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 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..

Examples of Net Tax Liability in a sentence

• Net tax liability for a semimonthly period may be figured by dividing the net tax liability for the month by 2, provided this method of computation is used for all semimonthly periods in the calendar quarter.CAUTION!The net tax liability for a semimonthly period isn't reduced by any amounts from Form 720-X.

• Net tax liability for a semimonthly period may be figured by dividing the net tax liability for the month by 2, provided this method of computation is used for all semimonthly periods in the calendar quarter.CAUTION!The net tax liability for a semimonthly period is not reduced by any amounts from Form 720X.

• Net tax liability ( Subtract line 7 from line 6) ...........................................................................................................................

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• Net tax liability amounts are to be carried forward and recorded in Summary of Net Tax Due on page 1.

More Definitions of Net Tax Liability

Net Tax Liability shall equal the income taxes imposed on the Special Partner and its direct and indirect beneficial owners in respect of allocations and distributions to the Special Partner as determined at the highest marginal federal, state and local income tax rates applicable to an individual resident in New York, New York for the relevant periods and taking into account the character of the income underlying the applicable tax obligation (i.e., long-term capital gain, ordinary income or qualified dividend income) less the tax benefit of losses allocated to the Special Partner to reverse prior allocations of taxable income to the extent that such tax benefits are actually realized in the form of a reduction in tax liability otherwise owed as determined by the Special Partner in its sole discretion. The amount so contributed will be for the sole benefit of the Limited Partners and not creditors of the Partnership, and may be paid directly to the Limited Partners by the Special Partner.

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.

Net Tax Liability has the meaning given in Schedule 4;

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 has the meaning ascribed to it in Section 9.06.

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

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.