Separate Return Tax definition

Separate Return Tax means the tax on the Corporate Taxable Income of a corporation which is a Member computed for purposes of this Agreement as though such company were not a Member of a consolidated group.

Separate Return Tax means the federal income tax liability or federal income tax refund, computed with respect to the corporate taxable income or loss of a member of the Group as though the member were not a member of the Group. If the separate return tax is a liability, it shall be referred to as a "positive separate return tax." If the separate return tax is a refund, it shall be referred to as a "negative separate return tax."

Separate Return Tax has the meaning of separate return tax set forth in Reg. Section 250.45(c)(1) to Rule 45 under the Act.

Examples of Separate Return Tax in a sentence

• Penalties not specifically assigned pursuant to the previous sentence shall be allocated between the Parent and the Subsidiaries on a pro rata basis in accordance with their Separate Return Tax liabilities.

• The Parent shall at all times be responsible to pay its Separate Return Tax.

• If a Holding Company’sthe Parent’s Separate Return Tax is positive or zero, the excess of any Holding Company’sits positive Separate Return Tax over the amounts allocated to such Holding Companythe Parent pursuant to Section 4 (other than paragraph (c) or (d) thereof), or, if a Holding Company’sthe Parent’s Separate Return Tax is negative, the amount of negative Separate Return Tax allocated to such Holding Companythe Parent pursuant to Section 4 (other than paragraph (c) or (d) thereof).

• Separate Return Tax can be a negative amount if such entity has a negative Corporate Taxable Income or if the amount of allowable credits exceeds the tax on Corporate Taxable Income of such Subsidiary.

• Each Subsidiary with a positive Separate Return Tax shall be allocated an amount equal to its Separate Return Tax.

More Definitions of Separate Return Tax

Separate Return Tax means the tax on the corporate taxable income of a member computed as though the member were taxable as a corporation filing a separate tax return and were not a member of a consolidated group. For purposes of computing the separate return tax of a member which is a limited liability company, such member shall be considered to possess and be entitled to use losses, carryovers, tax credits and other tax attributes (1) attributable to a predecessor of such member taxable as a corporation or (2) arising while such member is a limited liability company.

Separate Return Tax is defined in Section 10.8.

Separate Return Tax has the meaning given such term in Section 9.2.

Separate Return Tax means the federal regular and alternative minimum income tax liability or federal income tax refund, computed with respect to the Corporate Taxable Income or Loss and Book Income of a Member as though the Member were not a Member, and without regard to whether the Member itself is an Applicable Corporation under the alternative minimum tax as provided in IRC section 55(b) if the Group is subject to the alternative minimum tax. If the Separate Return Tax is a liability, it shall be referred to as a "Positive Separate Return Tax." If the Separate Return Tax is a refund, it shall be referred to as a "Negative Separate Return Tax."

Separate Return Tax has the meaning set forth in Section 9.5(b). A “Series” of Class B Common Units means the Class B-1 Common Units, the Class B-2 Common Units, the Class B-3 Common Units or any other Class B Common Units that have the rights and preferences specified for a particular Series of Class B Common Units in a Class B Common Unit Designation. A “Series” of any of Class of New Units will be each Series, if any, described in the applicable New Units Designation.

Separate Return Tax means the tax on the Corporate Taxable Income of a corporation which Is a Member computed for purposes of this Policy as though such company were not a Member of the Consolidated Group. The Common Parent shall calculate each Member's federal income tax payable on a separate company basis in a manner consistent with the tax elections, methods of accounting and other positions taken on the consolidated federal income tax return.

Separate Return Tax is the tax on the corporate taxable income of a Party to this Agreement, including the effect of any particular feature of the tax law, differences in tax rates, investment tax credits, etc., applicable to it. Separate return tax may be either positive or negative. "Separate return taxable income" is the taxable income of a Party to this Agreement for a tax year, computed as though such party had filed a separate return on the same basis as used in the consolidated return, giving effect to intercompany transactions in the consolidated return in accordance with Treasury Regulations 1.1502-13, except that dividend income from any party shall be disregarded. "Separate return taxable loss" is the taxable loss of a party to this Agreement for a tax year, computed as though such party had filed a separate return on the same basis as used in the consolidated return giving effect to intercompany transactions in the consolidated return in accordance with Treasury Regulations 1.1502-13, except that dividend income from any party shall be disregarded.