Income Tax definition

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

Income Tax means any federal, state, local or foreign Tax (a) based upon, measured by or calculated with respect to net income, profits or receipts (including, without limitation, capital gains Taxes and minimum Taxes) or (b) based upon, measured by or calculated with respect to multiple bases (including, without limitation, corporate franchise taxes) if one or more of the bases on which such Tax may be based, measured by or calculated with respect to, is described in clause (a), in each case together with any interest, penalties, or additions to such Tax.

Income Tax means any income, franchise or similar Taxes imposed on (or measured by) net income or net profits.

Examples of Income Tax in a sentence

• In accordance with the Income Tax Act, Workers' Compensation benefits are not taxable.

• The General Partner, on behalf of the Limited Partnership, and the Limited Partner agree to execute and file all such agreements, elections and other documents as may be necessary or advisable in order that the Contribution of the Stadium Assets to the Limited Partnership may take place on a tax-deferred basis pursuant to subsection 97(2) of the Income Tax Act (Canada).

• Notwithstanding the provisions of paragraph 2, interest to which a resident of Indonesia is beneficially entitled shall be exempt from Malaysian tax if the loan or other indebtedness in respect of which the interest is paid is an approved loan as defined in section 2(1) of the Income Tax Act 1967 of Malaysia.

• The LESSEE shall provide to the LESSOR all appropriate documents: i) showing the payment of the withholding tax and documentary stamp tax; and ii) allowing the LESSOR to claim as advance tax payment or tax credit the amount of withholding taxes withheld from the rental payments (e.g. duly accomplished and bank/BIR validated Monthly Remittance Return of Creditable Income Taxes Withheld (Expanded) [BIR Form No. 1601E and Certificate of Creditable Income Tax Withheld at Source [BIR Form NO.

• TDS deposit is explicit responsibility of Seller to government on time as per Income Tax Act.

More Definitions of Income Tax

Income Tax means any tax based on, or measured by reference to, income whether computed on a separate, consolidated, unitary, combined or any other basis. Such term also shall include any interest, penalties or additions to tax in respect to any Income Tax.

Income Tax means any federal, state, local or Non-U.S. Tax determined by reference to income, gains, net worth, gross receipts, or any Taxes imposed in lieu of such a Tax.

Income Tax means any and all Taxes based upon or measured by net income (regardless of whether denominated as an “income tax,” a “franchise tax” or otherwise).

Income Tax means any Federal Income Tax, State Income Tax, or Foreign Income Tax.

Income Tax means a tax imposed on or measured by net income including any tax imposed on or measured by an amount arrived at by deducting expenses from gross income, one or more forms of which expenses are not specifically and directly related to particular transactions.

Income Tax means a tax on or measured by the net income of a corporation, partnership, joint venture, trust, limited liability company, limited liability partnership, association or other organization or entity (including taxes on capital or net worth that are imposed as an alternative to a tax based on net or gross income), or taxes which are of the nature of excess profits tax, gross receipts tax, minimum tax on tax preferences, alternative minimum tax, accumulated earnings tax, personal holding company tax, capital gains tax or franchise tax for the privilege of doing business.

Income Tax means any Tax measured by or imposed on or in lieu of net income.