Federal Income Tax Benefit definition

Federal Income Tax Benefit means any Tax Benefit with respect to any Federal Income Tax.
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Federal Income Tax Benefit means, with respect to any Carryback Period, the amount determined under Section 5.5(a) of this Agreement.
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Examples of Federal Income Tax Benefit in a sentence

  • In doing so, the amount of any Federal Income Tax Benefit or cost for the taxable period in which the payment is to be made will be based on the indemnified party's best estimate of such amount, which estimate shall be in writing (an "Adjustment Estimate Notice") and shall include an explanation, in reasonable detail, of the facts and assumptions underlying such estimate.

  • STATEMENT OF INCOME (IN THOUSANDS) From Inception, April 15, 1998 Year Ended Until September 30, September 30, ------------- ------------- 1999 1998 ---- ---- REVENUE Interest Income $ 423 $ 337 Equity in Earnings of Columbia Federal Savings Bank 878 334 ------ ------ Total Revenue 1,301 671 GENERAL AND ADMINISTRATIVE EXPENSES 644 373 ------ ------ Net Income Before Income Taxes 657 298 Federal Income Tax Benefit 138 46 ------ ------ NET INCOME $ 795 $ 344 ====== ====== COLUMBIA FINANCIAL OF KENTUCKY, INC.

  • The Federal Income Tax Benefit of a carryback of a Tax Asset shall be considered equal to the greater of (1) the increase in the amount Hewlett- Packard would have paid Agilent or (2) the decrease in the amount Agilent would have paid Hewlett-Packard had the amount of such Tax Asset applied to the Carryback Period arisen in such Carryback Period and the provisions of Sections 3 and 4 of this Agreement applied to such period.

  • Hewlett-Packard agrees to pay to Agilent the ---------- Federal Income Tax Benefit from the use in any Pre-Spinoff Period (the "Carryback Period") of a carryback of any Tax Asset of the Agilent Group from a Post-Distribution Period; provided, however, that if such carryback permanently -------- ------- prevents Hewlett-Packard from using a Tax Asset, Agilent shall reimburse Hewlett-Packard for such payment.

  • Except as otherwise provided in Section 2.04, Federal Income Tax, Federal Income Tax Benefit and Federal Other Tax shall be allocated as follows: (a) Allocation with Respect to Parent Federal Consolidated Income Tax Returns for Pre-Deconsolidation Periods.

  • The Federal Income Tax Benefit of a carryback of a Tax Asset shall be considered equal to the greater of (1) the increase in the amount Hewlett-Packard would have paid Agilent or (2) the decrease in the amount Agilent would have paid Hewlett-Packard had the amount of such Tax Asset applied to the Carryback Period arisen in such Carryback Period and the provisions of Section 3 of this Agreement applied to such period.

  • The Federal Income Tax Benefit of a carryback of a Tax Asset shall be considered equal to the greater of (1) the increase in the amount Hewlett-Packard would have paid Agilent or (2) the decrease in the amount Agilent would have paid Hewlett-Packard had the amount of such Tax Asset applied to the Carryback Period arisen in such Carryback Period and the provisions of Sections 3 and 4 of this Agreement applied to such period.

Related to Federal Income Tax Benefit

  • Federal Income Tax means any Tax imposed by Subtitle A of the Code, and any interest, penalties, additions to tax, or additional amounts in respect of the foregoing.

  • Consolidated federal income tax return means a consolidated return filed for federal income tax purposes pursuant to section 1501 of the Internal Revenue Code.

  • council tax benefit means council tax benefit under Part 7 of the SSCBA; “couple” has the meaning given by paragraph 4;

  • Non-Income Tax Return means any Tax Return relating to Taxes other than Income Taxes.

  • Income Tax Return means any Tax Return relating to Income Taxes.

  • Income Tax Act means the Income Tax Act (Canada), as amended from time to time;

  • Net Tax Benefit has the meaning set forth in Section 3.1(b) of 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.

  • Foreign Income Tax means any Tax imposed by any foreign country or any possession of the United States, or by any political subdivision of any foreign country or United States possession, which is an income tax as defined in Treasury Regulation Section 1.901-2, and any interest, penalties, additions to tax, or additional amounts in respect of the foregoing.

  • Tax Benefit means any refund, credit, or other item that causes reduction in otherwise required liability for Taxes.

  • Federal internal revenue code means the internal revenue code of the United States in effect on the last day of the taxpayer's tax year.

  • Income Tax Returns means all Tax Returns relating to Income Taxes.

  • Unpaid estimated income tax means estimated income tax due but not paid by the date the tax is required to be paid under applicable law.

  • Tax Benefit Payment is defined in Section 3.1(b) of this Agreement.

  • Non-Income Tax means any Tax other than an Income Tax.

  • Income Tax means any federal, state, local, or foreign income tax, including any interest, penalty, or addition thereto, whether disputed or not.

  • Tax Benefits means the net operating loss carryovers, capital loss carryovers, general business credit carryovers, alternative minimum tax credit carryovers and foreign tax credit carryovers, as well as any loss or deduction attributable to a “net unrealized built-in loss” within the meaning of Section 382 of the Code and the Treasury Regulations promulgated thereunder, of the Company or any of its Subsidiaries.

  • Pre-Tax Earnings means the Corporation's earnings before income taxes as reported in the Company's Consolidated Income Statement for each fiscal year of the Performance Period, excluding any non-cash charge incurred in accordance with accounting principles generally accepted in the United States of America (GAAP) for any restricted stock or restricted stock unit awards granted during the Performance Period and all options, restricted stock and other equity compensation granted to Directors during the Performance Period.

  • 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.

  • Excise Tax Act means the Excise Tax Act (Canada);

  • Tax Benefit Schedule is defined in Section 2.02 of this Agreement.

  • Realized Tax Benefit means, for a Taxable Year, the excess, if any, of the Hypothetical Tax Liability over the Actual Tax Liability. If all or a portion of the Actual Tax Liability for the Taxable Year arises as a result of an audit by a Taxing Authority of any Taxable Year, such liability shall not be included in determining the Realized Tax Benefit unless and until there has been a Determination.

  • Post-Distribution Tax Period means a Tax year beginning and ending after the Distribution Date.

  • Presumed Tax Rate means the highest effective marginal statutory combined U.S. federal, state and local income tax rate prescribed for an individual residing in New York City (taking into account (i) the deductibility of state and local income taxes for U.S. federal income tax purposes, assuming the limitation of Section 68(a)(2) of the Code applies and taking into account any impact of Section 68(f) of the Code, and (ii) the character (long-term or short-term capital gain, dividend income or other ordinary income) of the applicable income).

  • Income Taxes means any Tax which is based upon, measured by, or calculated with respect to (i) net income or profits (including, but not limited to, any capital gains, gross receipts, value added or minimum Tax) or (ii) multiple bases (including, but not limited to, corporate franchise, doing business or occupation Taxes) if one or more of the bases upon which such Tax may be based, by which it may be measured, or with respect to which it may be calculated is described in clause (i) of this sentence.

  • Taxable Wage Base means, with respect to any Plan Year, the contribution and benefit base under Section 230 of the Social Security Act at the beginning of such Plan Year.