SR Tax definition
SR Tax means, with respect to any tax year, the "separate return" tax liability of a Member as determined pursuant to Section 1.1552-1(a)(2)(ii) of the Treasury Regulations, except that such determination shall not take into account (i) any net operating losses or tax credits which are not utilized in the computation of Consolidated Tax Liability and (ii) any alternative minimum tax liability or (iii) any Consolidated Minimum Tax Credit.
SR Tax means with respect to a particular tax year the "separate return tax liability" of a Member as determined pursuant to Treas. Reg.