information shall have been reviewed and approved by Monterey's auditors prior to its submission to SFER.
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Federal Returns. If at any time and from time to time WMS so elects, Midway and each Midway Subsidiary agree to continue to join in the filing of consolidated federal income tax returns for the taxable year ending June 30, 1998 and for any subsequent taxable periods of WMS ending before, on or after the Disaffiliation Date for which the WMS Group is eligible to file a consolidated federal income tax return including any Midway Company with respect to pre-Disaffiliation operations. WMS shall continue to prepare and file all consolidated federal income tax returns which are required to be filed by the WMS Group for all such taxable periods and pay all taxes due thereon. Such returns shall include all income, gains, losses, deductions and credits of the Midway Companies. WMS will make all decisions relating to the preparation and filing of such returns. Midway and each Midway subsidiary further agree to file, or join in the filing of such authorizations, elections, consents and other documents and take such other actions as may be necessary or appropriate in the opinion of WMS to carry out the purposes and intent of this paragraph A of Section 3. Midway shall furnish WMS at least forty five (45) days before such return is due (with extensions) with its completed section of each year's consolidated federal income tax return, prepared in accordance with instructions from WMS. Midway shall also furnish WMS with workpapers and such other information and documentation as is requested by WMS.
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Federal Returns. For all fiscal periods ending on the Separation Date as to which a consolidated Federal Return is appropriate in accordance with the terms of this Agreement, IDG as the common parent will prepare and file or cause to be prepared and filed the Federal Returns and any estimated payments related thereto for the Continuing IDG Group and IDGB. IDGB will reimburse IDG for IDGB's portion of the tax in accordance with this Agreement. Such reimbursement will be the tax IDGB would have paid on a separate return basis.
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Federal Returns. If at any time and from time to time SFP so elects, Energy and each Energy Subsidiary agree to continue to join in the filing of consolidated federal income tax returns for the calendar year 1989 and for any subsequent taxable periods of SFP ending before, on or after the Disaffiliation Date for which the SFP Group is eligible to file a consolidated federal income tax return including any Energy Company with respect to pre-Disaffiliation operations. SFP shall continue to prepare and file all consolidated federal income tax returns which are required to be filed by the SFP Group for all such taxable periods and pay all taxes due thereon. Such returns shall include all income, gains, losses, deductions and credits of the Energy Companies. SFP will make all decisions relating to the preparation and filing of such returns. Energy and each Energy Subsidiary further agree to file, or join in the filing of such authorizations, elections, consents and other documents and take such other actions as may be necessary or appropriate in the opinion of SFP to carry out the purposes and intent of this paragraph A of Section 3. Energy shall furnish SFP at least forty five (45) days before such return is due (with extensions) with its completed section of each year's consolidated federal income tax return, prepared in accordance with instructions from SFP, on the Price Waterhouse Domestic Tax Management System ("DTMS"). Energy shall also furnish DTMS workpapers and such other information and documentation as is requested by SFP. Such information shall have been reviewed and approved by Energy's independent auditors prior to its submission to SFP. SFP and Energy shall each pay one half of the cost of such review and approval by Energy's independent auditors, provided, however, that Energy's portion of such costs shall not exceed $10,000.
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Federal Returns. Within 10 days of the Effective Date of this Agreement, GRE shall submit to the United States Treasury a request or consent authorizing disclosure of federal tax returns to the Attorney General consistent with section 30165.2(b)(2) of the California Revenue and Taxation Code. The Signatory Parties agree that use of such federal tax returns is restricted to the permissible uses set forth in sections 30165.2(e) and (f) of the California Revenue and Taxation Code.
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Related to Federal Returns

  • Income Tax Returns Borrower has no knowledge of any pending assessments or adjustments of its income tax payable with respect to any year.

  • Information Returns At the Closing or as soon thereafter as is practicable, Seller shall provide Purchaser with a list of all Deposits on which Seller is back-up withholding as of the Closing Date.

  • Tax Information Returns and Reports The Service Provider shall prepare and file, and require to be prepared and filed by any brokers or banks as to their Customers, with the appropriate governmental agencies, such information, returns and reports as are required to be so filed for reporting: (i) dividends and other distributions made; (ii) amounts withheld on dividends and other distributions and payments under applicable federal and state laws, rules and regulations; and (iii) gross proceeds of sales transactions as required.

  • Federal Income Tax Matters The Certificateholders acknowledge that it is their intent and that they understand it is the intent of the Depositor and the Servicer that, for purposes of federal income, State and local income and franchise tax and any other income taxes, the Trust will be treated either as a disregarded entity under Treasury Regulation Section 301.7701-3 or as a partnership, and that the Certificateholders will be treated as partners in that partnership. The Certificateholders by acceptance of a Certificate agree to such treatment and agree to take no action inconsistent with such treatment. For each calendar quarter, other than periods in which there is only one Certificateholder: (i) net income of the Trust for any calendar quarter as determined for federal income tax purposes (and each item of income, gain, credit, loss or deduction entering into the computation thereof) shall be allocated among the Certificateholders as of the first day following the end of such quarter in proportion to their Certificate Percentage Interest on such date; and (ii) net losses of the Trust, if any, for any calendar quarter as determined for federal income tax purposes (and each item of income, gain, credit, loss or deduction entering into the computation thereof) shall be allocated among the Certificateholders as of the first day following the end of such quarter in proportion to their Certificate Percentage Interest on such date. The Depositor is authorized to modify the allocations in this Section 2.11 if necessary or appropriate, in its sole discretion, for the allocations to reflect fairly the economic income, gain, credit, loss or deduction to the Certificateholders or as otherwise required by the Code.

