S Taxable Year definition

S Taxable Year means any taxable year (or portion thereof) of the Company during which the Company was an S corporation, including the S Short Year.
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S Taxable Year means, with respect to each of the Company and Interface, any taxable period (or portion thereof) of such entity during which it was an S corporation. For the avoidance of doubt, S Taxable Year shall not include any taxable period (or portion thereof) of Interface during which it was a QSub.
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Examples of S Taxable Year in a sentence

  • The Company hereby agrees to indemnify and hold each of the Stockholders harmless from, against and in respect of any Tax Liability incurred by such Stockholder as a result of a Final Determination to the Company's tax returns that increases the Tax Liability of the Stockholder for an S Taxable Year in excess of amounts previously distributed to such Stockholder.

  • In the event of an adjustment to one or more tax returns of the Company for an S Taxable Year based on a Final Determination which results in a net increase in taxable income of a Stockholder and a corresponding adjustment to one or more tax returns of the Company for a C Taxable Year based on a Final Determination which results in a net decrease in taxable income of the Company, the Company shall pay to any Affected Stockholder an amount equal to the Adjustment Amount multiplied by the Blended Rate.

  • In addition, provided the Affected Stockholder originally reported its distributive share of income and other items of the Company from an S Taxable Year consistently with Schedule K-1 provided to him by the Company, the Company shall pay to the Affected Stockholder any penalties or interest actually paid by the Affected Stockholder as a result of the adjustment to such items giving rise to the Company's liability hereunder.

  • In addition, provided the Affected Stockholder originally reported its distributive share of income and other items of the Company from an S Taxable Year consistently with the Schedule K-1 provided to him by the Company, the Company shall pay to the Affected Stockholder any penalties or interest actually paid by the Affected Stockholder as a result of the adjustment to such items giving rise to the Company's liability hereunder.

  • On or before March 31, 2005, the Company shall make a payment to each Stockholder equal to the excess of (i) the product of (x) the Applicable Tax Percentage and (y) the net income of the Company as determined by reference to the Company’s Internal Revenue Service Form 1120S the Short S Taxable Year, over (ii) any prior distributions made to such Stockholder by the Company with respect to such net income.

  • In the event of an adjustment to one or more tax returns of the Company for an S Taxable Year based on a Final Determination which results in a net increase in taxable income of a Stockholder and a corresponding adjustment to one or more tax returns of the Company for a C Taxable year based on a Final Determination which results in a net decrease in taxable income of the Company, the Company shall pay to any Affected Stockholder an amount equal to the Adjustment Amount multiplied by the Blended Rate.

  • In the event of either (1) an Estimate Correction Adjustment in favor of a Stockholder and/or (2) an Adjustment for an S Taxable Year that results in a Tax Loss to a Stockholder, the Company hereby agrees to pay to such Stockholder an amount equal to such Stockholder’s Estimate Correction Amount and/or Tax Loss, as applicable, attributable to such Estimate Correction Adjustment and/or Adjustment.

  • If, in the course of any audit or other administrative proceeding relating to a Tax Return of a Stockholder or the Company, as the case may be, any Taxing Authority proposes any adjustment that, if determined pursuant to a Final Determination, would constitute an Adjustment for an S Taxable Year that results in a Tax Loss to the Stockholder (a “Proposed Adjustment”), the Stockholder, or the Company, as applicable, will provide notice of such Proposed Adjustment to the other relevant parties hereto.

  • In the event of an adjustment to one or more tax returns of the Company for an S Taxable Year based on a Final Determination which results in a net increase in taxable income of a Stockholder and a corresponding adjustment to one or more tax returns of the Company for a C Taxable Year based on a Final Determination which results in a net decrease in taxable income of the Company, the Company shall pay to the Affected Stockholder an amount equal to the Adjustment Amount multiplied by the Blended Rate.

Related to S Taxable Year

  • Taxable Year means a taxable year of the Corporate Taxpayer as defined in Section 441(b) of the Code or comparable section of state or local tax law, as applicable (and, therefore, for the avoidance of doubt, may include a period of less than 12 months for which a Tax Return is made), ending on or after the IPO Date.

  • 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.

  • Allocation Year Means (i) the period commencing on the Closing Date and ending on December 31, 2006, (ii) any subsequent period commencing on January 1 and ending on the following December 31, or (iii) any portion of the period described in clause (ii) for which the Company is required to allocate Profits, Losses and other items of Company income, gain, loss or deduction pursuant to Article V.

  • Taxable means either:

  • taxation year means the calendar year to which an assessment roll applies for the purposes of taxation;