Actual Tax Credit definition

Actual Tax Credit means as of any point in time, the total amount of the LIHTC actually allocated by the Partnership to the Limited Partner and not subsequently recaptured or disallowed, representing 99.98% of the LIHTC actually received by the Partnership, as shown on the applicable tax returns of the Partnership.
Sample 1Sample 2Sample 3
Actual Tax Credit means as of any point in time, the total amount of the Tax Credits actually allocated by the Partnership to the Limited Partner and not subsequently recaptured or disallowed, representing 99.98% of the LIHTC and Georgia Credits actually received by the Partnership, as shown on the applicable tax returns of the Partnership.
Sample 1Sample 2Sample 3
Actual Tax Credit means as of any point in time, the total amount of the LIHTC actually allocated by the Company to the Investor Member and the Special Member, representing ninety-nine and 99/100th percent (99.99%) of the LIHTCs actually received by the Company, as shown on the applicable tax return of the Company.
Sample 1

Examples of Actual Tax Credit in a sentence

  • The Class B Limited Partner shall require the Accountants to make their determination of the amount of the Actual Tax Credit with respect to each year of the Credit Period within thirty (30) days following the end of such Fiscal Year.


More Definitions of Actual Tax Credit

Actual Tax Credit means, as of any point in time, for Kingsfield Apartments, Xxxxxx Family Apartments, or Westridge Apartments, the total amount of the LIHTC actually allocated by the Partnership to the Limited Partner and not subsequently recaptured or disallowed, representing 99.98% of the LIHTC actually received by the Partnership, as shown on the applicable tax returns of the Partnership.
Sample 1
Actual Tax Credit means, with respect to any Fiscal Year, the total amount of Tax Credit properly reported and available to be claimed by the Partnership and the ILP on the respective federal information and income tax returns for that Fiscal Year, and allowed to the Partnership and the ILP, taking into account any adjustments thereto by the Internal Revenue Service. Additional Credit shall have the meaning set forth in Section 3.5(c). Adjustment Amount shall have the meaning described in Section 3.5.
Sample 1

Related to Actual Tax Credit

  • Input Tax Credit means the credit of input tax;

  • Actual Tax Liability means, with respect to any Taxable Year, the liability for Covered Taxes of the Corporation (a) appearing on Tax Returns of the Corporation for such Taxable Year and (b) if applicable, determined in accordance with a Determination (including interest imposed in respect thereof under applicable law).

  • child tax credit means a child tax credit under section 8 of the Tax Credits Act 2002;

  • council tax benefit means council tax benefit under Part 7 of the SSCBA; “couple” has the meaning given by paragraph 4;

  • Tax Credit means a credit against, relief or remission for, or repayment of any Tax.

  • Special Tax means the special tax to be levied in each Fiscal Year on each Assessor’s Parcel of Taxable Property to fund the Special Tax Requirement.

  • Production Tax Credit or “PTC” means the tax credit for electricity produced from certain renewable generation resources described in Section 45 of the Internal Revenue Code of 1986, as it may be amended or supplemented from time to time.

  • Transaction Payroll Taxes means the employer portion of any employment or payroll Taxes with respect to any bonuses, severance, option cashouts, Change in Control Payments or other compensatory payments in connection with the transactions contemplated by this Agreement, whether payable by Buyer, the Company or its Subsidiaries.

  • Final Tax Amount has the meaning set forth in Section 4.01(b)(ii).

  • Tax Revenue means, with respect to the Project Area, (a) those tax revenues referred to (1) in the last sentence of the first paragraph of Article VIII, Section 12 of the Constitution of the State and (2) in Section 18-2147, Reissue Revised Statutes of Nebraska, as amended, and (b) all payments made in lieu thereof.

  • Recovered tax increment value means, except as otherwise

  • maximum council tax reduction amount means the amount determined in accordance with paragraph 29;

  • Special Taxes means any and all present or future taxes, levies, imposts, deductions, charges or withholdings, or any liabilities with respect thereto, including those arising after the date hereof as result of the adoption of or any change in law, treaty, rule, regulation, guideline or determination of a Governmental Authority or any change in the interpretation or application thereof by a Governmental Authority but excluding, in the case of Lender, such taxes (including income taxes, franchise taxes and branch profit taxes) as are imposed on or measured by Lender’s net income by the United States of America or any Governmental Authority of the jurisdiction under the laws under which Lender is organized or maintains a lending office.

  • Base Tax Year means the property tax levy year used

  • Pre-Tax Income means income, as determined by GAAP, prior to deduction of the Bonus Pool (as hereinafter defined) and income taxes, and if applicable, after the deduction of any bonus pool of a future officer bonus plan adopted by the Company relating to an applicable Award Year and adjustments approved by the Board as described herein.

  • Local taxes means all taxes levied other than taxes levied for school operating purposes.

  • Net Tax Benefit has the meaning set forth in Section 3.1(b) of this Agreement.

  • Hypothetical Tax Liability means, with respect to any Taxable Year, the liability for Taxes of the Corporation (or the Partnerships, but only with respect to Taxes imposed on the Partnerships and allocable to the Corporation) using the same methods, elections, conventions and similar practices used on the relevant Corporation Return but using the Non-Stepped Up Tax Basis instead of the tax basis reflecting the Basis Adjustments of the Adjusted Assets and excluding any deduction attributable to Imputed Interest.

  • Maximum Special Tax means the maximum Special Tax, determined in accordance with Section C below, that can be levied in any Fiscal Year on any Assessor’s Parcel.

  • input tax , in relation to a vendor, means—

  • Tax Revenues means the Personal Income Taxes and such other revenues, including Alternative Revenues (but excluding Building Aid), as the Authority may derive directly from the State from taxes imposed by the City or the State and collected by the State.

  • Annual Special Tax means the Special Tax actually levied in any Fiscal Year on any Assessor’s Parcel.

  • Sales Tax Revenues means taxes collected under the Virginia Retail Sales and Use Tax Act

  • alternative maximum council tax reduction means the amount determined in accordance with paragraph 31 and Schedule 4;

  • central tax means the central goods and services tax levied under section 9 of the Central Goods and Services Tax Act;

  • Assigned Annual Special Tax means the Special Tax of that name described in Section D.