Profit and Losses definition

Profit and Losses means for each Fiscal Year, an amount equal to the Company’s taxable income or loss for such Fiscal Year, determined in accordance with Section 703(a) of the Code (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Section 703(a)(1) of the Code shall be included in taxable income or loss).
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Profit and Losses means for each Fiscal Year or other period, the taxable income or loss of the Partnership, respectively, or particular items thereof, determined in accordance with the accounting method used by the Partnership for Israeli income tax purposes.
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Profit and Losses. For each Fiscal Year or applicable portion thereof, an amount equal to Partnership’s taxable income or loss for such period, determined in accordance with Code Section 703(a) (for this purpose, all items of income, gain, loss, or deduction required to be stated separately pursuant to Code Section 703(a)(1) shall be included in taxable income or loss), with the following adjustments (without duplication): (i) any income of the Partnership that is exempt from federal income tax and not otherwise taken into account in computing Profits or Losses pursuant to this definition of “Profits” and “Losses” shall be taken into consideration in computing such taxable income or loss, (ii) any expenditures of Partnership described in Code Section 705(a)(2)(B) or treated as Code Section 705(a)(2)(B) expenditures pursuant to Treasury Regulations Section 1.704-1(b)(2)(iv), and not otherwise taken into account in computing Profits or Losses pursuant to this definition of “Profits” and “Losses,” shall be taken into consideration in computing such taxable income or loss, (iii) in the event the Gross Asset Value of any Partnership asset is adjusted pursuant to subparagraphs (ii) or (iii) of the definition of “Gross Asset Value,” the amount of such adjustment shall be treated as an item of gain (if the adjustment increases the Gross Asset Value of the asset) or an item of loss (if the adjustment decreases the Gross Asset Value of the asset) from the disposition of such asset and shall be taken into account for purposes of computing Profits or Losses, (iv) gain or loss resulting from any disposition of any property with respect to which gain or loss is recognized for federal income tax purposes shall be computed by reference to the Gross Asset Value of the property disposed of, notwithstanding that the adjusted tax basis of such property differs from its Gross Asset Value, (v) in lieu of the depreciation, amortization, and other cost recovery deductions taken into account in computing such taxable income or loss, there shall be taken into account Depreciation for such Allocation Year or other applicable period, computed in accordance with the definition of Depreciation; and (vi) to the extent an adjustment to the adjusted tax basis of any Partnership asset pursuant to Code Section 734(b) is required, pursuant to Treasury Regulations Section 1.704-1(b)(2)(iv)(m)(4), to be taken into account in determining Capital Accounts as a result of a distribution other than in liquidation of ...
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Examples of Profit and Losses in a sentence

  • Open Profit and Losses will not be converted to your Base Currency except for purposes of display in your Account Summary.

  • It has been divided in eight parts, which are:- External factors- Demand and Revenue- Direct Costs- Indirect Costs - Investment and Amortizations- Profit and Losses- Business Value- ConclusionsIt is obvious that a Business Plan includes some parts that this one does not, but in order to define a telecommunications operator business, this one is enough in what concerns us.

  • PIRS shall have no obligation to share with SGEN any [***] received from such PIRS Partner under such Full Sublicense Agreement, and such [***] shall not be included in the calculation of Profit and Losses as set forth in Exhibit 1.189.

  • The methods set forth in this Article VI by which Distributions are made and items of Profit and Losses are allocated are hereby expressly consented to by each Unitholder as an express condition to becoming a Unitholder.

  • SGEN shall have no obligation to share with PIRS any [***] received from such SGEN Partner under such Full Sublicense Agreement, and such [***] shall not be included in the calculation of Profit and Losses as set forth in Exhibit 1.189.

  • If an Alternative Vehicle is not treated as a partnership for income tax purposes, the calculations described in this Section 2.8(b) shall be made as if such Alternative Vehicle were a partnership except that any taxes imposed on such entity shall be a deduction from Profit and Losses.

  • If any Excess Expenses shall be repaid to the Partnership during any Fiscal Year, then the allocation of Profit and Losses under Section 6.1A for such Fiscal Year shall be adjusted as follows: first, General Partner shall be allocated an amount of the gross income of the Partnership equal to the amount of the Excess Expenses repaid in such Fiscal Year; and second, the balance of such gross income and all items of deductions shall be allocated as provided in Section 6.

  • The non- allocated assets include deferred taxes, tangible assets, derivatives used to hedge future commercial transactions, financial assets at fair value through Profit and Losses, cash and cash equivalents, taxation, raw and indirect materials, investment in associates, other receivables.

  • Profit and Losses • Throughout the POI, the industry exhibited losses in EBIT.• EBIT exhibited losses since 2015 and worsen by 58% in 2016, improved by 4% in 2017 but worsened by 77% in 2018 and 37% further in 2019 and further worsen as of 3Q of 2020.

  • However, if you are a Family Child Care Provider, we will verify your income using the Schedule C, Profit and Losses pages of your tax return and look at the net profit.

