Common use of State of Illinois Corporate Income Tax Returns Clause in Contracts

State of Illinois Corporate Income Tax Returns. All State of Illinois corporate income tax returns that may be or are required to be filed by Xxxxxxx for periods beginning on or before the Distribution Date shall be prepared and filed by Xxxxxxx on a unitary group basis and shall include members of the Midas Group. To permit Xxxxxxx to prepare and file such returns, Midas or International shall, for each taxable period for which it is included in the Illinois state income tax return of Xxxxxxx'x unitary group, provide Xxxxxxx with (i) a computation of the Illinois corporate income tax liability of each member of the Midas Group, prepared on both a separate company basis as well as on a unitary basis which includes all members of the Midas Group; (ii) a reconciliation of its separate company Illinois corporate taxable income to its separate taxable income for U.S. federal income tax purposes (as determined pursuant to Section 2.02(a) above); and (iii) the apportionment factors prescribed by Illinois law and all other information necessary or appropriate for the proper apportionment of the unitary group income. Each member of the Midas Group shall use its best efforts to provide Xxxxxxx with the above material on or before the first day of the sixth month following the end of each such period, but in any event such material shall be provided no later than the fifteenth day of such sixth month. Simultaneously with providing the aforesaid material, Midas shall pay to Xxxxxxx the lesser of (x) the aggregate amount of the separate company Illinois tax liability of each member of the Midas Group for each such period, or (y) the Illinois corporate income tax liability as computed above for the Midas Group on a unitary basis, in either case reduced by all estimated payments theretofore made to Xxxxxxx on account of such liability, or if such estimated payments in the aggregate exceed the aggregate Illinois tax liability for the Midas Group, Xxxxxxx shall pay such excess to International within five (5) days of filing by Xxxxxxx of its Illinois corporate income tax return for such period. Anything herein to the contrary notwithstanding, Midas or International on behalf of all of the members of the Midas Group shall make estimated Illinois corporate income tax payments to Xxxxxxx at such time and in such amount as shall permit Xxxxxxx to remit the same to the appropriate authority on a timely basis, but in any event each such payment shall be made within five (5) days of Xxxxxxx'x written demand for the same.

State of Illinois Corporate Income Tax Returns. All State of Illinois corporate income tax returns that may be or are required to be filed by Xxxxxxx for periods beginning on or before the Distribution Date shall be prepared and filed by Xxxxxxx on a unitary group basis and shall include members of the Midas Hussmann Group. To permit Xxxxxxx to prepare and file such returns, Midas International or International Hussmann shall, for each taxable period for which it is included in the Illinois state income tax return of Xxxxxxx'x unitary group, provide Xxxxxxx with (i) a computation of the Illinois corporate income tax liability of each member of the Midas Hussmann Group, prepared on an both a separate company basis as well as on a unitary basis which includes all members of the Midas Hussmann Group; (ii) a reconciliation of its separate company Illinois corporate taxable income to its separate taxable income for U.S. federal income tax purposes (as determined pursuant to Section 2.02(a) above); and (iii) the apportionment factors prescribed by Illinois law and all other information necessary or appropriate for the proper apportionment of the unitary group income. Each member of the Midas Hussmann Group shall use its best efforts to provide Xxxxxxx with the above material on or before the first day of the sixth month following the end of each such period, but in any event such material shall be provided no later than the fifteenth day of such sixth month. Simultaneously with providing the aforesaid material, Midas International shall pay to Xxxxxxx the lesser of (x) the aggregate amount of the separate company Illinois tax liability of each member of the Midas Hussmann Group for each such period, or (y) the Illinois corporate income tax liability as computed above for the Midas Hussmann Group on a unitary basis, in either case reduced by all estimated payments theretofore made to Xxxxxxx on account of such liability, or if such estimated payments in the aggregate exceed the aggregate Illinois tax liability for the Midas Hussmann Group, Xxxxxxx shall pay such excess to International within five (5) days of filing by Xxxxxxx of its Illinois corporate income tax return for such period. Anything herein to the contrary notwithstanding, Midas International or International Hussmann on behalf of all of the members of the Midas Hussmann Group shall make estimated Illinois corporate income tax payments to Xxxxxxx at such time and in such amount as shall permit Xxxxxxx to remit the same to the appropriate authority on a timely basis, but in any event each such payment shall be made within five (5) days of Xxxxxxx'x written demand for the same.

State of Illinois Corporate Income Tax Returns. All State of Illinois corporate income tax returns that may be or are required to be filed by Xxxxxxx for periods beginning on or before the Distribution Date shall be prepared and filed by Xxxxxxx on a unitary group basis and shall include members of the Midas Hussmann Group. To permit Xxxxxxx to prepare and file such returns, Midas International or International Hussmann shall, for each taxable period for which it is included in the Illinois state income tax return of Xxxxxxx'x unitary group, provide Xxxxxxx with (i) a computation of the Illinois corporate income tax liability of each member of the Midas Hussmann Group, prepared on both a separate company basis as well as on a unitary basis which includes all members of the Midas Hussmann Group; (ii) a reconciliation of its separate company Illinois corporate taxable income to its separate taxable income for U.S. federal income tax purposes (as determined pursuant to Section 2.02(a) above); and (iii) the apportionment factors prescribed by Illinois law and all other information necessary or appropriate for the proper apportionment of the unitary group income. Each member of the Midas Hussmann Group shall use its best efforts to provide Xxxxxxx with the above material on or before the first day of the sixth month following the end of each such period, but in any event such material shall be provided no later than the fifteenth day of such sixth month. Simultaneously with providing the aforesaid material, Midas International shall pay to Xxxxxxx the lesser of (x) the aggregate amount of the separate company Illinois tax liability of each member of the Midas Hussmann Group for each such period, or (y) the Illinois corporate income tax liability as computed above for the Midas Hussmann Group on a unitary basis, in either case reduced by all estimated payments theretofore made to Xxxxxxx on account of such liability, or if such estimated payments in the aggregate exceed the aggregate Illinois tax liability for the Midas Hussmann Group, Xxxxxxx shall pay such excess to International within five (5) days of filing by Xxxxxxx of its Illinois corporate income tax return for such period. Anything herein to the contrary notwithstanding, Midas International or International Hussmann on behalf of all of the members of the Midas Hussmann Group shall make estimated Illinois corporate income tax payments to Xxxxxxx at such time and in such amount as shall permit Xxxxxxx to remit the same to the appropriate authority on a timely basis, but in any event each such payment shall be made within five (5) days of Xxxxxxx'x written demand for the same.