Applicable Tax Percentage means the highest effective marginal combined rate of Federal, state, and local income taxes (taking into account the deductibility of state and local taxes for Federal income tax purposes) to which any Person holding Equity Interests of a Credit Party would be subject in the relevant year of determination, taking into account only such Person’s share of income and deductions attributable to its equity ownership interest in such Credit Party.
Applicable Tax Percentage means the highest effective marginal combined U.S. federal, state and local income tax rate for a fiscal year prescribed for an individual resident in New York, New York (taking into account (a) the deductibility of state and local income taxes for U.S. federal income tax purposes, assuming the limitation described in Section 68(a)(2) of the Code applies, (b) the nondeductiblity of other expenses subject to the limitation described in Section 67(a) of the Code applies and (c) the character (e.g., long-term or short-term capital gain or ordinary or exempt income) of the applicable income). For the avoidance of doubt, the Applicable Tax Percentage will be the same for all Partners.
Applicable Tax Percentage means the highest effective marginal combined rate of federal, state and local income taxes (taking into account the deductibility of state and local taxes for federal income tax purposes) to which any Person holding voting Equity Interests of any Borrowers would be subject in the relevant year of determination, taking into account only such Person’s share of income and deductions attributable to its equity ownership interest in such Borrowers.
Examples of Applicable Tax Percentage in a sentence
The Tax Distributions with respect to any taxable year shall be computed based upon the General Partner’s estimate of the Net Taxable Income, multiplied by the Applicable Tax Percentage (the “Tax Amount”) and shall only be paid to the extent previous distributions pursuant to Section 7.1 during such taxable year are insufficient to cover the Tax Amount for such taxable year.
The Tax Distributions with respect to any taxable year shall be computed based upon the General Partner’s estimate of the Net Taxable Income, multiplied by the Applicable Tax Percentage (the “Tax Amount”) and shall be paid only to the extent previous distributions pursuant to Section 7.1 with respect to such taxable year are insufficient to cover the Tax Amount for such taxable year.
On or before March 31, 2005, the Company shall make a payment to each Stockholder equal to the excess of (i) the product of (x) the Applicable Tax Percentage and (y) the net income of the Company as determined by reference to the Company’s Internal Revenue Service Form 1120S the Short S Taxable Year, over (ii) any prior distributions made to such Stockholder by the Company with respect to such net income.
More Definitions of Applicable Tax Percentage
Applicable Tax Percentage means the greater of (i) the highest effective marginal combined rate of federal, state, and local income taxes for an individual, and (ii) the highest effective marginal combined rate of federal, state and local income taxes applicable to a corporation.
Applicable Tax Percentage means the highest effective marginal combined rate of federal, state and local income taxes (taking into account the deductibility of state and local taxes for federal income tax purposes) that an individual residing in New York, New York would be subject in the relevant year of determination, taking into account only such shareholder's share of income and deductions attributable to its equity ownership interest in the Company.
Applicable Tax Percentage means 22% with respect to any person identified as a “Founder” on Exhibit A hereto, and 45% with respect to any holder of SiteScout Registrable Securities that is listed on Exhibit A hereto and not so identified as a “Founder.”
Applicable Tax Percentage means the highest aggregate effective marginal rate of federal, state and local income taxes to which any stockholder of a Person that qualifies as an "S" corporation within the meaning of Section 1361 of the Code would be subject in the relevant year of determination, taking into account only such stockholder's share of income and deductions attributable to its interest in such Person.
Applicable Tax Percentage means, as of the applicable date or time period, the percentage equal to the sum of the highest percentage Federal income tax rate then in effect applicable to REIT (provided that Borrower has first provided to Agent evidence satisfactory to Agent of such rate). Notwithstanding the foregoing, in the event that the IPO Conditions Satisfaction Date shall have occurred, the provisions of this §8.7(a) limiting Distributions based on Taxable Net Income shall no longer be applicable; provided that Borrower shall remain obligated to report and demonstrate compliance with this §8.7
Applicable Tax Percentage means the highest aggregate effective marginal rate of federal, state and local income tax or, when applicable, alternative minimum tax, to which any Stockholder subject to the highest marginal rate of tax would be subject in the relevant taxable period of determination, taking into account only that Stockholder’s share of income and deductions attributable to their interest in the Company and/or Interface, as applicable, during such relevant taxable period. For the avoidance of doubt, the determination of the Applicable Tax Percentage shall take into account any difference in the applicable rate of federal, state and local income tax attributable to the character each relevant income item (such as capital gain as opposed to ordinary income).
Applicable Tax Percentage means the highest aggregate effective marginal rate of federal, state and local income tax or, when applicable, alternative minimum tax (after giving effect to deductibility of state and local taxes and the tax rate applicable to ordinary income and to capital gains, as the case may be) to which any direct or indirect member or S corporation shareholder of Borrower or the Junior Lender (if an Affiliate of Borrower), as applicable, subject to the highest marginal rate of tax would be subject in the relevant year of determination (as certified to the Syndication Agent by a nationally recognized tax accounting firm), taking into account only that member's or S corporation shareholder's share of income and deductions attributable to its interest in Borrower or such Junior Lender, as applicable.