Sales Tax Credit definition

Sales Tax Credit means the credit against the Town’s Sales Tax in the amount of 1.10% on Taxable Transactions, as implemented pursuant to the Sales Tax Credit Ordinance.
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Sales Tax Credit and “Sales Tax Credits” mean as described in Section 4.1A.
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Sales Tax Credit means the credit against the City’s Sales Tax in the amount of 2.25% on Taxable Sales, as implemented pursuant to the Tax Credit Ordinance.
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Examples of Sales Tax Credit in a sentence

  • In the event the Sales Tax Credit and/or Accommodations Tax Credit established herein or the Credit PIF is determined by a final court decision to be unconstitutional, void, invalid, or ineffective for any cause, retailers shall immediately be required to collect and remit the full City Sales Tax as required by the Code and providers of accommodations shall immediately be required to collect and remit the full City Accommodations Tax as required by the Code.

  • In the event that District Bonds are not issued and District Pledged Revenues are applied to the payment or reimbursement of Eligible Costs in accordance with Section 4.7, the Sales Tax Credit shall terminate upon payment or reimbursement of Eligible Costs in an aggregate principal amount of $28,800,000 plus the payment or reimbursement of all Town Costs and Pre-Financing Costs in amounts not exceeding the amounts set forth in Sections 4.3(b) (iii) and 4.3(b) (iv).

  • The City Council hereby determines that the creation or termination of Sales Tax Credit and/or Accommodations Tax Credit does not constitute a tax increase, the imposition of a new tax, or a tax policy change directly causing a net tax revenue gain to the City.

  • Starting on June 1st 2021, the City anticipates based on current revenue projections the amounts passed through to the AFC will be as follows: Project Allocation $3,000,000 Annual Expected Sales Tax Credit Revenue: $654,000 Max Expected Quarterly Sales Tax Credit Revenue: $163,500 Year Date Quarter Expected Qtr.

  • Notwithstanding any language in any agreement to the contrary, if upon payment in full of the District Bonds, the Town determines that termination of the Sales Tax Credit may be precluded by or require a refund of the Sales Tax under Article X, Section 20 of the Colorado Constitution, the Town may submit a written request to Developer to continue to impose the Credit PIF.

  • CB-1924 – Sales Tax Credit Ordinance CR-34 – Xxxx’s Farm Public Finance Agreement April 8, 2019 STAFF RECOMMENDATION Staff is recommending that City Council approve CB-1924, an ordinance being presented on second reading and public hearing.

  • Notwithstanding the foregoing, the Town shall not remit any Pledged Tax Revenue to the Bond Trustee beyond the period the duration of the Sales Tax Credit within the Phase the Target is located as provided in Section 5.2. The District Bond Documents shall provide that any such Pledged Tax Revenue so remitted by the Town to the District Bond Trustee shall be pledged to the payment of the District Bond Requirements.

  • The Sales Tax Credit shall not apply to any King Soopers that is opened in the Project and the Town shall collect and retain all Sales Tax from any such King Soopers, without deduction or offset.

  • In adopting the Sales Tax Credit Ordinance, the Town is agreeing that it will grant a credit of 1.10% against the Town’s Sales Tax collected on Taxable Transactions within the Project only to the extent that the Credit PIF is collected from each retailer within the Project.

  • Except as hereinafter provided, the Sales Tax Credit shall terminate upon payment in full or defeasance of all outstanding District Bonds.


More Definitions of Sales Tax Credit

Sales Tax Credit means the credit against the Town’s Sales Tax in an amount equal to the Credit PIF imposed and collected on Taxable Transactions, in the amount of 2.4%, as implemented pursuant to the Sales Tax Credit Ordinance. Except as set forth in Section 3.3, the Sales Tax Credit shall not apply to any Taxable Transactions originating from within a Restricted Grocery Store or Relocated Retailer.
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Related to Sales Tax Credit

  • Input Tax Credit means the credit of input tax;

  • Tax Credit means a credit against, relief or remission for, or repayment of any Tax.

  • child tax credit means a child tax credit under section 8 of the Tax Credits Act 2002;

  • Production Tax Credit or “PTC” means the tax credit for electricity produced from certain renewable generation resources described in Section 45 of the Internal Revenue Code of 1986, as it may be amended or supplemented from time to time.

  • Sales Tax Revenues means taxes collected under the Virginia Retail Sales and Use Tax Act

  • Sales Tax means all applicable provincial and federal sales, use, value-added or goods and services taxes, including GST/HST;

  • Tax Credits means the low-income housing tax credits found in Section 42 of the Code, and all rules, regulations, rulings, notices and other promulgations thereunder.

  • working tax credit means a working tax credit under section 10 of the Tax Credits Act 2002;

  • Gross receipts tax means any gross receipts, sales, use, excise, value added or any similar tax.

  • Sales Taxes means any sales, use, consumption, goods and services, value added or similar tax, duty or charge imposed pursuant to Applicable Law.

  • Goods and Services Tax or “GST” means the goods and services tax chargeable under the Goods and Services Tax Act (Cap. 117A);

  • Transaction Payroll Taxes means the employer portion of any employment or payroll Taxes with respect to any bonuses, severance, option cashouts, Change in Control Payments or other compensatory payments in connection with the transactions contemplated by this Agreement, whether payable by Buyer, the Company or its Subsidiaries.

  • Integrated Goods and Services Tax Act means the Integrated Goods and Services Tax Act, 2017;

  • VAT means Value Added Tax

  • council tax benefit means council tax benefit under Part 7 of the SSCBA; “couple” has the meaning given by paragraph 4;

  • goods and services tax practitioner means any person who has been approved under section 48 to act as such practitioner;

  • Capacity Payment means a payment to a capacity provider under these Regulations for its commitment to meet a capacity obligation during a delivery year;

  • Volumetric Production Payments means production payment obligations recorded as deferred revenue in accordance with GAAP, together with all undertakings and obligations in connection therewith.

  • Agreement sales and use tax means a tax imposed under: (a) Subsection 59-12-103(2)(a)(i)(A);

  • UK Tax Deduction means a deduction or withholding for, or on account of, Tax imposed by the United Kingdom from a payment under a Loan Document.

  • Transaction Tax Deductions means any Tax deductions relating to (i) any pay down or satisfaction of Company Indebtedness or other Indebtedness, (ii) the payment or incurrence of any Transaction Expenses or Transaction Bonus Payments and (iii) any other deductible payments attributable to the Contemplated Transactions economically borne by the Seller. For this purpose, any success-based fees shall be treated as deductible in accordance with Rev. Proc. 2011-29.

  • Goods and Services Tax (Compensation to States) Act means the Goods and Services Tax (Compensation to States) Act, 2017;

  • Pre-Tax Income means income, as determined by GAAP, prior to deduction of the Bonus Pool (as hereinafter defined) and income taxes, and if applicable, after the deduction of any bonus pool of a future officer bonus plan adopted by the Company relating to an applicable Award Year and adjustments approved by the Board as described herein.

  • Base Tax Year means the property tax levy year used

  • input tax , in relation to a vendor, means—

  • GST means Goods and Services Tax charged on the supply of material(s) and services. The term “GST” shall be construed to include the Integrated Goods and Services Tax (hereinafter referred to as “IGST”) or Central Goods and Services Tax (hereinafter referred to as “CGST”) or State Goods and Services Tax (hereinafter referred to as “SGST”) or Union Territory Goods and Services Tax (hereinafter referred to as “UTGST”) depending upon the import / interstate or intrastate supplies, as the case may be. It shall also mean GST compensation Cess, if applicable.