Local Tax Returns definition

Local Tax Returns means any state or local Tax Returns related to the Purchased Assets which prior to the Closing Date were prepared and filed by or on behalf of the Sellers, other than sales Tax Returns which are required to be filed by Sellers. For the avoidance of doubt, Local Tax Returns shall not include any state or federal Tax Returns for Income Taxes.
Sample 1
Local Tax Returns means any state or local Tax Returns related to the Purchased Assets which prior to the Closing Date were prepared and filed by or on behalf of the Seller. For the avoidance of doubt, Local Tax Returns shall not include any state or federal Tax Returns for Income Taxes.
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Examples of Local Tax Returns in a sentence

  • Such Local Tax Returns will be prepared consistent with prior practice.

  • State or local taxes will be calculated for such period in accordance with the Tax Sharing Agreement with regard to the allocation of state and local tax liabilities where combined, consolidated or unitary State and Local Tax Returns are filed.

  • After the Closing Date, the Purchaser shall control on the Sellers’ behalf any tax audits with respect to Local Tax Returns filed by the Purchaser after the Closing Date, and will cooperate with the applicable Taxing Authority to reach a resolution of any such audit.

  • Such Final State and Local Tax Returns shall be submitted to Phoenix U.S. for review and approval, which shall not be unreasonably withheld, in the same manner and subject to the same procedures as described in 11.1(a) above.

  • After the Closing Date, the Buyer shall control on the Seller’s behalf any tax audits with respect to Local Tax Returns filed by the Buyer after the Closing Date, and will cooperate with the applicable Taxing Authority to reach a resolution of any such audit.

  • The Sellers will reimburse the Purchaser for any Taxes shown due on such returns to the extent that such Taxes are not Assumed Liabilities under Section 2.3 and Section 2.4. Prior to filing any Local Tax Returns in accordance with this Section 6.9(d), the Purchaser will provide the Sellers a copy of any such returns for their review and comment, which comments shall be incorporated into such Local Tax Returns prior to filing.

  • The Seller will reimburse the Buyer for any Taxes shown due on such returns to the extent that such Taxes are not Assumed Liabilities under Section 2.3 and Section 2.4. Prior to filing any Local Tax Returns in accordance with this Section 6.4(d), the Buyer will provide the Seller with copies of any such returns for their review and comment, which comments shall be incorporated into such Local Tax Returns prior to filing.

  • After the Closing Date, the Purchaser shall control on the Sellers’ behalf any tax audits with respect to Local Tax Returns of the Sellers (including the Florida voluntary sales tax audit disclosed in Section 4.6 of the Seller Disclosure Schedule), and will cooperate with the applicable taxing authority to reach a resolution of any such audit.

  • The Sellers will reimburse the Purchaser for any Taxes shown due on such returns to the extent that such Taxes are not Assumed Liabilities under Sections 2.3 and 2.4. Prior to filing any Local Tax Returns in accordance with this Section 6.9(d), the Purchaser will provide the Sellers a copy of any such returns for their review and comment, which comments shall be incorporated into such Local Tax Returns prior to filing.

  • The Seller shall duly prepare or cause to be prepared, and file or cause to be filed, on a timely basis, all Federal, State and Local Tax Returns for the Acquired Entity for any period ending on or before Closing.

Related to Local Tax Returns

  • Income Tax Returns means all Tax Returns relating to Income Taxes.

  • Tax Returns means any and all reports, returns, declarations, claims for refund, elections, disclosures, estimates, information reports or returns or statements required to be supplied to a taxing authority in connection with Taxes, including any schedule or attachment thereto or amendment thereof.

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

  • Local taxes means all taxes levied other than taxes levied for school operating purposes.

  • Combined Tax Return means a Tax Return filed in respect of U.S. federal, state, local or non-U.S. income Taxes for a Combined Group, or any other affiliated, consolidated, combined, unitary, fiscal unity or other group basis (including as permitted by Section 1501 of the Code) Tax Return of a Combined Group.

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

  • Pre-Closing Tax Returns has the meaning set forth in Section 4.02(b).

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

  • 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).

  • Tax return preparer means any individual described in Section 7701(a)(36) of the Internal Revenue Code and 26 C.F.R. 301.7701-15 .

  • Tax Authorities means domestic or foreign tax, revenue, fiscal or monetary authorities.

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

  • Straddle Tax Period means a Tax period that begins on or before the Closing Date and ends thereafter.

  • Payroll Taxes means State Unemployment Insurance (SUI), Federal Unemployment Insurance (FUI), and payments pursuant to the Federal Insurance Contributions Act (FICA).

  • Tax roll means a permanent record of the taxes charged on property, as extended

  • 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.

  • Tax means any tax, levy, impost, duty or other charge or withholding of a similar nature (including any penalty or interest payable in connection with any failure to pay or any delay in paying any of the same).

  • Transaction Payroll Taxes means all employer portion payroll or employment Taxes incurred in connection with any bonuses, option cash-outs or other compensatory payments in connection with the Transactions.

  • criminal tax matters means tax matters involving intentional conduct whether before or after the entry into force of this Agreement which is liable to prosecution under the criminal laws of the requesting Party;

  • Pre-Closing Tax Return has the meaning set forth in Section 7.1(a).

  • Taxing Authorities means Her Majesty the Queen in right of Canada, Her Majesty the Queen in right of any province or territory of Canada, any municipality of Canada, the Canada Revenue Agency, the Canada Border Services Agency, any similar revenue or taxing authority of Canada and each and every province or territory of Canada (including Revenu Québec) and any political subdivision thereof and any Canadian or foreign government, regulatory authority, government department, agency, commission, bureau, minister, court, tribunal or body or regulation making entity exercising taxing authority or power, and “Taxing Authority” means any one of the Taxing Authorities;

  • Relevant Tax Authority means HMRC, or, if applicable, the tax authority in the jurisdiction in which the Supplier is established;

  • 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.

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

  • 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.

  • 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.