Exempt interest definition

Exempt interest means income on obligations of any state other than Minnesota,

Exempt interest means income on obligations of any state other than Minnesota, or a political or governmental subdivision, municipality, or governmental agency or instrumentality of any state other than Minnesota, and exempt from federal income taxes under the Internal Revenue Code or any other federal statute.

Exempt interest means the interest on bonds, debentures, stock, or other securities of the Commonwealth, and includes the interest on any securities issued by a State or by any authority constituted by a law of a State the interest on which is exempted by the law of that State from income tax.

Examples of Exempt interest in a sentence

• Exempt interest dividends paid by a mutual fund to a shareholder and not included in the shareholder’s adjusted gross income shall be added to adjusted gross income to the extent it represents interest on obligations of states, other than North Carolina, and their political subdivisions.

• The Template Description can be defined in text and/or numbers in order to reference the template.

• Exempt interest" means income on obligations of any state other than Minnesota, or a political or governmental subdivision, municipality, or governmental agency or instrumentality of any state other than Minnesota, and exempt from federal income taxes under the Internal Revenue Code or any other federal statute.

• Exempt interest dividends (as defined in section 852(b)(5) of theInternal Revenue Code) on obligations issued by the State of California.

• This is easily seen from Kingman’s representation for (Pi) = (Pi↓).

More Definitions of Exempt interest

Exempt interest means an Interest that is owned by a Special Member.

Exempt interest means any interest owned by the United States, the State of Wyoming, or an Indian tribe.

Exempt interest means interest which is not included in gross income of the recipient thereof for federal income tax purposes under Section 103 of the Code.

Exempt interest means any (a) Membership Interest issued, sold or otherwise Transferred in connection with a public offering or a restructuring of the Company into a different type of entity (such as a conversion into a corporation), (b) Membership Interest issued, sold or otherwise transferred to sellers as consideration in connection with the Company’s or any Subsidiary’s acquisition of all or substantially all of another Person or another Person’s line of business or division, or all or substantially all of a Person’s assets, in any case, by merger, consolidation, stock purchase, asset purchase, recapitalization, or other reorganization, (c) any Incentive Units or options or warrants to acquire Units or Membership Interests, in each case, issued, sold or otherwise Transferred as compensation for services rendered (or to be rendered) to the Company, a Stratcap Fund or subsidiary thereof, (d) up to 3, 250 Series 1 Preferred Units to the Xxxxxz Member or any other Person designated by the Xxxxxz Member in exchange for the $3,250,000 additional funding obligation described in Section 5.1(a), (e) all Units issued on the date hereof that are listed on Schedule 1 and (f) Units and Membership Interests designated as “Exempt Interests” under Section 4.3(e).

Exempt interest means interest which is excludable from gross income of the recipient thereof for federal income tax purposes under Section 103 of the Internal Revenue Code.

Exempt interest means an Interest which is owned by the General Partner or a Special Partner.

Exempt interest means, collectively, (a) Terrxxxx X. Xxxx, xxs spouse, lineal descendants and ascendants, heirs, executors or other legal representatives and any trusts established for the benefit of the foregoing, (b) any company, corporation or other business entity a majority of the outstanding Voting Stock of which is owned beneficially and of record by a Person described in clause (a) of this definition or (c) a Subsidiary of the Parent provided that such Subsidiary shall constitute an Exempt Interest only for so long as a majority of the outstanding Voting Stock is "beneficially owned" (within the meaning of Rule 13d-3 under the Exchange Act), directly or indirectly, by the Parent.