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

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

  • Without limiting the generality of the foregoing, the application of Section 7.3 and the payment of the R&D Credits and Income Tax Adjustment as provided thereunder, are not restricted or limited in any manner, and they do not and will not constitute a breach of default, pursuant to the financing covenants applicable to the Parent and/or the Buyer.

  • Reporting of players shall be done in accordance with the procedures outlined in the administration manual of S.A.C.B. Disciplinary Tribunals By-Laws.

  • Paragraph 3 - The fiscal council member shall, before taking up office, submit authorization to the Company for access to DIRPF - the Annual Individual Income Tax Adjustment Statements, and any amendments submitted to RFB - the Brazilian Federal Revenue Service, according to the form provided by the Federal Accounting Court.

  • The determination of the amounts so received, used and payable shall be made in accordance with, and subject to, the methodology set forth in Schedule 7.3, provided that in each case, the Company (or any relevant subsidiary where applicable) shall use any deduction, loss, tax credit or other favorable Tax attribute arising from an Income Tax Adjustment ultimately allowed by the applicable tax authority in the earliest year permissible under the applicable tax statute.

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

  • Except as otherwise provided in Section 7.6 and Section 8.4(a), upon a Final Determination resulting in an Income Tax Adjustment to (i) a Current Tax Group Federal Consolidated Return, (ii) an NGC Non-Federal Tax Return, or (iii) a New NGC Non-Federal Tax Return, in each case for a Pre-Distribution Taxable Period or a Straddle Taxable Period, HII shall pay to New NGC the amount set forth in Section 6.1(b) (subject to the limitations in Section 6.1(d) and Section 6.3).

  • Except as otherwise provided in Section 7.6 and Section 8.4(b), upon a Final Determination resulting in an Income Tax Adjustment to (i) a Current Tax Group Federal Consolidated Return, (ii) an NGC Non-Federal Tax Return, or (iii) a New NGC Non-Federal Tax Return, in each case for a Pre-Distribution Taxable Period or a Straddle Taxable Period, New NGC shall pay to HII the amount set forth in Section 6.2(b) (subject to the limitations in Section 6.2(d) and Section 6.3).

  • V See Attachment 5 - Cost Support, section entitled "Other Income Tax Adjustment" for additional information.

  • PPL explains that the Total Income Tax Adjustment amount summed on Attachment 5 is included in line 114a of Appendix A and the amount in Appendix A, line 114a is then grossed up in line 114b using PPL’s composite income tax rate.

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 income taxes paid or due to be paid during such period.

  • Income Tax Return means any Tax Return relating to Income Taxes.

  • XXXXX Adjustment means, with respect to XXXXX, 0.0326% per annum.

  • Income Taxes means any Tax which is based upon, measured by, or calculated with respect to (i) net income or profits (including, but not limited to, any capital gains, gross receipts, value added or minimum Tax) or (ii) multiple bases (including, but not limited to, corporate franchise, doing business or occupation Taxes) if one or more of the bases upon which such Tax may be based, by which it may be measured, or with respect to which it may be calculated is described in clause (i) of this sentence.

  • 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 2.3(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 any adjustment to the Tax basis of a Reference Asset as a result of an Exchange and the payments made pursuant to this Agreement with respect to the Purchase or such Exchange (as calculated under Section 2.1), including, but not limited to:

  • 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 means all Tax Returns relating to Income Taxes.

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

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

  • Post-Closing Adjustment Amount has the meaning set forth in Section 2.2(a).