Net Tax Liability definition

Net Tax Liability means a positive number equal to: (i) an amount equal to all unpaid Taxes of the Purchased Entities at the Closing Time (including as may result as a consequence of the Reorganization) related to a Pre-Closing Tax Period of a Purchased Entity, minus (ii) the Closing Cash.

Net Tax Liability means a claimant’s income tax liability after he or she completes the computations listed in s. 71.10 (4) (a) to (dr).

Net Tax Liability for each Member shall be computed by first multiplying such Member’s allocations of Net Income from the Company for the calendar year by the highest then applicable combined federal and state income tax rate for individuals, net of the effect of deduction of any such taxes, with such rate to be provided to the Manager by the Company's outside accountants. No Members shall be entitled to a Tax Distribution is such Member is in material default under any of the terms and conditions of this Agreement. All Tax Distributions to any Member shall offset the next subsequent distribution(s) to which such Member(s) may become entitled under Section 5.1. Upon dissolution of the Company, the cumulative distributions of the Members shall be computed to ensure that, notwithstanding any Tax Distributions under this Section 5.6, such cumulative distributions have been made in accordance with Section 5.1. In the event any Member has, as a result of this Section 5.6, received more distributions than it was entitled to receive under Section 5.1, such Member shall repay such excess to the Company prior to the liquidating distributions under Section 5.2 above.

Examples of Net Tax Liability in a sentence

• For purposes of the preceding sentence, Net Tax Liability Payable or Net Tax Refund Receivable shall mean the amount specified in the Final Determination issued by the applicable state, local or municipal Taxing Authority after both giving effect to utilization of tax credits and net operating losses and taking into account any Adjustments to apportionment factors, Federal taxable income and state modifications to Federal taxable income.

• Accordingly, the apportionment factor allocation methodology will be applied to the Net Tax Liability Payable or Net Tax Refund Receivable (as defined below) in determining the total amount of the Distributing segment and the Tronox segment.

• The total purchase price for the Purchased Shares is an amount equal to: (i) C$84,340,448, less (ii) the Net Tax Liability, plus, (iii) as of the Reference Date, C$337,361,791 (the “Purchase Price”).

• Accordingly, the apportionment factor allocation methodology will be applied to the Net Tax Liability Payable or the Net Tax Refund Receivable as determined by the applicable state, local or municipal Taxing Authority whether as a result of audit, refund claim or otherwise.

• In the event that Intuit and the C-Co Shareholders have not agreed upon the amount of the Net Tax Liability by the Closing Date, promptly following the Closing Date, Intuit and the C-Co Shareholders shall together select an independent "Big 5" accounting firm acceptable to each of Intuit and the C-Co Shareholders to determine such amount, and whose determination of such amount shall be final.

More Definitions of Net Tax Liability

Net Tax Liability has the meaning ascribed to it in Section 9.06.

Net Tax Liability has the meaning given in Schedule 4;

Net Tax Liability means a taxpayer’s income tax due the State after crediting all tax credits claimed by the taxpayer and before the application of estimated income tax payments or individual income tax withholding payments.

Net Tax Liability means the amount of current corporation tax (and tax of like nature on profits) receivable by the MGT/IST Companies as at the Net Assets Date minus the amount of current corporation tax (and tax of like nature on profits) payable by the MGT/IST Companies as at the Net Assets Date, being the aggregate figure shown in the line labelled “E” in the Net Asset Statement, so long as the resulting amount is a negative amount, for the avoidance of doubt, excluding any deferred tax assets and tax liabilities;

Net Tax Liability means the deferred and any other tax liability arising from termination of Xxxxxxxx'x status as an S Corporation (e.g. cash to accrual adjustment) net of the value of tax benefits associated with the Acquired Companies' U.K. net operating losses and amortization of purchased intangibles in the U. K..

Net Tax Liability means, in respect of any Tax liability of an MCH Company:

Net Tax Liability means, with respect to any Costs of an Indemnified Party, the amount, if any, by which (a) the sum of all federal, state and local Taxes, if any, required to be paid by the Indemnified Party in respect of the receipt or accrual of any payments by any Indemnifying Parties in respect of such Costs under Article VIII exceeds (b) the present value of any reduction in taxes of such Indemnified Party by reason of deductions, credits or allowances ("Tax Benefits") in respect of the payment or accrual of the Costs recognized by such Indemnified Party.