S Corporation Taxable Income definition

S Corporation Taxable Income means, for periods beginning on or after the date the Company became an S corporation and ending with the close of the last day of the S Short Year, the sum of (i) the Company’s items of separately stated income and gain (within the meaning of Section 1366(a)(1)(A) of the Code) reduced, to the extent applicable, by the Company’s separately stated items of deduction and loss (within the meaning of Section 1366(a)(1)(A) of the Code) and (ii) the Company’s nonseparately computed net income (within the meaning of Section 1366(a)(l)(B) of the Code).
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S Corporation Taxable Income means the taxable income of the Company from all sources during the S Corporation Period.
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S Corporation Taxable Income has the meaning given in Section 4.10.
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Examples of S Corporation Taxable Income in a sentence

  • Tilly’s, the Company and the Shareholders agree that for tax purposes (including for purposes of determining the Company’s S corporation Taxable Income for its S Short Year) the Company shall allocate its items of income, gain, loss, deduction and credit for its calendar year between the S Short Year and the C Short Year in accordance with normal tax accounting rules (the so-called “closing of the books method”), as permitted by Section 1362(e)(3) of the Code.

  • IntroductionBEYOND THE 1040exercIse: whAt to fIND AND whAt to Dofrom ‘tAx returN INcome’ to recurrINg cAshflowSince the tax return was not designed to give creditors information about the cashflowavailable to potential borrowers , we have some adjustments to make to the ‘bottom line’ of the tax return...Ordinary income in a partnership or S corporation, Taxable Income (before NOL and special deductions) in a regular corporation.


More Definitions of S Corporation Taxable Income

S Corporation Taxable Income means, for periods beginning on or after the date ACSYS became an S corporation and ending with the S Short Year, the sum of (i) ACSYS' items of separately stated income and gain (within the meaning of section 1366(a)(1)(A) of the Code) reduced, to the extent applicable, by ACSYS' separately stated items of deduction and loss (within the meaning of section 1366(a)(1)(A) of the Code) and (ii) ACSYS' nonseparately computed net income (within the meaning of section 1366(a)(1)(B) of the Code).
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S Corporation Taxable Income of a Stockholder shall mean such Stockholder's allocable share of taxable income of the Company (or RTT) from all sources for all periods in which it and RTT qualified as an S Corporation for federal income tax purposes through and including the close of business on the last day of the S Short Year of the Company.
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S Corporation Taxable Income means, for periods beginning on or after the date Carrizo Production became an S corporation and ending with the Final Year, the sum of (i) Carrizo Production's items of separately stated income and gain (within the meaning of section 1366(a)(1)(A) of the Code) reduced, to the extent applicable, by Carrizo Production's separately
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S Corporation Taxable Income means taxable income (or loss) of ---------------------------- the Company from all sources during the period the Company was an S Corporation through and including the close of business on the last day of the S Short Year of the Company.
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S Corporation Taxable Income means, for periods beginning on or after the date Carrizo became an S corporation and ending with the S Short Year, the sum of (i) Carrizo's items of separately stated income and gain (within the meaning of section 1366(a)(1)(A) of the Code) reduced, to the extent applicable, by Carrizo's separately stated items of deduction and loss (within the meaning of section 1366(a)(1)(A) of the Code) and (ii) Carrizo's nonseparately computed net income (within the meaning of section 1366(a)(1)(B) of the Code).
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S Corporation Taxable Income taxable income (or loss) of the Corporation from all sources during the period the Corporation was an S Corporation through and including the close of business on the last day of the S Short Year of the Corporation;
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Related to S Corporation Taxable Income

  • Taxable income means, in the case of an individual, federal adjusted gross income determined without regard to 26 U.S.C. § 168(k) and:

  • MUNICIPAL TAXABLE INCOME means the following:

  • Net Taxable Income has the meaning set forth in Section 4.01(b)(i).

  • Consolidated federal taxable income means the consolidated taxable income of an affiliated group of corporations, as computed for the purposes of filing a consolidated federal income tax return, before consideration of net operating losses or special deductions. "Consolidated federal taxable income" does not include income or loss of an incumbent local exchange carrier that is excluded from the affiliated group under division (A)(1) of this section.

  • Taxable REIT Subsidiary means, as to Host REIT and with regard to Host REIT’s taxable years commencing after December 31, 2000, any of Fernwood, Rockledge or any other TRS of Host REIT, and, as to any Subsidiary REIT, any TRS of such Subsidiary REIT.

  • Distribution Taxes means any Taxes incurred solely as a result of the failure of the Intended Tax Treatment of the Restructuring, the Contribution or the Distribution.

