Individual Tax Rate definition

Individual Tax Rate. Maximum individual marginal tax rate for employee's province of employment at the Anniversary Date Bonus: Target bonus % applied to the salary rate at the Valuation Date Investment return: Yield on long-term Government of Canada bonds as published in the Bank of Canada Review, described in CANSIM series V122544 (or a successor series) for the last trading Wednesday at the end of the month immediately preceding the Anniversary Date rounded down to next lower 0.5%, and then divided by 2 Decrements: None assumed prior to Calculation Date Eligibility for Pensions: 100% vested PENSION COMMENCEMENT AGE: -- eligible for subsidized early Payable at the completion of the retirement on the Calculation Severance Period. Payable at the Date (i.e., age 55 and 10 years Calculation Date for purposes of of continuous service) determining the amount required under Section 10.6(e). -- not eligible for early retirement Deferred to age 60 or the end of the on the Calculation Date Severance Period if later. Payable at age 60 for purposes of determining the amount required under Section 10.6(e). Fluctuation reserve (1) 15% of the pension obligations Cost of borrowing to settle the Yield on one month Government of Canada obligations Treasury Bills as published in the Bank of Canada Review, described in CANSIM series V122529 (or a successor series) for the last trading Wednesday at the end of the month immediately preceding the Anniversary Date, rounded up to the next higher 0.25%, plus 1.50% - 4 - -------------------------------------------------------------------------------- Notes:
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Individual Tax Rate means the greater of (i) the highest marginal combined United States federal and state individual income tax rate for an individual resident in the State of New York (adjusted for deductibility or credit of state income taxes from federal taxes) and (ii) the highest marginal combined United States federal, state and local individual income tax rate for an individual resident in Dublin, Ohio (adjusted for the deductibility or credit of state and local income taxes from federal and/or state taxes).
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Individual Tax Rate. Maximum individual marginal tax rate for employee's province of employment at the date of termination. SCHEDULE "B-2" -------------- AMENDED AND RESTATED AGREEMENT RESPECTING CHANGE OF CONTROL AND EXECUTIVE BENEFIT PLAN ENTITLEMENTS METHODOLOGY AND ASSUMPTIONS FOR DETERMINING THE AMOUNT TO BE SECURED OR FUNDED IN ACCORDANCE WITH SECTION 11 BASED ON THE METHODOLOGY DESCRIBED IN SCHEDULE "B-1" PURPOSE The purpose of this Schedule "B-2" is to provide the actuarial methodology and assumptions for determining the amount to be secured or funded in accordance with Section 11 of the Restated Agreement.
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Examples of Individual Tax Rate in a sentence

  • Determine after-tax annual pension entitlement under the Executive Benefit Plan based on Individual Tax Rate as defined in Schedule “B-1”.

  • Highlights of the ProposalNew Individual Tax Rate StructureThere would be two individual income tax brackets (10% and 25% on taxable income, and a new 10% surtax on modified adjusted gross income (MAGI) above a 35% bracketthreshold).

  • Determine after-tax annual pension entitlement under the Executive Benefit Plan based on Individual Tax Rate.

  • Individual Tax Rate: Maximum individual marginal tax rate for employee’s province of employment at the date of termination.


More Definitions of Individual Tax Rate

Individual Tax Rate. Maximum individual marginal tax rate for employee's province of employment. SCHEDULE "C" ESTIMATED(1) ENTITLEMENT TO COMPENSATION PURSUANT TO ARTICLE 7 OF THE RESTATED AGREEMENT MONTHLY BASE SALARY (30 MONTHS) $ 800,000.00 Bonus Target Value 240,000.00 Benefits Uplift (13%) 104,000.00 Car Allowance 48,000.00 Savings Plan 48,000.00 Financial Counselling Services 10,500.00 Security Monitoring Services 2,400.00 Executive Outplacement 25,000.00 -------------- TOTAL VALUE $1,277,900.00 ADDITIONAL LUMP SUM SETTLEMENT VALUE OF PENSION(2) $ 555,000.00 TOTAL ESTIMATED ENTITLEMENT UNDER THIS RESTATED AGREEMENT $1,832,900.00 IN ADDITION to the above pension entitlement under the Restated Agreement, the Executive has the following pension entitlements under the Registered Pension Plan and Executive Benefit Plan. As is the case with the figures shown above, these values are estimated values (as of October 1, 2001) and are for illustrative purposes only. Actual values will be calculated as of the date of the entitlement or payment in accordance with the Registered Pension Plan and the Executive Benefit Plan, respectively, and therefore may be subject to change.
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Individual Tax Rate. Maximum individual marginal tax rate for employee's province of employment at the date of termination.
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Related to Individual Tax Rate

  • Marginal Tax Rate means the maximum marginal regular Federal individual income tax rate applicable to ordinary income or the maximum marginal regular Federal corporate income tax rate, whichever is greater.

  • Effective tax rate means the rate that will produce last year’s total tax levy (adjusted) from this year’s total taxable values (adjusted). “Adjusted” means lost values are not included in the calculation of last year’s taxes and new values are not included in this year’s taxable values.

  • 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.

