Adjusted Taxable Income of a Member for a Fiscal Year (or portion thereof) with respect to Units held by such Member means the federal taxable income allocated by the Company to the Member with respect to such Units (as adjusted by any final determination in connection with any tax audit or other proceeding) for such Fiscal Year (or portion thereof); provided, that such taxable income shall be computed (i) minus any excess taxable loss or excess taxable credits of the Company for any prior period allocable to such Member with respect to such Units that were not previously taken into account for purposes of determining such Member’s Adjusted Taxable Income in a prior Fiscal Year to the extent such loss or credit would be available under the Code to offset income of the Member (or, as appropriate, the direct or indirect members of the Member) determined as if the income, loss, and credits from the Company were the only income, loss, and credits of the Member (or, as appropriate, the direct or indirect members of the Member) in such Fiscal Year and all prior Fiscal Years, and (ii) taking into account any special basis adjustment with respect to such Member resulting from an election by the Company under Code Section 754.
Adjusted Taxable Income means taxable income calculated before applying this section—
Adjusted Taxable Income means, for a Fiscal Year, Fiscal Quarter or other period, the federal taxable income allocated by the Company to the Member for such Fiscal Year, Fiscal Quarter or other period; provided, that such taxable income shall be computed by taking into account any special basis adjustment with respect to such Member resulting from an election by the Company under Code Section 754.
Examples of Adjusted Taxable Income in a sentence
We use Adjusted Taxable Income, Net of Current Tax Expense to measure and evaluate our operations.
Any subsequent revaluation of the properties will not affect the forecast and projected DPU for the Forecast Year 2011/2012 as MIT’s distribution are based on Adjusted Taxable Income, which excludes gains or losses upon revaluation of the Properties.
The income thresholds increase incrementally, as does the MLS itself, depending on your annual household Adjusted Taxable Income (ATI).For a full rundown of how the MLS works, along with the current ATI thresholds, visit hif.com.au/mlsDid you know…If you’re likely to incur the MLS, it could be more cost effective to take out HIF Hospital cover – a number of our covers could actually be cheaper than the additional tax you’ll have to pay.
Adjusted Taxable Income, Net of Current Tax Expense is defined as reported net income, adjusted for book versus tax timing differences and special items.
In the event that the proportion of the Company's Adjusted Taxable Income allocable to a Member is greater than the proportion of the Company's Net Profit or Net Loss allocable to the Member for the same period, the Tax Distributions to such Member shall reflect the Adjusted Taxable Income allocable to that Member and the Tax Distributions to the other Members shall be adjusted so that Tax Distributions under this Section 7.2.1 are made in proportion to Unit ownership.
More Definitions of Adjusted Taxable Income
Adjusted Taxable Income of a Unitholder for a Fiscal Year (or portion thereof) with respect to Units held by such Unitholder means the federal taxable income allocated by the Company to the Unitholder with respect to such Units (as adjusted by any final determination in connection with any tax audit or other proceeding) for such Fiscal Year (or portion thereof); provided that such taxable income (or alternative minimum taxable income, as the case may be) shall be computed (i) as if all excess taxable losses and excess taxable credits allocated with respect to such Units were carried forward (taking into account the character of any such loss carryforward as capital or ordinary), and (ii) taking into account any special basis adjustment with respect to such Unitholder resulting from an election by the Company under Code Section 754.
Adjusted Taxable Income means, with respect to each Partner for a Fiscal Year, (a) the cumulative U.S. federal taxable income allocated to such Partner with respect to its Units for such Fiscal Year, less (b) any losses from prior Fiscal Years to the extent such prior losses are of a character that would permit such losses to be deducted against the U.S. federal taxable income of such Partner for the current Fiscal Year and have not been previously taken into account pursuant to this clause (b).
Adjusted Taxable Income means the Company's cumulative items of income or gain less cumulative items of loss or deduction under the Code, computed from the Effective Date through the date such Adjusted Taxable Income is being computed, except that gain or loss from a Sale of the Company.
Adjusted Taxable Income means taxable income—
Adjusted Taxable Income of a Member for a Fiscal Year (or portion thereof) with respect to the Units held by such Member means the excess, if any, of (a) the product of (i) the federal taxable income of the Company (as adjusted by any final determination in connection with any tax audit or other proceeding) for such Fiscal Year (or portion thereof), and (ii) such Member’s Percentage Interest with respect to all outstanding Units at the end of the applicable calendar quarter over any excess taxable loss or excess taxable credits of the Company for any prior period that were not previously taken into account for purposes of determining such Member’s Adjusted Taxable Income in a prior Fiscal Year to the extent such loss or credit would be available under the Code to offset income of the Member (or, as appropriate, the direct or indirect owners of the Member) determined as if the income, loss, and credits from the Company were the only income, loss, and credits of the Member (or, as appropriate, the direct or indirect members of the Member) in such Fiscal Year and all prior Fiscal Years. For the avoidance of doubt, the federal taxable income of the Company in clause (a)(i) of this definition shall be the same for all Members and shall not take into account (x) any special basis adjustment with respect to such Member resulting from an election by the Company under Code Section 754, (y) any special allocations made to a Member under Section 5.02 or (z) any income or gain, and associated curative or remedial allocations specially allocated to a Member under Code Section 704(c).
Adjusted Taxable Income means taxable income calculated before applying this section and before setting off any balance of assessed loss
Adjusted Taxable Income means LLC Taxable Income; provided, however, that if the HSNi Group has a net taxable loss for federal income tax purposes for a taxable year, LLC Taxable Income shall be reduced (but not below zero) by an amount equal to the net tax loss of the HSNi Group for federal income tax purposes for such year divided by one minus the Ratio; provided, however, that if such net tax loss of the HSNi Group exceeds the Loss Limit, then any net tax loss in excess of the Loss Limit shall be taken into account in determining the HSNi Group's taxable income for purposes of this provision for the subsequent years and, provided, further, that if the HSNi Group has net taxable income for federal income tax purposes for the year (taking into account any prior year net loss in excess of the Loss Limit), for this purpose LLC Taxable Income shall be increased by the product of (a) any net income of the HSNi Group for the year and (b) a fraction, the numerator of which is one and the denominator of which is one minus the Ratio (such net income to be taken into account only to the extent prior year net losses were previously taken into account in calculation of Adjusted Taxable Income hereunder and not previously offset by inclusions of prior year net income of the HSNi Group).