Applicable Income Tax Rate means a rate equal to the sum of (i) the highest marginal Federal income tax rate applicable to an individual who is a citizen of the United States plus (ii) an amount equal to the sum of the highest marginal state and local income tax rates applicable to an individual who is a resident of the State of New York, multiplied by a factor equal to 1 minus the rate described in clause (i) above.
Applicable Income Tax Rate means, with respect to any individual who is a resident in the State of Nevada for any period, the highest effective combined United States federal, state and local income tax applicable during such period.
Examples of Applicable Income Tax Rate in a sentence
Each Stockholder shall also promptly advise the Corporation of any changes in the Stockholder's circumstance which would change the Applicable Income Tax Rate and the Applicable Capital Gain Tax Rate.
More Definitions of Applicable Income Tax Rate
Applicable Income Tax Rate means an amount equal to the sum of (a) the highest marginal Federal income tax rate applicable to an individual, plus (b) an amount equal to the sum of the highest marginal state and local income tax rates applicable to any individual resident in New York, New York multiplied by a factor equal to 1 minus such highest marginal Federal income tax rate.
Applicable Income Tax Rate means the highest marginal individual Federal income tax rate imposed on ordinary income plus the highest marginal individual California income tax rate; PROVIDED, HOWEVER, that the highest marginal individual California income tax rate shall be appropriately reduced to reflect the deductibility of such taxes from Federal taxable income.
Applicable Income Tax Rate in respect of the Corporation or any Subsidiary shall mean for each such entity calculated separately, an amount equal to the sum of (i) the highest marginal Federal income tax rate applicable to any Stockholder plus (ii) an amount equal to
Applicable Income Tax Rate means a rate equal to the sum of (i) the highest marginal Federal income tax rate applicable to an individual who is a citizen of the United States plus (ii) an amount equal to the sum of the highest marginal state and local income tax rates applicable to an individual who is a resident of the State of New York, multiplied by a factor equal to 1 minus the rate described in clause (i) above. In no event shall the Applicable Income Tax Rate exceed the greater of (1) the highest aggregate applicable effective marginal rate of Federal, state and local income tax to which an individual resident of the State of New York would be subject in the relevant year of determination (as certified to the Agent by a nationally recognized tax accounting firm) plus 5% and (2) 60%.
Applicable Income Tax Rate in respect of each of Company or any of its Subsidiaries means for each such entity calculated separately, an amount equal to the sum of (i) the highest marginal Federal income tax rate applicable to any Equity Holder of Company plus (ii) an amount equal to the sum of the highest marginal state and local income tax rates applicable to any Equity Holder of Company multiplied by a factor equal to 1 minus such highest marginal Federal income tax rate.
Applicable Income Tax Rate means a rate equal to the sum of (a) the highest marginal Federal ordinary income tax rate applicable to an individual who is a citizen of the United States plus (b) the greater of (i) an amount equal to the sum of the highest marginal state and local ordinary income tax rates applicable to an individual who is a resident of the State of California and (ii) an amount equal to the sum of the highest marginal state and local ordinary income tax rates applicable to an individual who is a resident of the State of Iowa, multiplied by a factor equal to 1 minus such highest marginal federal income tax rate described in (a) above.
Applicable Income Tax Rate means, for any taxable period, the highest effective combined individual United States federal, Nevada or Florida state and local income tax applicable during such period.