  • Tax Rate means the rate imposed under section 51 of the income tax act of 1967, 1967 PA 281, MCL 206.51, for the tax year in which the tax year of the taxpayer for which the credit is being computed begins.

  • 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).

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

  • 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.

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

  • 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.

  • MUNICIPAL TAXABLE INCOME means the following:

  • Annual Special Tax means the Special Tax actually levied in any Fiscal Year on any Assessor’s Parcel.

  • Hypothetical Tax Liability means, with respect to any Taxable Year, the Hypothetical Federal Tax Liability for such Taxable Year, plus the Hypothetical Other Tax Liability for such Taxable Year.

  • Assumed Tax Rate means the highest effective marginal combined U.S. federal, state and local income tax rate for a Fiscal Year prescribed for an individual or corporate resident in New York, New York (taking into account (a) the nondeductiblity of expenses subject to the limitation described in Section 67(a) of the Code and (b) the character (e.g., long-term or short-term capital gain or ordinary or exempt income) of the applicable income, but not taking into account the deductibility of state and local income taxes for U.S. federal income tax purposes). For the avoidance of doubt, the Assumed Tax Rate will be the same for all Partners.

  • Base Tax Year means the property tax levy year used

  • Qualifying tax rate means the applicable tax rate for the taxable year for the which the taxpayer paid income tax to a municipal corporation with respect to any portion of the total amount of compensation the payment of which is deferred pursuant to a nonqualified deferred compensation plan. If different tax rates applied for different taxable years, then the “qualifying tax rate” is a weighted average of those different tax rates. The weighted average shall be based upon the tax paid to the municipal corporation each year with respect to the nonqualified deferred compensation plan.

  • Applicable Tax Rate means the estimated highest aggregate marginal statutory U.S. federal, state and local income, franchise and branch profits tax rates (determined taking into account the deductibility of state and local income taxes for federal income tax purposes and the creditability or deductibility of foreign income taxes for federal income tax purposes) (“Tax Rate”) applicable to any Partner on income of the same character and source as the income allocated to such Partner pursuant to Sections 5.04(a) and (b) for such fiscal year, fiscal quarter or other period, as determined by the Tax Matters Partner in its discretion; provided that, in the case of a Partner that is a partnership, grantor trust or other pass-through entity under U.S. federal income tax law, the Tax Rate applicable to such Partner for purposes of determining the Applicable Tax Rate shall be the weighted average of the Tax Rates of such Partner’s members, grantor-owners or other beneficial owners (weighted in proportion to their relative economic interests in such Partner), as determined by the Tax Matters Partner in its discretion; provided, further, that if any such member, grantor-owner or other beneficial owner of such Partner is itself a partnership, grantor trust or other pass-through entity similar principles shall be applied by the Tax Matters Partner in its discretion to determine the Tax Rate of such member, grantor-owner or other beneficial owner.

  • Income Tax Expense means, with respect to the Borrowers, for any period, the aggregate, without duplication, of all Taxes on the income of such Person for such period, whether current or deferred, determined on a Modified Consolidated Basis.

  • Additional Tax means in addition to Restaurant Tax. (C) “Additional Tax” means in addition to Commercial Lease. Review each City/Town for tax on Food for Home Consumption. (B) If you report under Hotel (Business code 044), this city has an Additional Hotel tax rate that must be applied and reported (Business Code 144). (D) Report amount due on materials purchased exempt from tax and incorporated into a Maintenance, Repair, Replacement or Alteration (MRRA) project. (E) When reporting for Short Term Motor Vehicle you must report Business Code 214 and 114 for this City.

  • Book-Tax Disparity means with respect to any item of Contributed Property or Adjusted Property, as of the date of any determination, the difference between the Carrying Value of such Contributed Property or Adjusted Property and the adjusted basis thereof for federal income tax purposes as of such date. A Partner’s share of the Partnership’s Book-Tax Disparities in all of its Contributed Property and Adjusted Property will be reflected by the difference between such Partner’s Capital Account balance as maintained pursuant to Section 5.5 and the hypothetical balance of such Partner’s Capital Account computed as if it had been maintained strictly in accordance with federal income tax accounting principles.

  • maximum council tax reduction amount means the amount determined in accordance with paragraph 29;

  • Assumed State and Local Tax Rate means the tax rate equal to the sum of the products of (x) the Corporation’s income tax apportionment factor for each state and local jurisdiction in which the Corporation files income or franchise tax returns for the relevant Taxable Year and (y) the highest corporate income and franchise tax rate in effect for such Taxable Year for each such state and local jurisdiction in which the Corporation files income tax returns for each relevant Taxable Year.

  • Agreement combined tax rate means the sum of the tax rates:

  • Special Tax means the special tax to be levied in each Fiscal Year on each Assessor’s Parcel of Taxable Property to fund the Special Tax Requirement.

  • Taxable Wage Base means, with respect to any Plan Year, the contribution and benefit base under Section 230 of the Social Security Act at the beginning of such Plan Year.

  • Base taxable value means the agreed value specified in a resolution or interlocal agreement under Subsection 17C-1-102(8) from which tax increment will be collected.

  • 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).