  • Non-Income Tax means any Tax other than an Income Tax.

  • Post-Distribution Tax Period means a Tax period beginning and ending after the Distribution Date.

  • State Income Tax means any Tax imposed by any State of the United States (or by any political subdivision of any such State) or the District of Columbia, or any city or municipality located therein, which is imposed on or measured by net income, including state and local franchise or similar Taxes measured by net income, and any interest, penalties, additions to tax, or additional amounts in respect of the foregoing.

  • Consolidated federal income tax return means a consolidated return filed for federal income tax purposes pursuant to section 1501 of the Internal Revenue Code.

  • Non-Income Tax Return means any Tax Return relating to any Tax other than an Income Tax.

  • casual taxable person means a person who occasionally undertakes transactions involving supply of goods or services or both in the course or furtherance of business, whether as principal, agent or in any other capacity, in the taxable territory where he has no fixed place of business;

  • Taxable means either:

  • Publicly traded partnership means any partnership, an interest in which is regularly traded on an established securities market. A “publicly traded partnership” may have any number of partners.

  • Taxable Allocation means, with respect to any Series, the allocation of any net capital gains or other income taxable for federal income tax purposes to a dividend paid in respect of such Series.

  • Pre-Distribution Tax Period means any taxable period (or portion thereof) that ends on or before the Distribution Date.

  • Taxable Wage Base means the contribution and benefit base in effect under Section 230 of the Social Security Act at the beginning of the Plan Year.

  • Tax Group has the meaning set forth in Section 7.06(h)(iii).

  • Income Tax means any federal, state, local or foreign Tax (a) based upon, measured by or calculated with respect to net income, profits or receipts (including, without limitation, capital gains Taxes and minimum Taxes) or (b) based upon, measured by or calculated with respect to multiple bases (including, without limitation, corporate franchise taxes) if one or more of the bases on which such Tax may be based, measured by or calculated with respect to, is described in clause (a), in each case together with any interest, penalties, or additions to such Tax.

  • S corporation means a person that has made an election under subchapter S of Chapter 1 of Subtitle A of the Internal Revenue Code for its taxable year.

  • Consolidated Income Taxes means, with respect to any Person for any period, taxes imposed upon such Person or other payments required to be made by such Person by any governmental authority which taxes or other payments are calculated by reference to the income or profits of such Person or such Person and its Restricted Subsidiaries (to the extent such income or profits were included in computing Consolidated Net Income for such period), regardless of whether such taxes or payments are required to be remitted to any governmental authority.

  • Non-Income Taxes means any Taxes other than Income Taxes.

  • Disregarded Entity means a single member limited liability company, a qualifying subchapter S subsidiary, or another entity if the company, subsidiary, or entity is a disregarded entity for federal income tax purposes.

  • Tax Liability means the total taxes due to a municipal corporation for the taxable year, after allowing any credit to which the taxpayer is entitled, and after applying any estimated tax payment, withholding payment, or credit from another taxable year.

  • Taxable Period means any taxable year or other period that is treated as a taxable year with respect to which any Tax may be imposed under any applicable statute, rule or regulation.

  • Consolidated Net Income (Loss) of any Person means, for any period, the Consolidated net income (or loss) of such Person and its Subsidiaries for such period on a Consolidated basis as determined in accordance with GAAP, adjusted, to the extent included in calculating such net income (or loss), by excluding, without duplication, (i) all extraordinary gains or losses (exclusive of all fees and expenses relating thereto), (ii) the portion of net income (or loss) of such Person and its Subsidiaries on a Consolidated basis allocable to minority interests in unconsolidated Persons to the extent that cash dividends or distributions have not actually been received by such Person or one of its Subsidiaries, (iii) net income (or loss) of any Person combined with such Person or any of its Subsidiaries on a “pooling of interests” basis attributable to any period prior to the date of combination, (iv) any gain or loss, net of taxes, realized upon the termination of any employee pension benefit plan, (v) net gains (or losses) (except for all fees and expenses relating thereto) in respect of dispositions of assets other than in the ordinary course of business, (vi) the net income of any Subsidiary to the extent that the declaration of dividends or similar distributions by that Subsidiary of that income is not at the time permitted, directly or indirectly, by operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental regulation applicable to that Subsidiary or its stockholders, (vii) any gain arising from the acquisition of any securities, or the extinguishment, under GAAP, of any Indebtedness of such Person, (viii) transaction costs charged in connection with the Refinancing, or (ix) amortization of intangible assets of such Person and its Subsidiaries on a consolidated basis under GAAP.