Taxable Period Clause Samples
The 'Taxable Period' clause defines the specific timeframe during which tax obligations or liabilities are assessed for the purposes of the agreement. Typically, this period aligns with a fiscal year, calendar year, or another agreed-upon interval, and it determines when income, expenses, or transactions are considered for tax reporting. By clearly establishing the relevant period for tax calculations, this clause ensures both parties understand their responsibilities and helps prevent disputes over which taxes apply to which transactions.
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Taxable Period. References to “taxable period” for any franchise or other doing business Tax (including, but not limited to, the Texas franchise Tax) shall mean the taxable period during which the income, operations, assets or capital comprising the base of such Tax is measured, regardless of whether the right to do business for another taxable period is obtained by the payment of such Tax.
Taxable Period. For purposes of this Section 8, in the case of any Taxes that are imposed on a periodic basis and are payable for a taxable period that includes (but does not end on) the Closing Date, the portion of such Tax which relates to the portion of such taxable period ending on the Closing Date will (i) in the case of any Taxes other than Taxes based upon or related to income or receipts, be deemed to be the amount of such Tax for the entire taxable period multiplied by a fraction, the numerator of which will be the number of days in the taxable period ending on the Closing Date and the denominator of which will be the number of days in the entire taxable period, and (ii) in the case of any Tax based upon or related to income or receipts, be deemed equal to the amount that would be payable if the relevant taxable period ended at the close of business on the Closing Date.
Taxable Period. If the Company and its Subsidiaries are permitted under any applicable foreign, state or local income tax law to treat the Closing Date as the last day of a taxable period, the Seller and Purchaser shall treat (and cause their respective Affiliates to treat) the Closing Date as the last day of a taxable period. For all purposes under this Agreement, in the case of Taxes that are payable with respect to any Straddle Period, the portion of any such Tax that is allocable to the portion of the period ending on the close of the Closing Date shall be (i) in the case of Taxes that are (x) based upon or related to income or receipts, (y) imposed in connection with the sale or other transfer or assignment of property (real or personal, tangible or intangible), (z) employment, social security or other similar taxes, deemed equal to the amount which would be payable if the taxable year ended on the Closing Date; and (ii) in the case of Taxes imposed on a periodic basis with respect to any assets or otherwise measured by the level of any item, deemed to be the amount of such Taxes for the entire period (or, in the case of such Taxes determined on an arrears basis, the amount of such Taxes for the immediately preceding period) multiplied by a fraction the numerator of which is the number of calendar days in the period ending on the Closing Date and the denominator of which is the number of calendar days in the entire period.
Taxable Period. The term ‘‘taxable period’’ means, with re- spect to any taxable expenditure, the period beginning with the date on which the taxable expenditure occurs and ending on the earlier of—
(A) the date of mailing a notice of defi- ciency with respect to the tax imposed by subsection (a)(1) under section 6212, or
(B) the date on which the tax imposed by subsection (a)(1) is assessed. (Added Pub. L. 95–227, § 4(c)(1), Feb. 10, 1978, 92
Taxable Period. If the Corporation or any of its Subsidiaries is permitted under any applicable foreign, state or local income Tax Law to treat the Closing Date as the last day of a taxable period, the Shareholders and Buyer shall treat (and cause their respective Affiliates to treat) the Closing Date as the last day of a taxable period. For all purposes under this Agreement, in the case of Taxes that are payable with respect to any Straddle Period, the portion of any such Tax that is allocable to the portion of the period ending on the close of the Closing Date shall be (i) in the case of Taxes that are based upon or related to income or receipts, deemed equal to the amount which would be payable if the taxable period ended on the Closing Date; and (ii) in the case of all other Taxes, deemed to be the amount of such Taxes for the entire period multiplied by a fraction, the numerator of which is the number of calendar days in the taxable period ending on the Closing Date and the denominator of which is the number of calendar days in the entire taxable period.
Taxable Period. The Transferring Party is responsible for provision of information to ITS in the year, in which the tax on Dividend Equivalent has to be withheld. ITS is responsible for the tax on Dividend Equivalent, when tax regarding applicable dividend on the Underlying Security has to be withheld, i.e. on the date of dividend payment. The amount of tax is defined based on the amount that had to be calculated at the time of determination of the amount of Dividend Equivalent.
Taxable Period. (a) For the purposes of this Article VIII, in the case of any Taxes that are imposed on a periodic basis and are payable for a taxable period that includes (but does not end on) the Closing Date, the portion of such Tax which relates to the portion of such taxable period ending on the Closing Date will (i) in the case of any Taxes other than Taxes based upon or related to income or receipts, be deemed to be the amount of such Tax for the entire taxable period multiplied by a fraction, the numerator of which will be the number of days in the taxable period ending on the Closing Date and the denominator of which will be the number of days in the entire taxable period, and (ii) in the case of any Tax based upon or related to income or receipts, be deemed equal to the amount that would be payable if the relevant taxable period ended at the Effective Time.
(b) If the Company or any subsidiary is permitted but not required under applicable foreign, state or local tax laws to treat the Closing Date as the last day of a taxable period, Parent and the Company shall treat such day as the last day of a taxable period. The Parent and the Company agree that they will treat the Company and any Subsidiary as if they ceased to be a part of the affiliated group of corporations of which the Company is a member within the meaning of Section 1504 of the Code, and any comparable or similar provision of state, local or foreign laws or regulations, as of the close of business on the Closing Date.