Federal Tax Liability. For each taxable year or part thereof --------------------- ending after the Effective Date that a Subgroup is included in the TCI Group, the Federal Tax Liability of such Subgroup shall be equal to the sum of:
a. The amount by which (i) the product of (x) the amount of taxable income attributable to such Subgroup for such period calculated, in accordance with Treasury Regulations section 1.1552-1(a)(1)(ii), as though such Subgroup were required to file a consolidated corporate federal income tax return pursuant to the Code (with the timing of the recognition of income, gain, deduction and loss and other items determined by reference to the timing of such items for purposes of the preparation of the consolidated return of the TCI Group except that current year items of loss and deduction shall be considered regardless of whether or not such items are utilized by the TCI Group) for such period multiplied by (y) the maximum corporate federal income tax rate in effect for such taxable year or part thereof exceeds (ii) the amount of tax credits attributable to such Subgroup (whether attributable to such taxable year or part thereof or carried to such taxable year or part thereof from another taxable year) that are actually utilized by the TCI Group to reduce its consolidated federal income tax liability for such period; plus
b. The product of (x) the amount of modified alternative minimum taxable income, within the meaning of Section 59A(b) of the Code, attributable to such Subgroup for such period calculated, in accordance with Treasury Regulations section 1.1552-1(a)(1)(ii), as though such Subgroup were required to file a consolidated corporate federal income tax return for such period multiplied by (y) the statutory rate set forth in Section 59A(a) of the Code.
Federal Tax Liability. Contractor certifies that they do not have any unpaid Federal tax liability that has been assessed, for which all judicial and administrative remedies have been exhausted or have lapsed, and that is not being paid in a timely manner pursuant to an agreement with the authority responsible for collecting the tax liability; and was not convicted of the felony criminal violation under any Federal law within the preceding 24 months.
Federal Tax Liability. For each taxable year or part thereof ending after the Effective Date that a Subgroup is included in the TCI Affiliated Group, TCI shall compute (i) the Regular Tax Liability of the Subgroup for such taxable year or part thereof and (ii) if the TCI Affiliated Group is liable for Alternative Minimum Tax, the Alternative Minimum Tax Liability of the Subgroup for such taxable year or part thereof. The Federal Tax Liability of such Subgroup for each taxable year or part thereof shall be equal to (i) the Regular Tax Liability of the Subgroup, if the TCI Affiliated Group is not liable for Alternative Minimum Tax during such taxable year or portion thereof and (ii) the Alternative Minimum Tax Liability of the Subgroup, if the TCI Affiliated Group is liable for Alternative Minimum Tax during such taxable year or portion thereof.