Related to Profit and Losses

  • Net Losses means, for each fiscal year or other period, an amount equal to the Partnership's taxable income or loss for such year or period determined in accordance with Code Section 703(a) (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Code Section 703(a)(1) shall be included in taxable income or loss), with the following adjustments:

  • Profits and Losses means, for each Fiscal Year or other period, an amount equal to the Company's taxable income or loss for such year or period, determined in accordance with Code Section 703(a) (for this purpose, all items of income, gain, loss, or deduction required to be stated separately pursuant to Code Section 703(a)(l) shall be included in taxable income or loss), with the following adjustments:

  • Cash Flow Statement means, with respect to any particular Bonds and Auxiliary Obligations, an Authority Certificate (a) setting forth, for the then current and each future Bond Year during which such Bonds and Auxiliary Obligations will be Outstanding, and taking into account (i) any such Bonds expected to be issued or redeemed or purchased for cancellation in each such Bond Year upon or in connection with the filing of such Certificate (for which purpose, if such Authority Certificate is delivered as of a date prior to a scheduled mandatory tender date for any Adjustable Rate Bonds, the Purchase Price of all such Adjustable Rate Bonds subject to scheduled mandatory tender on such tender date shall be assumed to be due and payable on such mandatory tender date), (ii) any such Auxiliary Obligations expected to be incurred upon or in connection with the filing of such Certificate, (iii) the interest rate (if applicable), purchase price, discount points and other terms of any Related Mortgage Loans, and (iv) the application, withdrawal or transfer of any moneys expected to be applied, withdrawn or transferred upon or in connection with the filing of such Certificate:

  • Net Loss means, for each fiscal year or other applicable period, an amount equal to the Partnership’s taxable income or loss for such year or period as determined for federal income tax purposes by the General Partner, determined in accordance with Section 703(a) of the Code (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Section 703(a) of the Code shall be included in taxable income or loss), adjusted as follows:

  • Non-profit making companies means companies set up under the Companies Act, 1956/Companies Act 2013.

  • Net Income or Net Loss means, for each Fiscal Year or other applicable period, an amount equal to the Partnership’s taxable income or loss for such year or period, as determined for federal income tax purposes, determined by the Accountants in accordance with Section 703(a) of the Code (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Section 703(a) of the Code shall be included in taxable income or loss), with the following adjustments:

  • Tax Distributions has the meaning set forth in Section 4.01(b)(i).

  • Net Profits and “Net Losses” for any Fiscal Year or other period shall mean, respectively, an amount equal to the Company’s taxable income or loss for such Fiscal Year or other period as determined for federal income tax purposes by the Managing Member, determined in accordance with Section 703(a) of the Code (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Section 703(a) of the Code shall be included in taxable income or loss), adjusted as follows:

  • Net Loss Amount means the sum of Cumulative Loss Amounts under this Single Family Shared-Loss Agreement and Aggregate Net Charge-Offs under the Commercial Shared-Loss Agreement.

  • Allocations means any and all of the allocations described in Sections 1.3(a), 1.3(b), 1.3(c) and 1.3(d) hereof.

  • Tax Items shall have the meaning set forth in Section 6.4.A.

  • Retained Earnings means the retained earnings of an FHLBank calculated pursuant to GAAP.

  • Balance Sheets has the meaning set forth in Section 4.5(a).

  • Capital Accounts An individual capital account shall be maintained for each Partner, and capital contributions to the Partnership by the Partners shall be credited to such accounts. Partnership profits or losses shall also be charged or credited to the separate capital accounts in the manner provided in this Agreement. No interest shall be paid on the capital account of any Partner.

  • Audited Accounts means the audited accounts of the Company and of each of the Subsidiaries and the audited consolidated group accounts of the Group for the financial period ended on the Balance Sheet Date;

  • Partnership Year means the fiscal year of the Partnership, which shall be the calendar year.

  • distribution losses means energy losses that result from the interaction of intrinsic characteristics of the distribution network such as electrical resistance with network voltages and current flows;

  • Tax Losses has the meaning assigned to such term in Section 7.1(a).

  • Agreed Deductions means any deductions the Agency Worker has agreed can be made from their pay;

  • Net Income (Loss) means with respect to any Person and for any period, the aggregate net income (or loss) after taxes of such Person for such period, determined in accordance with GAAP.

  • Financial Year means a year commencing on and including the 1st day of July;

  • Liquidating Losses means any net loss realized in connection with the actual or hypothetical sale of all or substantially all of the assets of the Partnership (including upon the occurrence of any event of liquidation of the Partnership), including but not limited to net loss realized in connection with an adjustment to the book value of Partnership assets under Section 6.2 hereof.

  • audited when used in regard to financial statements shall mean an examination of the financial statements by a firm of independent certified public accountants in accordance with generally accepted auditing standards for the purpose of expressing an opinion thereon.

  • Aggregate Net Losses means, with respect to a Collection Period, an amount equal to the aggregate Principal Balance of all Receivables that became Defaulted Receivables during such Collection Period minus all Net Liquidation Proceeds collected during such Collection Period with respect to all Defaulted Receivables.

  • Tax Revenues means the Personal Income Taxes and such other revenues, including Alternative Revenues (but excluding Building Aid), as the Authority may derive directly from the State from taxes imposed by the City or the State and collected by the State.

  • Operating Revenue Cash Flows means the Company’s cash flow from ownership and/or operation of (i) Properties, (ii) Loans, (iii) Permitted Investments, (iv) short-term investments, and (v) interests in Properties, Loans and Permitted Investments owned by any Joint Venture or any partnership in which the Company or the Partnership is, directly or indirectly, a co-venturer or partner.