  • Federal Income Tax Elections The Member shall make all elections for federal income tax purposes.

  • Tax Returns (a) Parent shall prepare or cause to be prepared and file or cause to be filed when due all Tax Returns required to be filed for taxable periods of each Business Entity other than Aleris Germany ending on or before the Closing Date, and shall pay or cause to be paid any Taxes due in respect of such Tax Returns. To the extent such Taxes (including Taxes treated as Transaction Expenses) are taken into account as liabilities in the calculation of Net Working Capital, Parent shall provide Buyer with written notice of such payment, and within ten (10) Business Days of receipt of such written notice of payment, Buyer shall reimburse Parent for such Taxes. No later than ninety (90) days after the Closing Date, Buyer shall cause each Business Entity to furnish to Parent Tax information relating to such Business Entity, consistent with the past practice and custom of Sellers and such Business Entity. (b) Buyer shall procure that Aleris Germany (i) shall instruct a German tax adviser selected by Parent to prepare (observing comments and instructions of the Parent) all annual Tax Returns required to be filed for taxable periods of Aleris Germany ending on or before the Closing Date, (ii) shall review and sign off on the draft Tax Returns and (iii) instruct the tax adviser to file such Tax Returns when due. Parent shall pay or cause to be paid any Taxes due and payable by Aleris Germany in respect of such Tax Returns (except to the extent such Taxes (including Taxes treated as Transaction Expenses) are taken into account as liabilities in the calculation of Net Working Capital). No later than ninety (90) days after the Closing Date, Buyer shall cause Aleris Germany to furnish to Parent and the tax adviser Tax information relating to it, consistent with the past practice and custom of the Sellers and Aleris Germany. (c) Except as provided in Section 6.03(a), Section 6.03(b) and Section 6.03(e), Buyer shall prepare or cause to be prepared and file or cause to be filed when due all Tax Returns required to be filed by any Business Entity, and shall pay or cause to be paid any Taxes due in respect of such Tax Returns. (d) Any Tax Return required to be filed with respect to a Straddle Period of any Business Entity shall be prepared in accordance with the past practice and custom of Sellers and such Business Entity and shall be submitted (with copies of any relevant schedules, work papers and other documentation then available) to Parent for Parent’s written approval not less than thirty (30) days prior to the due date for the filing of such Tax Return, which written approval shall not be unreasonably withheld, conditioned or delayed. Parent shall have the option of providing to Buyer, at any time at least fifteen (15) days prior to the due date, written instructions as to the manner in which any, or all, of the items for which it may be liable hereunder shall be reflected on such Tax Return. Buyer shall, in preparing such Tax Return, cause the items for which Parent may be liable hereunder to be reflected in accordance with Parent’s instructions, to the extent permitted by Law. (e) The Person required by applicable Law to file any Tax Returns or other documentation with respect to any Transfer Taxes shall prepare and file such Tax Returns or other documentation and pay the Taxes due with respect thereto. Parent and Buyer shall each, and shall each cause their Affiliates to, cooperate in the timely preparation and filing of, and join in the execution of, any such Tax Returns and other documentation. (f) To the extent a party pays Taxes pursuant to this Section 6.03 for which such party is not responsible under Section 6.01, the paying party shall, in good faith, provide the other party’s representative (Parent or Buyer, as the case may be), with written notice of such payment, and within ten (10) Business Days of receipt of such written notice of payment, the non-paying party’s representative shall reimburse the paying party for the non-paying party’s share of the paid Taxes.

  • Company Tax Returns The Company shall file all tax returns, if any, required to be filed by the Company.

  • Income Tax Return Information Each Company will provide to the other Company information and documents relating to their respective Groups required by the other Company to prepare Tax Returns. The Responsible Company shall determine a reasonable compliance schedule for such purpose in accordance with Distributing Co.'s past practices. Any additional information or documents the Responsible Company requires to prepare such Tax Returns will be provided in accordance with past practices, if any, or as the Responsible Company reasonably requests and in sufficient time for the Responsible Company to file such Tax Returns on a timely basis.

  • Returns Provided no Event of Default has occurred and is continuing, if any Account Debtor returns any Inventory to Borrower, Borrower shall promptly (i) determine the reason for such return, (ii) issue a credit memorandum to the Account Debtor in the appropriate amount, and (iii) provide a copy of such credit memorandum to Bank, upon request from Bank. In the event any attempted return occurs after the occurrence and during the continuance of any Event of Default, Borrower shall hold the returned Inventory in trust for Bank, and immediately notify Bank of the return of the Inventory.

  • Tax Returns and Elections The Company shall cause to be prepared and timely filed all federal, state and local income tax returns or other returns or statements required by applicable law. As soon as reasonably practicable after the end of each fiscal year of the Company, the Company shall cause to be prepared and delivered to the Member all information with respect to the Company necessary for the Member’s federal and state income tax returns.

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