Hypothetical Tax Rate definition
Hypothetical Tax Rate means for any given taxable period, the highest hypothetical combined U.S. federal, state and local tax rates for an individual or corporation resident in the higher of (a) the State of California or (b) the City and the State of New York, in each case taking into account the deductibility of state and local income taxes as applicable at the time for United States federal income tax purposes.
Hypothetical Tax Rate means for any given taxable period, the highest hypothetical combined U.S. federal, state and local tax rates for an individual or corporation resident in the City and the State of New York, taking into account the deductibility of state and local income taxes as applicable at the time for United States federal income tax purposes.
Hypothetical Tax Rate means the highest combined marginal U.S. federal, state and local tax rate for a corporation that conducts no activities other than the activities of the Issuer and its Subsidiaries, applicable to income and gain attributable to the Issuer and its Subsidiaries, taking into account (where relevant) the holding period of assets held by the Issuer and its Subsidiaries, the taxable year in which such income or gain is recognised by the Issuer and its Subsidiaries and the character of such income or gain, at the time for U.S. federal income tax purposes.
More Definitions of Hypothetical Tax Rate
Hypothetical Tax Rate means the greater of (a) the combined marginal U.S. federal, state and local tax rate for an individual resident in New York, New York and (b) the highest combined marginal U.S. federal, state and local tax rate for a corporation that conducts no activities other than the activities of Holdings, the Borrower and their Subsidiaries, in each case applicable to income and gain attributable to the Borrower and any entity in which Borrower directly or indirectly owns an interest, taking into account (where relevant) the holding period of assets held by the Borrower and any entity in which Borrower directly or indirectly owns an interest, the taxable year in which such income or gain is recognized, and the character of such income or gain, at the time, for U.S. federal income tax purposes.
Hypothetical Tax Rate means the greater of (a) the highest combined marginal U.S. federal, state and local tax rate for an individual resident in Michigan, New York City or California (whichever is higher) and (b) the highest combined marginal U.S. federal, state and local tax rate for a corporation that conducts no activities other than the activities of the Borrower and its Subsidiaries, in each case applicable to income and gain attributable to the Borrower and its Subsidiaries, taking into account (where relevant) the holding period of assets held by the Borrower and its Subsidiaries, the taxable year in which such income or gain is recognized by the Borrower and its Subsidiaries and the character of such income or gain, at the time for U.S. federal income tax purposes.
Hypothetical Tax Rate means for any given taxable period, the highest hypothetical combined U.S. federal, state and local tax rates for an individual or corporation resident in the higher of (a) the State of California
Hypothetical Tax Rate means the sum of (i) the highest U.S. federal marginal income tax rate applicable to corporations (as measured for the applicable tax year in which the relevant DRD Gross-Up Distribution or Section 1059 Gross-Up Distribution is to be made) and (ii) 5.00%.
Hypothetical Tax Rate means the sum of (i) the highest U.S. federal marginal income tax rate applicable to corporations (as measured, with respect to a Distribution subject to Section (3)(f) hereof, for the applicable tax year in which such Distribution is made) and (ii) 3.00%.
Hypothetical Tax Rate means the greater of (a) the highest combined marginal U.S. federal, state and local tax rate for an individual resident in New York City (taking into account any applicable deduction under Section 199A of the Code) and (b) the highest combined marginal U.S. federal, state and local tax rate for a corporation that conducts no activities other than the activities of the Borrower and its Subsidiaries, in each case applicable to income and gain attributable to the Borrower and its Subsidiaries, taking into account (where relevant) the holding period of assets held by the Borrower and its Subsidiaries, the taxable year in which such income or gain is recognized by the Borrower and its Subsidiaries and the character of such income or gain, at the time for U.S. federal income Tax purposes.
Hypothetical Tax Rate means, for any taxable year, the greater of the highest marginal rate of combined federal, state and local income tax (including any Medicare contribution taxes imposed on net investment income) payable by (i) an individual resident in New York City and