Franchise Tax Liability means any Tax imposed by a state on SM Energy’s or any of its Affiliates’ gross or net income and/or capital for the privilege of engaging in business in that state that was or is attributable to SM Energy’s or any of its Affiliates’ ownership of an interest in the Assets.

Franchise Tax Liability means any tax imposed by a state on Seller’s or any of its Affiliate’s gross or net income and/or capital for the privilege of engaging in business in that state that was or is attributable to Seller’s or any of its Affiliates’ ownership of an interest in the Conveyed Interests.

Franchise Tax Liability means any Tax imposed by a state on SM’s or any of its Affiliates’ gross or net income, gross margin and/or capital for the privilege of engaging in business in that state that was or is attributable to SM’s or any of its Affiliates’ ownership of an interest in the Conveyed Interests.

Examples of Franchise Tax Liability in a sentence

All sales, use or other similar taxes, duties, levies, recording fees or other governmental charges (but, for the avoidance of doubt, not including any Asset Taxes, Franchise Tax Liability, or Income Tax Liability), if any, incurred by or imposed with respect to the property transfers undertaken pursuant to this Agreement (“Subject Transfer Taxes”), if any, shall be the responsibility of, and shall be paid by, the Buyers (in accordance with their respective Proportionate Shares).

More Definitions of Franchise Tax Liability

Franchise Tax Liability means any Liability for Tax imposed by a state on Seller’s or any of its Affiliates’ gross or net income and/or capital for the privilege of engaging in business in that state (including Texas margin Tax liability) that was or is attributable to RTP’s ownership of the RTP Assets or EAOC’s ownership of the EAOC Assets.

Franchise Tax Liability means any Tax imposed by a state on EXCO’s or any of its Affiliate’s gross or net income and/or capital for the privilege of engaging in business in that state for any period or portion thereof ending on or before the Closing Date.

Franchise Tax Liability means any Tax imposed by a state on Seller’s or any of its Affiliates’ gross or net income and/or capital for the privilege of engaging in business in that state. For purposes of determining Franchise Tax Liability, the taxable period shall be the accounting period with respect to which the Tax is computed.

Consolidated Income Tax Expense means, for any period, all provisions for taxes based on the gross or net income of Borrower (including, without limitation, any additions to such taxes, and any penalties and interest with respect thereto), and all franchise taxes of Borrower, as determined on a Consolidated basis and in accordance with GAAP.