Deemed Tax Rate definition
Deemed Tax Rate means, with respect to a Fiscal Quarter, the percentage reasonably determined by the Board of Managers to reflect the highest marginal combined federal, state and local income tax rate applicable to individuals or corporations in effect as of the end of such Fiscal Quarter, and shall be applied to all Members regardless of their particular tax status.
Deemed Tax Rate means (i) with respect to a Class A or Class B Unit held by a Limited Partner during a fiscal year, the highest combined federal, state (or provincial) and local statutory tax rate (after taking into account the deductibility of state (or provincial) and local income tax for federal income tax purposes) applicable to any Limited Partner in such fiscal year, and (ii) with respect to a Class D Unit held by a Limited Partner during a fiscal year, the highest combined federal, state (or provincial) and local statutory tax rate (after taking into account the deductibility of state (or provincial) and local income tax for federal income tax purposes) applicable to such Limited Partner (or its direct or indirect owner who is taxable by reason of the Partnership being a partnership) for such fiscal year assuming that such Limited Partner’s only taxable income for such fiscal year consists of the Limited Partner’s allocable share of taxable income from the Partnership plus any guaranteed payments allocable to the Limited Partner (or was received from the Partnership or its Subsidiaries by the Limited Partner or a direct or indirect owner of the Limited Partner) in such fiscal year. In no event, however, shall the Deemed Tax Rate with respect to a Unit for a fiscal year exceed the highest combined tax rate applicable to a Limited Partner residing in the United States for tax purposes in such fiscal year.
Deemed Tax Rate means the highest marginal federal income tax rate and state income tax rate that would apply to an individual residing in St. Louis, Missouri, taking into account the character of the taxable income of the Company.
Examples of Deemed Tax Rate in a sentence
Deemed Tax Rate means the sum of the highest New York and federal individual rates (but adjusting for deductibility of state income taxes).
Deemed Tax Due means the sum of the products of the taxable income or loss of Borrower and the Deemed Tax Rate (the product of a loss and the Deemed Tax Rate being a negative number), for each and every taxable period which falls in the period beginning on May 28, 1998 and ending on the last day of the last period with respect to which tax (including estimated tax) is due.
More Definitions of Deemed Tax Rate
Deemed Tax Rate means the combined, highest U.S. federal, state and local tax rate of an individual (whichever city of residence within the United States or its territories produces the highest of any such rate), taking into account the character of any income, gains, deductions, losses or credits.