Special Tax Provisions Sample Clauses
Special Tax Provisions. (i) The Owner of the items of Equipment, shall be entitled to take into account in computing its Federal income tax liability, Current Tax Rate and such deductions, credits, and other benefits as are provided by the Code to an owner of property, including, without limitation:
(A) Recovery deductions ("Recovery Deductions") under Section 168 (a) of the Code for each item of Equipment in an amount determined, commencing with the 1995 taxable year, by multiplying the Owner's Cost of such item of Equipment by the percentages applicable under Section 168 (b) of the Code with respect to "(5)-year property" within the meaning of Section 168 (c)(2) of the Code;
(B) Amortization of expenses ("Amortization Deductions") paid or to be paid by Owner in connection with this Lease at a rate no less rapid than straight line over the Lease Term.
(ii) For the purposes of this Subsection 11 (b) only, the term "Owner" shall include the "common parent" and all other corporations included in the affiliated group, within the meaning of Section 1504 of the Code (or any other successor section thereto), of which Owner is or becomes a member.
Special Tax Provisions. 3.1 Section 83(b) Election. Individual understands that under Section 83 of the Internal Revenue Code of 1986, as amended (the "Code"), the excess of the fair market value of the Shares on the date any forfeiture restrictions applicable to such Shares lapse over the Purchase Price for such Shares will be reportable as ordinary income on such lapse date. For this purpose, the term "forfeiture restrictions" includes the right of the Corporation to repurchase the Shares pursuant to the Repurchase Right provided under Article 5 of this Agreement. Individual understands that he/she may elect under Section 83(b) of the Code to be taxed at the time the Shares are acquired hereunder, rather than when and as such Shares cease to be subject to such forfeiture restrictions. Such election must be filed with the Internal Revenue Service within thirty (30) days after the date of this Agreement. Even if the fair market value of the Shares on the date of this Agreement equals the Purchase Price paid (and thus no tax is payable), the election must be made to avoid adverse tax consequences in the future. The form for making this election is attached as Exhibit B hereto. Individual understands that failure to make this filing within the thirty (30)-day period will result in the recognition of ordinary income by Individual as the forfeiture restrictions lapse.
3.2 INDIVIDUAL ACKNOWLEDGES THAT IT IS INDIVIDUAL'S SOLE RESPONSIBILITY, AND NOT THE CORPORATION'S, TO FILE A TIMELY ELECTION UNDER SECTION 83(b), EVEN IF INDIVIDUAL REQUESTS THE CORPORATION OR ITS REPRESENTATIVES TO MAKE THIS FILING ON HIS/HER BEHALF. This filing should be made by registered or certified mail, return receipt requested, and Individual must retain two (2) copies of the completed form for filing with his/her state and Federal tax returns for the current tax year and an additional copy for his/her personal records.
Special Tax Provisions. Under certain circumstances, the accelerated vesting, cash-out or accelerated lapse of restrictions on awards in connection with a change in control of the Company might be deemed an “excess parachute payment” for purposes of the golden parachute tax provisions of Code section 280G, and the participant may be subject to a 20% excise tax and the Company may be denied a tax deduction.
Special Tax Provisions. Under certain circumstances, the accelerated vesting, cash-out or accelerated lapse of restrictions on awards in connection with a change in control of the Company might be deemed an “excess parachute payment” for purposes of the golden parachute tax provisions of Code section 280G, and the participant may be subject to a 20% excise tax and the Company may be denied a tax deduction. Furthermore, the Company may not be able to deduct the aggregate compensation in excess of $1,000,000 attributable to awards that are not performance-based” within the meaning of Code section 162(m) in certain circumstances. The 2005 Plan is designed to permit certain awards that qualify as performance-based compensation for this purpose.
Special Tax Provisions. 3.1 Section 83(b)
Special Tax Provisions. Sublicensee or its agents shall be solely responsible for the payment and discharge of any taxes, duties, or withholdings relating to any transaction of Sublicensee or its agents in connection with the manufacture, use, sale or commercialization of the Technology or the Products; except that ECC shall be responsible for taxes, duties or withholding relating to the payment to ECC of any Royalty payment under this Agreement and Sublicensee shall be permitted to perform any withholding with respect to such payments and fees required by law or regulation.
Special Tax Provisions. 12 ARTICLE VIII
Special Tax Provisions. (a) The Members expect and intend that the Company shall be treated as a partnership for all federal income tax purposes and each Member agrees that they (i) will not on any federal, state, local or other tax return take a position, and shall not otherwise assert, inconsistent with such expectation and intent; or (ii) do any act or thing which could cause the Company to be treated as other than a partnership for federal income tax purposes.
Special Tax Provisions. If Participant is a resident of the United Kingdom, then Participant’s “Tax Liability” shall also include Participant’s National Insurance Contributions or any National Insurance Contributions of the Company Group that are attributable to the vesting or distribution of the RSUs or otherwise pursuant to this RSU Agreement. In addition, at the discretion of the Company, the RSUs will not vest until Participant has entered into an election with the Company (or such other member of the Company Group that is Participant’s employer) (as appropriate) in a form approved by the Company and Her Majesty’s Revenue & Customs (a “Joint Election”) under which any liability of the Company Group for the employer’s National Insurance contributions arising in respect of the vesting or distribution of the RSUs, the disposal of any Shares issued pursuant to the distribution of the RSUs or otherwise pursuant to this RSU Agreement is transferred to and met by Participant.
Special Tax Provisions. Subdivision 83A-C of the Income Tax Assessment Act 1997 (Commonwealth of Australia) applies to RSUs granted under the Plan, subject to the requirements of that Act.