Minimum Tax Distribution definition

Minimum Tax Distribution means an amount per Membership Unit (other than Preferred Units) for each calendar quarter for each taxable year of the Company equal to the product of (i) the sum of (a) the greater of the highest marginal Federal income tax rate for such taxable year applicable to (x) individuals or (y) large, widely-held corporations and (b) the highest combined marginal state and local income tax rates for such taxable year for the state and city with the highest marginal income tax rates and (ii) the taxable income allocable to each Membership Unit for such calendar quarter as reasonably estimated by the Company.
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Minimum Tax Distribution means the distribution provided for in Section 5.2.
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Minimum Tax Distribution means, with respect to any Member for any Taxable Year, the excess, if any, of (a) the Cumulative Assumed Tax Liability of such Member as of such Taxable Year, over (b) the sum of (i) the amount of distributions made to such Member pursuant to Section 4.01(a) during such Taxable Year and all prior Taxable Years, plus (ii) the amount of distributions made to such Member pursuant to Section 4.01(b) with respect to all prior Taxable Years.
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Examples of Minimum Tax Distribution in a sentence

  • Pursuant to this Section 5.2, a ------------------------- distribution for the payment of federal, state and local Income Taxes for a Partner (a "Minimum Tax Distribution") for each applicable period shall be made to a Partner holding a Common Partnership Interest in an amount equal to the U.S. Taxes Due for such Partner, less Cumulative Minimum Tax Distributions.

  • Notwithstanding the reductions required under Sections 5.2(b) or 5.2(c), no recharacterization of a Minimum Tax Distribution Carryforward under Section 5.2(b) as a Minimum Tax distribution or other distributions under Section 5.2(c) as Minimum Tax Distributions shall have the effect of recharacterizing such reductions as "Section 704(c) Distributions" (as defined below).

  • If funds are available, the General Partner, in its discretion, may cause the Partnership to make quarterly or annual distributions to each Partner (“Tax Distributions”) in an approximate amount equal to the Minimum Tax Distribution Amount for such Partner.

  • In the event the reductions under Sections 5.2(b) or 5.2(c) reduce a Minimum Tax Distribution distributable to a Partner to an amount less than such Partner's U.S. Taxes Due, the Executive Committee may, in its discretion, unanimously agree to decrease the reductions to be made under Sections 5.2(b) or 5.2(c) in an amount necessary for a Partner to receive a distribution with respect to Minimum Tax Distributions in an amount needed to pay such Partner's U.S. Taxes Due.


More Definitions of Minimum Tax Distribution

Minimum Tax Distribution means, with respect to Borrower's members, an amount sufficient to permit the Members to pay their federal and state income taxes for a given taxable year on the aggregate taxable income, as adjusted by the proviso of this paragraph, allocated to such members for such tax year pursuant to the Operating Agreement, assuming for this purpose that such members are subject to the highest U.S. federal statutory marginal ordinary income tax rate then applicable for individuals; provided, however, if such members have been allocated in prior tax years losses, such losses shall first be offset against income for such tax year (to determine a net taxable income), until all such losses have been offset against income in such tax year or prior tax years, and the amount of such taxable income, less the offsetting losses, if any, shall be regarded as the amount of taxable income of such members for such tax year.
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