Excess Profits definition
Examples of Excess Profits in a sentence
Subsection (f) of the Act provides adjustments required to be made in computing the excess-prof- its credit for any taxable year under the Excess Profits Tax Act of 1940 (54 Stat.
Except as described in the immediately preceding sentence, the obligation to pay the Excess Profits Participation shall survive any termination of this Schedule E.
The case involved the Excess Profits Tax, which was designed to prevent wartime profiteering.
In accordance with N.J.S.A. 40A:20-15, if the Net Profits of the Entity shall exceed the Allowable Net Profits in any Excess Profits Accounting Period, then the Entity, within ninety(90) days after the end of the Excess Profits Accounting Period, shall pay such Excess Net Profits to the Township as an additional Annual Service Charge; provided, however, that the Entity may maintain a Reserve as determined pursuant to Section 6.2.
In the event that either no notice of audit is given within said twelve (12) months, or no audit is in fact commenced within eighteen (18) months after receipt of an Annual Excess Profits Statement, such Annual Excess Profits Statement shall be deemed accepted by HPT.