Gross receipts safe harbor Sample Clauses

Gross receipts safe harbor. A cor- poration may treat its earnings and profits for a year as active earnings and profits in the same proportion as the corporation’s gross receipts (as de- fined in § 1.1362–2(c)(4)) derived from ac- tivities that would not produce passive investment income (if the C corpora- tion were an S corporation), including those that do not produce passive in- vestment income under paragraphs (b)(2) through (b)(4) of this section, bear to the corporation’s total gross re- ceipts for the year in which the earn- ings and profits are produced.
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Related to Gross receipts safe harbor

  • Safe Harbor The recipient government will then compare the reporting year’s actual tax revenue to the baseline. If actual tax revenue is greater than the baseline, Treasury will deem the recipient government not to have any recognized net reduction for the reporting year, and therefore to be in a safe harbor and outside the ambit of the offset provision. This approach is consistent with the ARPA, which contemplates recoupment of Fiscal Recovery Funds only in the event that such funds are used to offset a reduction in net tax revenue. If net tax revenue has not been reduced, this provision does not apply. In the event that actual tax revenue is above the baseline, the organic revenue growth that has occurred, plus any other revenue-raising changes, by definition must have been enough to offset the in-year costs of the covered changes.

  • Rollovers of Xxxx Elective Deferrals Xxxx elective deferrals distributed from a 401(k) cash or deferred arrangement, 403(b) tax-sheltered annuity, 457(b) eligible governmental deferred compensation plan, or federal Thrift Savings Plan, may only be rolled into your Xxxx XXX.

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