Corporate Tax Credit definition

Corporate Tax Credit is a negative separate return tax of a Company for a tax year, equal to the amount by which the consolidated tax is reduced by including a net corporate taxable loss or other net tax benefit of such Company in the consolidated tax return.
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Examples of Corporate Tax Credit in a sentence

  • Ohio Edison owns a 20.00% limited partnership interest in Boston Capital Corporate Tax Credit Fund XIV, a Limited Partnership.

  • Ohio Edison owns a 9.0% limited partnership interest in McDonald Corporate Tax Credit Fund - 1995 Limited Partnership.

  • Ohio Edison owns a 10.93% limited partnership interest in Boston Capital Corporate Tax Credit Fund X, a Limited Partnership.

  • Ohio Edison owns a 12.37% limited partnership interest in McDonald Corporate Tax Credit Fund Limited Partnership.

  • Ohio Edison owns a 2.95% limited partnership interest in Boston Capital Corporate Tax Credit Fund IV, a Limited Partnership.

  • Any subsidiary’s Corporate Tax Credit remaining unused upon completion of the Consolidated Return for the current Consolidated Return Year will be carried forward or carried back consistent with the carryover rules permitted in the Code.

  • To the extent the allocations under Section 3 result in a decrease to the Separate Return Tax or Corporate Tax Credit of any subsidiary, PHI will pay to each such subsidiary such allocated tax benefit on or before the fifteenth day of July, September, December and March of each fiscal year.

  • House Investments - Midwest Corporate Tax Credit Fund, L.P. (3.3975%) - holds investments in 21 separate housing projects located in Illinois and other Midwestern states.

  • Any subsidiary that has a Corporate Tax Credit for a particular taxable period shall receive its allocated tax benefit in accordance with Rule 45(c)(5) from PHI for such period.

  • Further, to the extent the allocations under Section 3 for the entire year result in a decrease to the Separate Return Tax or Corporate Tax Credit of any subsidiary computed each quarter, PHI will pay to each such subsidiary the excess of the annual allocation over the sum of each subsidiary’s quarterly allocation of the consolidated Federal income tax liability on or before the fifteenth day of June immediately following that fiscal year.

Related to Corporate Tax Credit

  • Input Tax Credit means the credit of input tax;

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

  • 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.

  • Base Tax Year means the property tax levy year used

  • Tax Credits means any and all (a) investment tax credits, (b) production tax credits and (c) similar tax credits or grants under federal, state or local law relating to the construction, ownership or production of energy from the System.

  • Corporate Taxpayer has the meaning set forth in the preamble to this Agreement.

  • 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.

  • Total Profit means the aggregate amount (before taxes) of the following: (i) the amount received by Grantee pursuant to Issuer's repurchase of the Option (or any portion thereof) pursuant to Section 7, (ii) (x) the amount received by Grantee pursuant to Issuer's repurchase of Option Shares pursuant to Section 7, less (y) the Grantee's purchase price for such Option Shares, (iii) (x) the net cash amounts received by Grantee pursuant to the sale of Option Shares (or any other securities into which such Option Shares are converted or exchanged) to any unaffiliated party, less (y) the Grantee's purchase price of such Option Shares, (iv) any amounts received by Grantee on the transfer of the Option (or any portion thereof) to any unaffiliated party, and (v) any amount equivalent to the foregoing with respect to the Substitute Option.

  • Income Tax Expense means, with respect to the Borrowers, for any period, the aggregate, without duplication, of all Taxes on the income of such Person for such period, whether current or deferred, determined on a Modified Consolidated Basis.

  • Base Taxes means the Taxes payable for the Base Tax Year.

  • Transaction Payroll Taxes means all employer portion payroll or employment Taxes incurred in connection with any bonuses, option cash-outs or other compensatory payments in connection with the Transactions.

  • Transaction Tax Deductions means any Tax deductions relating to (i) any pay down or satisfaction of Company Indebtedness or other Indebtedness, (ii) the payment or incurrence of any Transaction Expenses or Transaction Bonus Payments and (iii) any other deductible payments attributable to the Contemplated Transactions economically borne by the Seller. For this purpose, any success-based fees shall be treated as deductible in accordance with Rev. Proc. 2011-29.

  • Combined Tax Return means a Tax Return filed in respect of U.S. federal, state, local or non-U.S. income Taxes for a Combined Group, or any other affiliated, consolidated, combined, unitary, fiscal unity or other group basis (including as permitted by Section 1501 of the Code) Tax Return of a Combined Group.

  • UK Tax Deduction means a deduction or withholding for, or on account of, Tax imposed by the United Kingdom from a payment under a Loan Document.