Composite Taxes definition

Composite Taxes means any state or local income Taxes to be paid or remitted by the Companies on behalf of its stockholders or other Persons under any Composite Return, but shall not include any state or local Taxes on corporate income, capital, profits, gross receipts, property, franchise, etc. where the Companies, not the Seller, bears the real incidence of tax.
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Composite Taxes has the meaning set forth in Section 3.24(a)(ii).
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Composite Taxes means composite income taxes paid by the Company on behalf of the Sellers in any state in lieu of Sellers filing a nonresident Tax Return in such state.
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Examples of Composite Taxes in a sentence

  • Notwithstanding the foregoing, Sellers’ Representative will prepare or cause to be prepared all income Tax Returns of the Company filed or required to be filed after the Closing Date (including any amended Tax Returns and Tax Returns on IRS Form 1120-S (or comparable applicable state or local form) and all Tax Returns in respect of Composite Taxes for each applicable state) for all Pre-Closing Tax Periods (“Income Tax Returns”).

  • Deltek shall timely pay all Taxes shown due with respect to Tax Returns filed after the Closing Date and shall be entitled to receive reimbursement for such Taxes which are Shareholders’ Taxes within two (2) days of the payment thereof (such payment to be by wire transfer to the account of Deltek); provided that reimbursement for any Composite Taxes shall be made immediately out of the Escrow to the extent provided in Section 9.2(b)(iii).

  • Deltek has obtained from each shareholder who has been, or will be, included in a Composite Tax Return an authorization to file the Composite Tax Return and to pay Composite Taxes on behalf of such shareholder.


More Definitions of Composite Taxes

Composite Taxes means all state and local withholding Taxes, income Taxes, and estimated Taxes required to be paid or actually paid by Deltek, in each case on behalf of its Shareholders in their capacity as such (and not with respect to wages) in respect of income of Deltek and its Subsidiaries for tax periods ending on or before Closing.
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Composite Taxes means any taxes assessed against or customarily paid by the Partnership.
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