Group Tax Liability definition

Group Tax Liability means the consolidated federal income tax liability reported on the consolidated federal income tax return filed for the taxable year.

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Group Tax Liability means the consolidated Federal income tax liability, if any, reported on the Group Tax Return (as adjusted under Section 8 of this Agreement). For purposes of this Agreement, the term "Group AMT Liability" shall mean the alternative minimum tax liability under Section 55 of the Code, if any, reported on the Group Tax Return (as adjusted under Section 8 of this Agreement).

Group Tax Liability means the consolidated tax liability of the Group reported on a Group’s Consolidated Return.

Examples of Group Tax Liability in a sentence

Any balance owed with respect to the NL Group Tax Liability for such taxable period shall be paid to VHI on or before the 15th day of the third month after the close of such taxable period.
The NL Group shall cooperate fully in providing Contran with all information and documents necessary or desirable to enable Contran to perform its obligations under this Section, including completion of Internal Revenue Service and state or local tax audits in connection with such NL Group Tax Liability and determination of the proper liability for such NL Group Tax Liability.
Each Group included in a Consolidated Federal Return shall bear its Separate Group Tax Liability, if any.
Contran shall be the sole agent for the NL Group in all matters relating to the NL Group Tax Liability.
Each Group included in a Consolidated State Return shall bear its Separate Group Tax Liability, if any.
The preceding sentence is limited to the tax positions that affect the NL Group Tax Liability and the combined VHI Group and Contran Tax Group.
As between the parties to this Agreement, the NL Group shall be solely responsible for the NL Group Tax Liability and shall have no responsibility for Federal Taxes of the VHI Group or the Contran Group other than payment of the NL Group Tax Liability in accordance with the terms of this Agreement.
Any balance owed with respect to the CompX Group Tax Liability for such taxable period shall be paid to NL on or before the 15th day of the third month after the close of such taxable period.
The CompX Group shall cooperate fully in providing Contran with all information and documents necessary or desirable to enable Contran to perform its obligations under this Section, including completion of Internal Revenue Service and state or local tax audits in connection with such CompX Group Tax Liability and determination of the proper liability for such CompX Group Tax Liability.
Contran shall be the sole agent for the CompX Group in all matters relating to the CompX Group Tax Liability.

More Definitions of Group Tax Liability

Group Tax Liability. For a taxable period, the liability for Federal Taxes and Combined Foreign, State and Local taxes, as applicable, that the NL Group would have had if it were not a member of the VHI Group during such taxable period (or during any taxable period prior thereto), and instead filed a separate consolidated return for such taxable period (and during all prior taxable periods beginning after December 31, 2000); provided, however, that for purposes of determining such liability for a taxable period all tax elections shall be consistent with the tax elections made by Contran for such period. In making such tax elections it is understood the Contran Corporation will make those tax elections which are beneficial to the Contran Tax Group on a consolidated basis. Nevertheless, Contran will use its best efforts in the case of those elections which affect the computation of the NL Group Tax Liability, to make elections in a reasonable manner so as to minimize the NL Group Tax Liability.

Group Tax Liability means the consolidated tax liability of a Group reported on a Group’s Consolidated Return.

Group Tax Liability. With respect to each Consolidated Tax Period (including the Consolidated Tax Period that includes the IPO Date), the OSCA Group Tax Liability for such taxable period shall be the OSCA Group's liability for federal Income Taxes for such taxable period, as determined in accordance with Section 2.1(a)(iii).

Group Tax Liability means the consolidated or combined tax liability (including penalties and interest) of the Group for a given year with respect to a Unitary Return.