Incremental Sales Tax definition

Incremental Sales Tax means that amount of sales and use taxes received by the UG from Project Area 4 of the TIF District, which are imposed pursuant to K.S.A. 12-187 et seq., limited to 1% of the current City of Kansas City sales tax rate of 1.625% (excluding the 0.25% UG EMS sales tax and the 0.375% UG public safety and neighborhood infrastructure tax) and the UG's share of the current Wyandotte County 1% sales tax, which is currently 93.84%, which exceeds the Base Year Revenues, as described in Section 4.4(a)(i).
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Examples of Incremental Sales Tax in a sentence

  • Within 45 days following the first day of each quarter (January 1, April 1, July 1, and October 1) that CC Trust is eligible for payments of Public Assistance from Incremental Sales Tax Revenues (as defined in Section 5.03 of this Agreement), NTIFA shall provide Developer Parties with documentation of amounts collected as result of those efforts.

  • The City and NTIFA shall use commercially reasonable efforts to collect and account for Incremental Sales Tax collections within TIF 4 that are generated outside of the Property.

  • Dedication reflects a strong involvement in one’s work and feeling of significance, enthusiasm, pride, inspiration, and challenge.

  • To the extent that the Sales Taxes received by the Town from the Target in the Project in any full calendar year exceed the Baseline Tax Revenue (the “Incremental Sales Tax”) and to the extent that there are District Bonds outstanding, the Town shall thereafter, subject to annual appropriation, remit Incremental Sales Tax received from the Town’s 1.10% Sales Tax on Taxable Sales to the District Bond Trustee (“Pledged Tax Revenue”).

  • It does not have contractual status and may be reviewed and amended or withdrawn by the Council, on the recommendation of the Committee at the Council’s discretion.

  • During the existence of the TIF District, all Incremental Sales Tax and Incremental Real Property Tax generated within Project Area 4 of the TIF District shall be deposited into a separate fund (the "Bridge TIF Fund"), which shall be established and administered by the UG in compliance with this Agreement and all Applicable Laws and Requirements.

  • The share of the State for purposes of this Section 2.2(b) shall be the percentage the State portion of the Incremental Sales Tax received during the 12-month period ending the last day of February bears to the total Incremental Sales Tax received during such 12-month period.

  • This analysis is the second part of a two-phase study to measure the expansion’s economic and fiscal impact and to determine the amount of Incremental Sales Tax Increases upon the Convention Center expansion that will be payable to the City.

  • The Rousseff administration (2010-15) continued the program under the name PAC-2.

  • In addition, the Parties shall continue to pay Shared Revenue pursuant to Section 6 of this Agreement [OPTIONS]: [1] on the amount Incremental Sales Tax Revenue existing as of the effective date of the termination.

Related to Incremental Sales Tax

  • Tax increment revenues means the amount of ad valorem property taxes and specific local taxes attributable to the application of the levy of all taxing jurisdictions upon the captured assessed value of real and personal property in the zone. Tax increment revenues do not include any of the following:

  • Tax Increment means the difference between:

  • Estimated Incremental Quarterly Tax Amount has the meaning assigned to such term in Section 6.9.

  • Incremental Income Taxes is defined in Section 6.9.

  • Tax Increment District or "district" means that area to which the tax increment finance plan pertains.

  • Property tax increment means the amount obtained by:

  • Incremental property taxes means the taxes as provided in Iowa Code sections 403.19 and 260E.4. “Industry” means a business engaged in interstate or intrastate commerce for the purpose of manufacturing, processing, or assembling products, conducting research and development, or providing services in interstate commerce, but excludes retail, health, or professional services. An industry is a business engaged in activities described as eligible in the Act rather than the generic definition encompassing all businesses in the state doing the same activities. An industry is considered to be a single, corporate entity or operating subdivision. An industry which closes or substantially reduces its operation in one area of the state of Iowa and relocates substantially the same operation in another area of the state is not eligible for a project. This definition does not prohibit a business from expanding its operations in another area of the state provided that existing operations of a similar nature are not

  • Tax increment financing acts means 1975 PA 197, MCL 125.1651 to 125.1681, the tax increment finance authority act, 1980 PA 450, MCL 125.1801 to 125.1830, the local development financing act, 1986 PA 281, MCL 125.2151 to 125.2174, the brownfield redevelopment financing act, 1996 PA 381, MCL 125.2651 to 125.2672, or the corridor improvement authority act, 2005 PA 280, MCL 125.2871 to 125.2899.

  • Net Sales Revenue shall have the meaning as set out in Schedule "A"

  • Incremental Income Tax means the total amount withheld

  • Sales Tax Revenues means taxes collected under the Virginia Retail Sales and Use Tax Act

  • Incremental Term Facility has the meaning assigned to such term in Section 2.22(a).

  • Contract Quarter means a three-month period that commences on January 1, April 1, July 1 or October 1 and ends on March 31, June 30, September 30, or December 31, respectively.

  • Sales Revenue means receipts from the sale, lease, or rental of goods, services, or property;

  • Incremental Term Loan has the meaning set forth in Section 2.14(b).

  • Sales Taxes has the meaning set forth in Section 3.2.

  • Sales Tax means all applicable provincial and federal sales, use, value-added or goods and services taxes, including GST/HST;

  • Incremental Term Loans has the meaning specified in Section 2.14(a).

  • Volumetric Production Payments means production payment obligations recorded as deferred revenue in accordance with GAAP, together with all undertakings and obligations in connection therewith.

  • Royalty Year means, (i) for the year in which the First Commercial Sale occurs (the “First Royalty Year”), the period commencing with the first day of the Calendar Quarter in which the First Commercial Sale occurs and expiring on the last day of the Calendar Year in which the First Commercial Sale occurs and (ii) for each subsequent year, each successive Calendar Year.

  • Increment means the amount per annum provided as a rate of increase in the applicable salary payable to any eligible employee, which unless the context of the relevant approved pay range otherwise clearly indicates, may be granted annually on the applicable anniversary dates.

  • Assigned Annual Special Tax means the Special Tax of that name described in Section D.

  • Scan increment means the amount of relative displacement of the patient with respect to the CT x-ray system between successive scans measured along the direction of such displacement.

  • Annual Net Sales means, with respect to any Calendar Year, the aggregate amount of the Net Sales for such Calendar Year.

  • Royalty Payments has the meaning set forth in Section 7.3.1.

  • Recurring Revenue Loan means a Collateral Loan that meets each of the following criteria as of the date of acquisition by the Borrower, subject to waiver by the Administrative Agent in accordance with the definition of Eligible Collateral Loan hereto (for the avoidance of doubt, if any Collateral Loan does not meet the below listed conditions, but such failure is waived by the Administrative Agent, such Collateral Loan shall still be subject to the Advance Rates, Concentration Limitations and Revaluation Events applicable to Recurring Revenue Loans set forth herein):