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:
Income Taxes. Paragraph 1. The authority citation for part 1 continues to read in part as follows: Authority: 26 U.S.C. 7805 * * * Exhibit K Exhibit L [FORM OF RULE 144A INVESTMENT REPRESENTATION] Description of Rule 144A Securities, including numbers: ___________________________________ ___________________________________ ___________________________________ ___________________________________ The undersigned seller, as registered holder (the “Seller”), intends to transfer the Rule 144A Securities described above to the undersigned buyer (the “Buyer”).
Income Taxes. Borrower shall report on its federal, state and local income tax returns all interest or income accrued on the Reserve Funds.
Income Taxes. Paragraph 1. The authority citation for part 1 continues to read in part as follows: Authority: 26 U.S.C. 7805 * * * [Reserved] Exhibit L [FORM OF RULE 144A INVESTMENT REPRESENTATION] Description of Rule 144A Securities, including numbers: The undersigned seller, as registered holder (the “Seller”), intends to transfer the Rule 144A Securities described above to the undersigned buyer (the “Buyer”).
Income Taxes. Each Party shall be responsible for its own Income Taxes.
Income Taxes. Except as provided in the next sentence, the Company shall withhold and/or reacquire a number of Shares issued in payment of (or otherwise issuable in payment of, as the case may be) the Restricted Stock Units having a Fair Market Value equal to the taxes that the Company determines it or the Employer is required to withhold under applicable tax laws with respect to the Restricted Stock Units (with such withholding obligation determined based on any applicable minimum statutory withholding rates). In the event the Company cannot (under applicable legal, regulatory, listing or other requirements, or otherwise) satisfy such tax withholding obligation in such method, the Company may satisfy such withholding by any one or combination of the following methods: (i) by requiring the Grantee to pay such amount in cash or check; (ii) by deducting such amount out of any other compensation otherwise payable to the Grantee; and/or (iii) by allowing the Grantee to surrender shares of Common Stock of the Company which (a) in the case of shares initially acquired from the Company (upon exercise of a stock option or otherwise), have been owned by the Grantee for such period (if any) as may be required to avoid a charge to the Company’s earnings, and (b) have a Fair Market Value on the date of surrender equal to the amount required to be withheld. For these purposes, the Fair Market Value of the Shares to be withheld or repurchased, as applicable, shall be determined on the date that the amount of tax to be withheld is to be determined.
Income Taxes. Each Party is responsible for its own income taxes or taxes based on gross revenues or gross receipts.
Income Taxes. A summary of the provision for income taxes is as follows: YEAR ENDED DECEMBER 31, ------------------------------ 1999 -------- 2000 -------- 2001 -------- Federal: Current........................................ $35,658 $27,854 $24,144 Deferred....................................... 12,762 5,606 5,016 State: Current........................................ 6,125 4,537 3,450 Deferred....................................... Provision for income taxes....................... 2,174 ------- $56,719 ======= 955 ------- $38,952 ======= 715 ------- $33,325 ======= The effective income tax rate differs from the amount computed on income before income taxes by applying the U.S. federal income tax rate because of the effect of the following items: YEAR ENDED DECEMBER 31, 1999 2000 2001 Tax at U.S. federal income tax rate................... 35% 35% 35% Nondeductible expenses................................ 3 2 2 State income taxes, net of federal benefit............ 7 4 3 Valuation allowance................................... (1) -- -- -- -- -- 44% 41% 40% == == == The components of deferred tax assets and liabilities are as follows: DECEMBER 31, ------------------- 2000 2001 -------- -------- Deferred assets (liabilities): State net operating loss carryforwards.................... $ 1,281 $ 2,345 Intangible amortization................................... (35,089) (43,067) Deferred compensation..................................... 1,934 1,716 Accruals.................................................. 1,248 2,721 -------- -------- (30,626) (36,285) -------- -------- Valuation allowance......................................... (1,281) (1,796) -------- -------- Net deferred income taxes................................... $(31,907) $(38,081) ======== ======== 45 AFFILIATED MANAGERS GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) 7. INCOME TAXES (CONTINUED) At December 31, 2001, the Company had state net operating loss carryforwards of $49,962, which expire over a period of 15 years beginning in the year 2002. The realization of these carryforwards is dependent on generating sufficient taxable income prior to their expiration. The valuation allowance at December 31, 2000 and 2001 is related to the uncertainty of the realization of these loss carryforwards.
Income Taxes. The Custodian shall be responsible solely for the performance of those duties expressly assigned to it in this Xxxxxxxxx ESA Custodial Agreement and by operation of law. In determining the taxable amount of a distribution, the Responsible Individual shall rely only on the federal tax records of the Designated Beneficiary.
