Income Tax Payable definition

Income Tax Payable means an amount equal to the Group’s corporate income Tax liabilities, excluding deferred Tax liabilities (if any) (which was RMB13,407,000 as at 31 July 2016), calculated based on the taxable profits and the applicable corporate income tax rate;
Sample 1
Income Tax Payable means any income tax payable by Seller, TMI and/or USORTHO.
Sample 1
Income Tax Payable means an amount equal to the income or franchise tax payable of Industries as of the Closing Date calculated in accordance with GAAP consistently applied, plus any interest, penalties or additions to tax or additional amounts in respect of the foregoing.
Sample 1

Examples of Income Tax Payable in a sentence

  • Income Tax Payable 13 Income Tax Expense 13 To record tax effect of entry (b) at 35%.

  • The undersigned hereby acknowledge that the Parties have agreed on the calculation of "Income Tax Payable" liabilities as provided in Section 2.2(b)(iii) and (iv) of the Purchase Agreement, and the final calculation of the Final SOG Adjusted NWC, the Final YFC Adjusted NWC and the "Adjusted NWC" (as defined in the YBL Purchase Agreement).

  • Other Current Liabilities consists of Accrued Liabilities of $146 million, Operating Lease Liabilities Due within One Year of $23 million and Income Tax Payable of $8 million.

  • Notwithstanding any provision of the Purchase Agreement or the YBL Purchase Agreement to the contrary, the undersigned hereby agree that payment of $128,974 is due from Purchaser to Northland Fuel, pursuant to Section 2.2(b)(vi) of the Purchase Agreement, with respect to the agreed calculation of "Income Tax Payable" liabilities.

  • ReclassificationsWithin the operating activities section of the Condensed Consolidated Statement of Cash Flows for the nine months ended 31 December 2016, the Company reclassified the change in the Income Tax Payable balance of US$0.7 million which was previously included within a change in Other Accrued Liabilities, and separated these costs in the change in Income Tax Payable line item, to conform to current year presentation.

  • The Buyers shall not be required to pay to Sellers at Closing the amount of the Income Tax Payable set forth on Exhibit 1(c), as adjusted through August 31, 2009, until such time as the actuary for Cadence has determined the actual amount of the liability to be incurred by Cadence under Financial Accounting Standard 88 (the “FAS 88 Expense”), which liability arises under the Cadence defined benefit plan from the termination of employment of the GCM employees at Closing.

  • The undersigned hereby acknowledge that the Parties have agreed on the calculation of the Final SOG Adjusted NWC, the Final YFC Adjusted NWC and the "Adjusted NWC" (as defined in the YBL Purchase Agreement), other than with respect to the calculation of "Income Tax Payable" liabilities as provided in Section 2.2(b)(iii) and (iv) of the Purchase Agreement.

  • The undersigned hereby agree that the estimate of "Income Tax Payable" liabilities at Closing included in the calculations of the Preliminary SOG Adjusted NWC, Preliminary YFC Adjusted NWC and the "Preliminary Adjusted NWC" (as defined in the YBL Purchase Agreement) was equal to $1,514,158, and the final calculation of "Income Tax Payable" liabilities is equal to $1,385,184.

  • California 100% Exhibit A EXHIBIT B LIST OF PERMITTED INDEBTEDNESS Exhibit B Peoples First Choice, LLC List of Indebtedness As of Closing Date Based on balances - Ausust 31, 2021 2000 · Accounts Payable 401,990 2100 · Sales Tax Payable 271,139 2151 · City of Santa Xxx Tax Payable 236,034 2160 · State Income Tax Payable 616,533 2170 · Federal Income Tax Payable - IRS installment Plan 3,825,017 2170 · Federal Income Tax Payable - accrued 541,077 2501 · Note Payable - X.

  • Income Tax Payable 2,106 Income Tax Expense 2,106 To record tax effect of entry (b) at 35%.


More Definitions of Income Tax Payable

Income Tax Payable means the amount of income tax calculated on the taxable income of the company for the financial period.
Sample 1

Related to Income Tax Payable

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

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

  • 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.

