Common use of State and Local Taxes Clause in Contracts

State and Local Taxes. If Nationwide Financial and any Subsidiaries of Nationwide Financial, are eligible, but not required, to file consolidated or combined state or local income or franchise tax returns for any Tax Year, Nationwide Financial shall determine, in its sole discretion, whether to file any such return for such Tax Year. In the event that Nationwide Financial shall elect for any Tax Year so to file consolidated or combined state or local income or franchise tax returns (or in the event that Nationwide Financial shall be required to file such returns), each Subsidiary shall pay to Nationwide Financial an amount equal to the amount of state or local income or franchise tax for such Tax Year that such Subsidiary would pay as a separate corporation. Nationwide Financial shall pay to each Subsidiary the amount of any refunds such Subsidiary would have received from any state or local authority had it filed separate returns for such Tax Year. Principles analogous to those applicable to computations, payments, refunds, elections and adjustments for federal income taxes provided for in this Agreement shall apply to such state and local income and franchise taxes.

State and Local Taxes. If Nationwide Financial and any Subsidiaries of Nationwide Financial--------------------- Nationwide, are eligible, but not required, to file consolidated or combined state or local income or franchise tax returns for any Tax Year, Nationwide Financial shall determine, in its sole discretion, whether to file any such return for such Tax Year. In the event that Nationwide Financial shall elect for any Tax Year so to file consolidated or combined state or local income or franchise tax returns (or in the event that Nationwide Financial shall be required to file such returns), each Subsidiary shall pay to Nationwide Financial an amount equal to the amount of state or local income or franchise tax for such Tax Year that such Subsidiary would pay as a separate corporation. Nationwide Financial shall pay to each Subsidiary the amount of any refunds such Subsidiary would have received from any state or local authority had it filed separate returns for such Tax Year. Principles analogous to those applicable to computations, payments, refunds, elections and adjustments for federal income taxes provided for in this Agreement shall apply to such state and local income and franchise taxes.

State and Local Taxes. If Nationwide Financial Life and any Subsidiaries of Nationwide FinancialLife, are eligible, but not required, to file consolidated or combined state or local income or franchise tax returns for any Tax Year, Nationwide Financial Life shall determine, in its sole discretion, whether to file any such return for such Tax Year. In the event that Nationwide Financial Life shall elect for any Tax Year so to file consolidated or combined state or local income or franchise tax returns (or in the event that Nationwide Financial Life shall be required to file such returns), each Subsidiary shall pay to Nationwide Financial Life an amount equal to the amount of state or local income or franchise tax for such Tax Year that such Subsidiary would pay as a separate corporation. Nationwide Financial Life shall pay to each Subsidiary the amount of any refunds such Subsidiary would have received from any state or local authority had it filed separate returns for such Tax Year. Principles analogous to those applicable to computations, payments, refunds, elections and adjustments for federal income taxes provided for in this Agreement shall apply to such state and local income and franchise taxes.

State and Local Taxes. If Nationwide Financial Provident and any Subsidiaries of Nationwide FinancialProvident, are eligible, but not required, to file consolidated or combined state or local income or franchise tax returns for any Tax Year, Nationwide Financial Provident shall determine, in its sole discretion, whether to file any such return for such Tax Year. In the event that Nationwide Financial Provident shall elect for any Tax Year so to file consolidated or combined state or local income or franchise tax returns (or in the event that Nationwide Financial Provident shall be required to file such returns), each Subsidiary shall pay to Nationwide Financial Provident an amount equal to the amount of state or local income or franchise tax for such Tax Year that such Subsidiary would pay as a separate corporation. Nationwide Financial Provident shall pay to each Subsidiary the amount of any refunds such Subsidiary would have received from any state or local authority had it filed separate returns for such Tax Year. Principles analogous to those applicable to computations, payments, refunds, elections and adjustments for federal income taxes provided for in this Agreement shall apply to such state and local income and franchise taxes.