Leasehold Excise Tax. In addition to the base rental amount, Lessee shall pay all leasehold or excise taxes as now or hereafter assessed on the Premises or this Lease. The total annual amount of leasehold tax is subject to adjustment for changes in the amount and rate of the leasehold tax, if applicable and imposed.
Leasehold Excise Tax. Lessee shall pay to State, in the manner required by applicable law, the leasehold excise tax as set forth in RCW 82.29A.030. For purposes of calculating the leasehold excise tax due under such statute, the “taxable rent” upon which leasehold excise tax shall be levied for the Initial Term shall be the amount of consideration due as payment for the leasehold interest created hereby, which shall be equal to (i) the gross purchase price paid by Lessee for the XxXxxxxx Property, including closing and other incidental costs paid by Lessee in connection with its purchase of the XxXxxxxx Property and the subsequent conveyance of the XxXxxxxx Property to the State pursuant to Section
3.1.1 above, plus (ii) unless otherwise provided by applicable law, expenditures made by Lessee for improvements to the Leased Premises, to the extent such improvements will become property of State (which, for purposes of clarification, shall not include the Rehabilitation work described herein). The taxable rent described in the foregoing clause (i) shall be considered prepaid contract rent for purposes of RCW 82.29A and, accordingly, the leasehold excise tax thereon shall be prorated over the term of this Lease pursuant to RCW 82.29A.050(1), as may be amended hereafter, and paid by Lessee at such times and intervals as may be required by applicable law. The taxable rent described in the foregoing clause
Leasehold Excise Tax. No leasehold excise tax is applicable to this transaction as all entities involved are exempt as public entities.
Leasehold Excise Tax. WSR has paid the City the outstanding leasehold excise tax of $86,942.07 owed through August 31, 2022. WSR shall continue to owe leasehold excise tax of $3,241.83 a month until the date of this Agreement. If WSR declines to pay the monthly leasehold excise tax, the City will file a timely notice of nonpayment with the Department of Revenue (DOR). WSR will continue to owe the monthly leasehold excise tax amount of $3,241.83 until the date of this Agreement and then $2,568 during the term of this Agreement (calculated as 12.84% of $20,000 a month rent), unless a lesser amount is approved by DOR. The City will cooperate with WSR in its effort to have the DOR accept a lower monthly leasehold excise tax amount and to refund a portion of leasehold excise taxes previously paid.
Leasehold Excise Tax. Tenant agrees to pay promptly, as the same become due during the term of this Lease, all taxes levied upon and assessed against the Property which are due and payable during the term of this Lease, including the excise tax levied upon the Tenant’s interest pursuant to RCW 82.29A (except for taxes assessed for or payable for any period of time prior to or after the term of this Lease, which taxes shall be paid by the City).
Leasehold Excise Tax. Should a leasehold excise tax be imposed on this Lease or any interest therein, Lessee shall pay to State the leasehold excise tax as set forth in RCW Chapter 82.29A, or as may be amended. As of the Effective Date of this Lease, leasehold excise tax rate is 12.84 percent. Leasehold tax shall be incorporated into Rent, unless paid directly to State. However, Lessee may be assessed leasehold excise tax directly from the Washington State Department of Revenue. In this instance, Lessee shall notify State in writing thereof.
Leasehold Excise Tax. In addition to any use permit fee which Permittee is required to pay hereunder, Permittee shall timely pay any and all leasehold excise tax imposed by RCW82.29A, or any other applicable section of the Revised Code of Washington.
Leasehold Excise Tax. Developer will pay to Port any Washington State Leasehold Excise Taxes due for any Phases of development for which Ground Lease(s) have been executed. The current Leasehold Excise Tax rate is 12.84% of any ground lease payments due, though this rate could increase. Upon receipt of Leasehold Excise Tax Payments from Developer, Port will then pay Leasehold Excise Taxes to the Washington State Department of Revenue.
Leasehold Excise Tax. The Parties acknowledge that under RCW 82.29A130(14), certain portions of the Leased Premises will be exempt from the leasehold excise tax imposed pursuant to RCW 82.29A.030 and 82.29A.040. Based on such exemption, the Parties acknowledge that only those portions of the Leased Premises that contain the private offices (“Offices”) and locker room/clubhouse (“Clubhouse”) of the Club will be subject to leasehold excise tax, and such tax will be determined as set forth in this Section 20.2.
Leasehold Excise Tax. Should a leasehold excise tax be imposed on this Lease or any interest therein, Lessee shall pay to State the leasehold excise tax as set forth in Chapter 82.29A RCW, or as may be amended. Leasehold tax shall be incorporated into Rent. However, Lessee may be assessed leasehold excise tax directly from the Washington State Department of Revenue. In this instance, Lessee must submit to State a written request, with supporting documentation from the Washington State Department of Revenue, to terminate or cease leasehold excise tax billing.
