Maximum Tax Rate definition

Maximum Tax Rate means the highest combined effective maximum tax rate in effect from time to time with respect to any Partner (based on the assumption that individual rates apply to such Partner) for federal, state and local income tax purposes, computed by taking into account the tax savings resulting from the deductibility of state and local income taxes to the extent permitted for federal purposes and taking into account the tax on self-employment income (also based on the assumption that each Member is an individual taxpayer). The Maximum Tax Rate shall be computed by the Partnership's accountants at the Borrowing Partners' expense whenever the Maximum Tax Rate needs to be determined under Section 3.11.
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Maximum Tax Rate means, with respect to any period, a percentage (expressed as a decimal) equal to the maximum annual income tax rate on ordinary income of a natural person subject at such time to Federal, New York State, and New York City income taxes, determined in respect of the last day of such period. XxXxxxxxx & CO. Schedule B-6 NOTE PURCHASE AGREEMENT
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Maximum Tax Rate means the highest stated tax rate applicable to any Limited Partner for federal and state income tax purposes.
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Examples of Maximum Tax Rate in a sentence

  • For purposes of these Regulations, "Member Tax Liability" for any fiscal year in which there is Net Income shall be the net income (as computed for federal and state income tax purposes) allocated to such Member pursuant to provisions contained in Article V hereof for such year multiplied by the Maximum Tax Rate for such fiscal year, reduced by the cumulative amount of cash previously distributed by the Company to the Member under Section 5.03(a) during or after such fiscal year.

  • In the event that the Maximum Tax Rates of the Members would result in distributions to the Members under this Section 5.03(c) that are not pro rata based upon the Member's Sharing Ratios, the distributions shall be adjusted using the highest Maximum Tax Rate of the Members such that the distributions under this Section 5.03(c) will be made to the Members on a pro rata basis.

  • The amount distributable pursuant to this Section 5.2 shall be determined in the Board’s discretion, based on the Maximum Tax Rate and the amounts allocated to the Members, and otherwise based on such reasonable assumptions as the Board determines.


More Definitions of Maximum Tax Rate

Maximum Tax Rate means the maximum marginal federal, state and local income tax rate (taking into account the character of income) as determined by the Board in its sole discretion.
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Maximum Tax Rate for a particular Adjustment Period means the maximum federal income tax rate applicable to individuals under Section 1 of the Code for each such tax year, plus the rate of tax imposed under Section 1411 of the Code for such year.
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Maximum Tax Rate means, for a particular taxable year, the sum of the highest marginal U.S. federal income tax rate, the highest marginal U.S. state income tax rate and, where applicable, the highest marginal local income tax rate, in each case applicable to any shareholder (or partner, if Ahern Rentals becomes a partnership for U.S. federal income tax purposes) of Ahern Rentals, or such higher rate as may be determined by a Tax Accountant to take into account any additional pass-through liability of any shareholder (or partner) as a result of application of alternative minimum tax (“AMT”), calculated as though such shareholder (or partner) has no items of income, gain, loss, deduction or credit, other than items attributable to Ahern Rentals, has no available AMT exemption amount, and is taxed at the highest marginal AMT rate.
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Maximum Tax Rate means the highest combined marginal federal, state, and local tax rates (taking into account character of income and any tax on “net investment income”) applicable at the time of the relevant determination for an individual or corporation (whichever is higher) resident in San Francisco, California (taking into account the deductibility of state and local income taxes for U.S. federal income tax purposes), as reasonably determined by the Borrowers.
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Related to Maximum Tax Rate

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

  • 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.

  • Maximum Daily Limit means the maximum allowable "Daily Concentration" (defined above) when expressed as a concentration (e.g. mg/l), otherwise, it means the maximum allowable "Daily Quantity" as defined above, unless it is expressed as a flow quantity. If expressed as a flow quantity it means "Maximum Daily Flow" as defined in Section 22a-430-3(a) of the RCSA.

  • Maximum Revolver Amount means $100,000,000, decreased by the amount of reductions in the Revolver Commitments made in accordance with Section 2.4(c) of the Agreement.

  • Maximum Lawful Rate has the meaning set forth in Section 2.7.

  • Maximum Interest Rate means the rate of interest that results in the maximum amount of interest allowed by applicable law.