  • 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.

  • Tax Payments has the meaning set forth in the definition of Permitted Payments to Parent.

  • Tax Payment means either the increase in a payment made by an Obligor to a Finance Party under Clause 12.2 (Tax gross-up) or a payment under Clause 12.3 (Tax indemnity).

  • Consolidated Income Tax Expense means, for any period, all provisions for taxes based on the gross or net income of Borrower (including, without limitation, any additions to such taxes, and any penalties and interest with respect thereto), and all franchise taxes of Borrower, as determined on a Consolidated basis and in accordance with GAAP.

  • Actual Tax Liability means, with respect to any Taxable Year, the liability for Covered Taxes of the Corporation (a) appearing on Tax Returns of the Corporation for such Taxable Year and (b) if applicable, determined in accordance with a Determination (including interest imposed in respect thereof under applicable law).

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

  • Tax or “Taxes” means any federal, state, local or foreign income, gross receipts, property, sales, use, license, excise, franchise, employment, payroll, withholding, alternative or add on minimum, ad valorem, transfer or excise tax, or any other tax, custom, duty, governmental fee or other like assessment or charge of any kind whatsoever, together with any interest or penalty, imposed by any Governmental Entity.

  • Total After-Tax Payments means the total of all “parachute payments” (as that term is defined in Section 280G(b)(2) of the Code) made to or for the benefit of the Executive (whether made hereunder or otherwise), after reduction for all applicable federal taxes (including, without limitation, the tax described in Section 4999 of the Code).

  • Non-Income Tax means any Tax other than an Income Tax.

  • Non-Income Taxes means any Taxes other than Income Taxes.

  • Assumed Tax Liability means, with respect to any Member, an amount equal to the excess of (i) the product of (A) the Distribution Tax Rate multiplied by (B) the estimated or actual cumulative taxable income or gain of the Company, as determined for federal income tax purposes, allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, less prior losses of the Company allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, in each case, as determined by the Manager and to the extent such prior losses are available to reduce such income over (ii) the cumulative Tax Distributions made to such Member after the closing date of the IPO pursuant to Sections 4.01(b)(i), 4.01(b)(ii) and 4.01(b)(iii) and, if applicable with respect to such Fiscal Year, pursuant to Section 4.1(a) of the Previous LLC Agreement; provided that, in the case of the Corporation, such Assumed Tax Liability (x) shall be computed without regard to any increases to the tax basis of the Company’s property pursuant to Sections 734(b) or 743(b) of the Code and (y) to the extent permitted under the Credit Agreements and applicable Law, shall in no event be less than an amount that will enable the Corporation to meet both its tax obligations and its obligations pursuant to the Tax Receivable Agreement for the relevant Taxable Year; provided further that, in the case of each Member, and for the avoidance of doubt, such Assumed Tax Liability shall take into account any Code Section 704(c) allocations (including “reverse” 704(c) allocations) to the Member.

  • Consolidated federal income tax return means a consolidated return filed for federal income tax purposes pursuant to section 1501 of the Internal Revenue Code.

  • 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.

  • Connection Income Taxes means Other Connection Taxes that are imposed on or measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes.

  • Rollback tax rate means the rate that will produce last year’s maintenance and operation tax levy (adjusted) from this year’s values (adjusted) multiplied by 1.08 plus a rate that will produce this year’s debt service from this year’s values (unadjusted) divided by the anticipated tax collection rate.

  • Net Tax Benefit has the meaning set forth in Section 3.1(b) of this Agreement.

  • Straddle Tax Period means any taxable period beginning on or before and ending after the Closing Date.

  • Pre-Tax Earnings means the Corporation's earnings before income taxes as reported in the Company's Consolidated Income Statement for each fiscal year of the Performance Period, excluding any non-cash charge incurred in accordance with accounting principles generally accepted in the United States of America (GAAP) for any restricted stock or restricted stock unit awards granted during the Performance Period and all options, restricted stock and other equity compensation granted to Directors during the Performance Period.

  • 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.