Luxury Tax definition
Examples of Luxury Tax in a sentence
Chile shall eliminate the Luxury Tax established in Article 46 of Decreto Ley 825 of 1974, according to the schedule set out in Annex 3.14.
If applicable, the Purchaser shall pay the Additional Tax (a/k/a the "Mansion Tax" or "Luxury Tax") imposed by Section 1402-a of the Tax Law on transfers of $1,000,000 or more unless otherwise provided in writing.
Except as specifically provided in Section B(4) below, a Club with a final Actual Club Payroll at or below the Applicable Tax Threshold shall incur no Luxury Tax for that Contract Year.
Beginning with the day following the payment date specified in subparagraph (a) above, interest shall be charged on any unpaid Luxury Tax amounts at the Imputed Loan Interest Rate for the then current Contract Year.
The Luxury Tax rate shall be 35% in the 1997 and 1998 Contract Years and 34% in the 1999 Contract Year.
No salary arbitrator or arbitration panel shall consider in any fashion any of the provisions in Article XXIII (Luxury Tax).
All Luxury Tax proceeds remaining after the operation of Article XXV, paragraphs C(2) and C(1)(b) and Article XXIII(H) (including any interest collected pursuant to Article XXIII(B)(6)) shall be made available to IGF for use in the activities described in Section B above.
No participant in a salary arbitration shall refer in any fashion, either orally or in writing, to any of the provisions in Article XXIII (Luxury Tax).
Clubs shall make Luxury Tax payments to the Commissioner’s Office on or before January 31 of the next calendar year.
If a Club Option Year in a Uniform Player’s Contract subject to subparagraph (ii) is not exercised, any Club (including a Club to which the Contract was assigned) that paid Luxury Tax in a Contract Year in which that Club’s final Actual Club Payroll included an amount attributed under subparagraph (ii) shall receive a distribution from the Luxury Tax proceeds described in Section H(4) below in the amount of any Luxury Tax paid as a result of that attribution.