Income Tax Adjustment definition

Income Tax Adjustment means any change in any Income Tax Item, whether resulting from a Tax Proceeding or an Adjustment Request; provided, however, that a claim for refund resulting from a carryback of a loss, credit or other Tax Attribute in a Post-Distribution Taxable Period to a Pre-Distribution Taxable Period or a Straddle Taxable Period is not an Income Tax Adjustment.
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Income Tax Adjustment means the total net amount of the tax refunds or actual reduction in Taxes realized by the Company after taking into account all correlative adjustments and Tax increases or decreases relating to such amendments, including Tax increases or decreases in taxable periods ending after the Closing Date (with any reduction in Tax attributes being treated as a Tax increase) resulting from the amendments to the income Tax Returns of the Company for the taxation years ended December 31, 2007, December 31, 2008 and December 31, 2009, as determined under the procedures set forth in Sections7.2 and 7.3 of this Agreement.
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Income Tax Adjustment means (i)(A) the Option Tax Benefit, less the Available Net Operating Loss Carryover, times (B) 39.2%, minus (ii) Available Income Tax Refunds; provided that if the Income Tax Adjustment is a negative amount, it shall be treated as $0.
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Examples of Income Tax Adjustment in a sentence

  • The undersigned parties hereby state their support for a filing by PSE&G requesting a separate generic Board proceeding within sixty (60) days of issuance of a written final Board Order in this proceeding to address issues on a state-wide basis, relating to a Consolidated Income Tax Adjustment.

  • Nisi Approving 2019 WICA Surcharge andCreation of Regulatory Liability Accounting for Corporate Income Tax Adjustment O R D E R N O.

  • The method for the calculation of the Provisions for Income Tax Adjustment is set out in Schedule 7.

  • Please refer to Information Sheet: Personal Income Tax Adjustment Process (DE 231W) for additional information.

  • See also ATC, Rate Formula Template, page 3, line 24a, “Excess Deferred Income Taxes (enter negative),” and line 26a, “Excess Deferred Income Tax Adjustment”; DATC, Attachment O Template as approved in Docket No. ER12-1593-000, page 3, line 38, “Excess Deferred Income Taxes” and line 42, “Excess Deferred Income Tax Adjustment.

  • Rider 36 – Variable Income Tax Adjustment (Rider VITA)...................

  • This accounting shall be followed for the adjustments required upon initial application of the statement and for all amounts of equity AFUDC capitalized in subsequent periods.61 In order to recover the tax amount on an ongoing basis, as discussed above, Delmarva proposes to add an Other Income Tax Adjustment section to its Formula Rate, with a new line 136c titled “Other Income Tax Adjustment” that will be added to the Total Income Taxes computed on line 138 of the Formula Rate.

  • AIC_ADIT_2019_True-Up_6-1-20 (“ADIT Worksheet”) shows that the amount of $13,463,566 was credit in 2019, whereas WP21 of Attachment O Income Tax Adjustment shows the Reversal Excess Deferred amount of$13,331,225.

  • The amount of USP’s PIANI account for FS reflects its Look-Through Inclusion for FS of $92, less $12 of foreign income taxes contained in the inclusion under the Income Tax Adjustment Rule.

  • The transmission portion of line 5 is specified in a footnote to the Form 1, page 227.V See Attachment 5 - Cost Support, section entitled "Other Income Tax Adjustment" for additional information.W The Accumulated Deferred Income Tax (ADIT) balances in Accounts 190, 281, 282, and 283 are measured using the enacted tax rate that is expected to apply when the underlying temporary differences are expected to be settled or realized.

Related to Income Tax Adjustment

  • Tax Adjustment has the meaning set forth in Section 4.7.

  • Income Tax Expense means for Borrower and its Subsidiaries, on a consolidated basis for any period, all state and federal franchise or income taxes paid or due to be paid during such period.

  • Income Tax Return means any return, declaration, report, claim for refund, or information return or statement relating to Income Taxes, including any schedule or attachment thereto, and including any amendment thereof.

  • Income Taxes means any taxes measured, in whole or in part, by net or gross income or profits together with any interest, penalties or additions to tax.

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

  • 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.

  • True-Up Adjustment means any Semi-Annual True-Up Adjustment or Interim True-Up Adjustment, as the case may be.

  • SOFR Adjustment means 0.10% (10 basis points).

  • Closing Adjustment has the meaning set forth in Section 2.04(a)(ii).

  • Income Tax Act means the Income Tax Act, 1962 (Act No. 58 of 1962);

  • Hypothetical Tax Liability means, with respect to any Taxable Year, the liability for Taxes of the Corporation (or the Partnerships, but only with respect to Taxes imposed on the Partnerships and allocable to the Corporation) using the same methods, elections, conventions and similar practices used on the relevant Corporation Return but using the Non-Stepped Up Tax Basis instead of the tax basis reflecting the Basis Adjustments of the Adjusted Assets and excluding any deduction attributable to Imputed Interest.

  • Closing Adjustment Amount shall have the meaning set forth in Section 3.2(c).

  • Post-Closing Adjustment has the meaning set forth in Section 2.04(b)(ii).

  • Equity Adjustment means the dollar amount resulting by subtracting the Book Value, as of Bank Closing, of all Liabilities Assumed under this Agreement by the Assuming Bank from the purchase price, as determined in accordance with this Agreement, as of Bank Closing, of all Assets acquired under this Agreement by the Assuming Bank, which may be a positive or a negative number.

  • CPI Adjustment means the quotient of (i) the CPI for the month of January in the calendar year for which the CPI Adjustment is being determined, divided by (ii) the CPI for January of 2007.

  • 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.

  • Basis Adjustment means the adjustment to the tax basis of an Original Asset under Sections 743(b) and 754 of the Code and comparable sections of state and local tax laws (as calculated under Section 2.01 of this Agreement) as a result of an Exchange and the payments made pursuant to 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.

  • After Tax Amount means the amount of the Aggregate Payments less all federal, state, and local income, excise and employment taxes imposed on the Executive as a result of the Executive’s receipt of the Aggregate Payments. For purposes of determining the After Tax Amount, the Executive shall be deemed to pay federal income taxes at the highest marginal rate of federal income taxation applicable to individuals for the calendar year in which the determination is to be made, and state and local income taxes at the highest marginal rates of individual taxation in each applicable state and locality, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes.

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

  • Pre-Distribution Tax Period means any taxable period (or portion thereof) that ends on or before the Distribution Date.

  • Income Tax Returns mean all Tax Returns that relate to Income Taxes.

  • Final Tax Amount has the meaning set forth in Section 4.01(b)(ii).

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

  • Post-Closing Adjustment Amount has the meaning set forth in Section 2.04(c).

  • Net After Tax Amount means the amount of any Parachute Payments or Capped Payments, as applicable, net of taxes imposed under Code Sections 1, 3101 (b) and 4999 and any State or local income taxes applicable to the Executive on the date of payment. The determination of the Net After Tax Amount shall be made using the highest combined effective rate imposed by the foregoing taxes on income of the same character as the Parachute Payments or Capped Payments, as applicable, in effect on the date of payment.