Tax Rate. For purposes of determining the amount of the Gross-Up Payment, the Executive will be deemed to pay federal income taxes at the highest marginal rate of federal income taxation in the calendar year in which the Gross-Up Payment is to be made and applicable state and local income taxes at the highest marginal rate of taxation in the state and locality of the Executive's residence on the Date of Termination, net of the maximum reduction in federal income taxes that would be obtained from deduction of those state and local taxes.
Tax Rate. 1. Tax shall be applied at the standard rate of 5% of the value of the Supply or the value of Imports, unless this Agreement provides for an exemption or the zero-rate on such supplies.
2. Without prejudice to the obligations provided for under this Agreement and the Local Laws, published prices in the local market for Goods and Services must include VAT.
Tax Rate. The Luxury Tax rate shall be 35% in the 1997 and 1998 Contract Years and 34% in the 1999 Contract Year.
Tax Rate. The After-Tax Rate is the percentage that is the remainder after the subtraction from (i) 100 percent of (ii) the marginal tax rate defined in Part I of this Schedule A, but determined as of the date as of which the calculation is being made.
Tax Rate. In consideration of the CITY’s consent to the creation of the DISTIRCT, the DISTRICT agrees that, as a condition to issuing Bonds, the TCEQ order approving a Bond issue (or the accompanying staff memorandum) must contain a finding, made in accordance with the TCEQ’s then-existing rules, that it is feasible for the DISTRICT to sell the Bonds and maintain a projected total tax rate (inclusive of both the debt service portion and the operation and maintenance portion) of not more than $0.60 per $100 in assessed valuation (“TAX RATE LIMIT”). The foregoing shall not be construed as a limitation on the DISTIRCT’s authority to levy an unlimited tax rate, it being understood and acknowledged that the DISTRICT’s Bonds shall be payable from and secured by a pledge of the proceeds of an ad valorem tax, without legal limit as to rate or amount. It is agreed that the TAX RATE LIMIT is sufficient to accomplish the purposes of the DISTRICT, and that the LANDOWNER and the DISTRICT have voluntarily agreed to the TAX RATE LIMIT.
Tax Rate. Tax Rate" means Executive's effective tax rate based upon the combined federal and state and local income, earnings, Medicare and any other tax rates applicable to Executive, net of the reduction in federal income taxes which could be obtained by deduction of such state and local taxes.
Tax Rate. For purposes of determining the Gross Up Amount, you shall be deemed to be taxed at the highest marginal rate under all applicable local, state, federal and foreign income tax laws for the year in which the Gross Up Amount is paid. The Gross Up Amount payable with respect to an Excise Tax shall be paid by the Company coincident with the Payment with respect to which such Excise Tax relates.
Tax Rate. If the Closing shall occur before the tax rate is fixed, the apportionment of real estate taxes shall be upon the basis of the tax rate for the next preceding year applied to the latest assessed valuation, subject to further and final adjustment when the tax rate is fixed for the year in which the Closing takes place. The provisions of this Section shall survive the Closing.
Tax Rate. The "Tax Rate" used to determine the Tax Burden, the Indemnity Payment and the Refund Payment will be determined as the highest combined marginal Federal, State and local income tax rate applicable to an individual who is a resident of jurisdiction in which JQH resides on the relevant date or dates (provided that if the jurisdiction to which the relevant taxable income or gain is allocated or apportioned imposes income tax on a nonresident individual at a higher combined State and local tax rate than the jurisdiction in which JQH resides, such higher combined State and local tax rate shall be used), making proper allowance for the deductibility of State and local income taxes for Federal income tax purposes (if then applicable) but increasing the Federal rate for the effect of any deduction disallowance applied to incomes above a threshold and ignoring the effects of the Federal alternative minimum tax. Where different rates are prescribed for different categories of income these rates shall be applied separately to the separate categories of income.
Tax Rate. The "Tax Rate" for purposes of computing the GUP shall be the sum of the highest marginal federal and state income and employment-related tax rates, including any applicable excise tax rates, applicable to Executive in the year in which the payment under Section 3.1.1 is made.
