Income Taxes in Respect of Joint Returns for Post-2017, Pre-Deconsolidation Periods. For purposes of this Agreement, with respect to any Joint Income Tax Return for any Post-2016 Period that ends on or before the Deconsolidation Date, Income Taxes that are attributable to the Newmark Business shall be the hypothetical stand-alone Tax Liability of the Newmark Group (and/or any of its members) for such Tax Period with respect to a pro forma Tax Return of members of the Newmark Group that takes into account only the relevant operations, assets and liabilities (and relevant Tax Items (including, for the avoidance of doubt, deductions pursuant to the New York City Unincorporated Business Tax) attributable to or arising out of such relevant operations, assets and liabilities) of the Newmark Business and prepared on the following basis, as determined by BGC Partners in its sole good faith discretion:
Appears in 4 contracts
Samples: Tax Matters Agreement (BGC Partners, Inc.), Tax Matters Agreement (Newmark Group, Inc.), Tax Matters Agreement (Newmark Group, Inc.)
