Estimated Tax Amount definition

Estimated Tax Amount of a Member for a Fiscal Year means the Member’s Tax Amount for such Fiscal Year as estimated in good faith from time to time by the Board. In making such estimate, the Board shall take into account amounts shown on Internal Revenue Service Form 1065 filed by the Company and similar state or local forms filed by the Company for the preceding taxable year and such other adjustments as in the reasonable business judgment of the Board are necessary or appropriate to reflect the estimated operations of the Company for the Fiscal Year.

Estimated Tax Amount of a Member for a Fiscal Year means the Member’s Tax Amount for such Fiscal Year as estimated in good faith from time to time by the Manager. In making such estimate, the Manager shall take into account amounts shown on Internal Revenue Service Form 1065 filed by the Company and similar state or local forms filed by the Company for the preceding taxable year and such other adjustments as the Manager reasonably determines are necessary or appropriate to reflect the estimated operations of the Company for the Fiscal Year.

Estimated Tax Amount means, with respect to any Member for any fiscal year, the excess, if any, of (a) the cumulative assumed tax liability of such Member as of such fiscal year (as determined by the Manager), over (b) the amount of distributions made to such Member pursuant to Section 4.4(c) of the LLC Agreement during such fiscal year and all prior fiscal years plus the amount of distributions made to such Member pursuant to Section 4.8 of the LLC Agreement with respect to all prior fiscal years.

Examples of Estimated Tax Amount in a sentence

• If the amount of the real estate taxes is greater than the estimated amount, the Landlord shall promptly notify the Tenant in writing of the difference between the actual tax and the Estimated Tax Amount paid to the Landlord.

• At Closing, Sellers or Purchaser shall receive a credit, as applicable, equal to the difference between (i) the Total Actual Tax Amount or the Total Estimated Tax Amount, as applicable, divided by three hundred sixty-five (365) and multiplied by the number of days in the calendar year of Closing prior to the Adjustment Date, less (ii) if made, any Seller Tax Payment.

• If such real estate taxes are payable after the expiration of the Term, the Tenant shall pay to the Landlord Estimated Tax Amount which represents the estimated amount of real estate tax that will be payable on the leased premises for the Term.

• Subject to any restrictions in the Company’s financing arrangements, if any, at least five (5) days before each date prescribed by the Code for a calendar-year corporation to pay quarterly installments of estimated tax, (i.e., December 15th, March 15th, June 15th and September 15th), the Company shall use commercially reasonable efforts to Distribute cash to each Member in an amount equal to its Estimated Tax Amount.

• Estimated Tax Amount (if real estate taxes are payable after the end of the Term): $ Interest Rate (if the Tenant fails to reimburse the Landlord as required by this Paragraph): $ The Tenant shall pay real estate taxes levied on the leased premises for the Term imposed by the municipality in which the leased premises is located as a result of the Tenant’s use of the leased premises, whether or not such taxes are actually payable during the Term.

More Definitions of Estimated Tax Amount

Estimated Tax Amount of a Limited Partner for a Fiscal Year means the Limited Partner’s Tax Amount for such Fiscal Year as estimated in good faith from time to time by the Board. In making such estimate, the Board shall take into account amounts shown on Internal Revenue Service Form 1065 filed by the Partnership and similar state or local forms filed by the Partnership for the preceding taxable year and such other adjustments as in the reasonable business judgment of the Board are necessary or appropriate to reflect the estimated operations of the Partnership for the Fiscal Year.

Estimated Tax Amount means, with respect to each Member, the amount equal to the highest statutory marginal tax rate for corporations imposed by applicable federal income tax laws for a given tax year multiplied by the Profits allocated to such Member for such taxable year as shown on the Company’s U.S. federal income tax return.

Estimated Tax Amount means, with respect to any Member for any fiscal year, the excess, if any, of (a) the cumulative assumed tax liability of such Member as of such fiscal year (as determined by the Manager), over (b) the amount of distributions made to such Member pursuant to Section 4.4(c) during such fiscal year and all prior fiscal years plus the amount of distributions made to such Member pursuant to Section 4.8 with respect to all prior fiscal years.

Estimated Tax Amount of a Unitholder for a Fiscal Year means the Unitholder’s Tax Amount for such Fiscal Year as estimated in good faith from time to time by the Board. In making such estimate, the Board shall take into account amounts shown on Internal Revenue Service Form 1065 filed by the Company and similar state or local forms filed by the Company for the preceding taxable year and such other adjustments as in the reasonable business judgment of the Board are necessary or appropriate to reflect the estimated operations of the Company for the Fiscal Year.

Estimated Tax Amount has the meaning set forth in Section 5.3 hereof.

Estimated Tax Amount of a Member for a fiscal quarter means the estimated tax for such quarter of the Member, who after accounting for tax allocations pursuant to § 6.3, will be allocated the highest level of the Company’s taxable income, as estimated in good faith from time to time by the Board. That is, notwithstanding different amounts of taxable income allocated to Members as a result of special allocations of income and/or expenses, the Estimated Tax Amount for each Member will be the same, including in the same proportions, for purposes of Distributions for tax purposes pursuant to § 7.2. In making such estimate, the Board shall make such adjustments as in the reasonable business judgment of the Board are necessary or appropriate to reflect the estimated operations of the Company for the applicable Fiscal Year and the income allocation and the application of the highest marginal federal and state income tax percentages of the Member with the most taxable income of the Company allocated to it per Unit.

Estimated Tax Amount means, with respect to each Party, an amount equal to the sum of the highest marginal federal and state (taking into consideration only those states in which Development and its Subsidiaries conduct business) income tax rate applicable to corporations or individuals, whichever is higher, multiplied by the income and gain (net of any cumulative tax benefits produced for the Parties by Development’s losses, deductions, and credits), if any, allocated to each Party with respect to the relevant period.