Stand-Alone Tax definition

Stand-Alone Tax means an amount (which shall never be less than zero) computed as of the end of any month for the total U.S. federal, state, local, and foreign (but only to the extent that foreign taxes are imposed on the Subsidiary's income, but paid or payable by its Shareholder, or by the direct or indirect individual shareholder(s) of its Shareholder, to the foreign jurisdiction imposing such taxes on behalf of the Subsidiary) income taxes (a) for which direct or indirect individual shareholders of Subsidiary's Shareholder would be liable if such Shareholder's income was only from the items of income, gain, loss, deduction, or credit reportable by the Subsidiary for such tax purposes for the period beginning on the first day of such month and ending on the last day of such month, determined on an annualized basis, or (b) one twelfth (1/12) of the tax liability expected to be reported for the year, whichever is greater. The tax rates applied to such income are to be based on the maximum individual U.S. federal, state, local, and foreign income tax rates imposed by Section 1 of the Internal Revenue Code of 1986, as amended and as it may be amended, and by the equivalent provisions of the state, local, and foreign (but only to the extent that foreign taxes are imposed on the Subsidiary's income, but paid or payable by its Shareholder to the foreign jurisdiction imposing such taxes on behalf of the Subsidiary) income taxes (based on the assumption that all tax payments are subject to state or municipality). All of the preceding shall be computed without regard to phase-in and phase-out rules for minimum tax and alternative minimum tax, interest, and penalties, but shall include any surtax, and shall reflect the benefits of the deductibility of state and local income taxes and allowable tax credits in effect for each of the respective taxable periods. These tax payments will not recognize any future carry forward or carry back tax benefits to Paragon, A. B. Dick, Curtis, ITEK, and Curt▇▇ ▇▇▇.
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Stand-Alone Tax means an amount (which shall never be less than zero) computed as of the end of any month for the total U.S. federal, state, local and foreign (but only to the extent that foreign taxes are imposed on the Subsidiary's income, but paid or payable by its shareholder to the foreign jurisdiction imposing such taxes on behalf of the subsidiary) income taxes (a) for which Subsidiary's Shareholders would be liable if their income was only from the items of income, gain, loss, deduction or credit arising out of Subsidiary's business and operations for the period beginning on the first day of such month and ending on the last day of such month, determined on an annualized basis, or (b) one twelfth (1/12) of the tax liability expected to be reported for the year, whichever is greater. The tax rates applied to such income are to be based on the maximum individual, U.S. federal, state, local and foreign income tax rates imposed by Section 1 of the Internal Revenue Code of 1986, as amended and as it may be amended, and by the equivalent provisions of the state, local and foreign (but only to the extent that foreign taxes are imposed on the Subsidiary's income, but paid or payable by its Shareholder to the foreign jurisdiction imposing such taxes on behalf of the subsidiary) income taxes (based on the assumption that all tax payments are subject to state and local income tax at the domiciliary of the Shareholders in Ohio and no other state or municipality). All of the preceding shall be computed without regard to phase-in and phase-out rules for minimum tax and alternative minimum tax, interest and penalties, but shall include any surtax, and shall reflect the benefits of the deducibility of state and local income taxes and allowable tax credits in effect for each of the respective taxable periods. These tax payments will not recognize any future carry forward or carry back tax benefits to Continental Global Group, Continental Conveyor & Equipment Company and Good▇▇▇ ▇▇▇veyor Company.
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Stand-Alone Tax means an amount (which shall never be less than zero) computed as of the end of any quarter for the total U.S. federal, state, local and foreign (but only to the extent that such state, local or foreign taxes are imposed on the Subsidiaries' income, but paid or payable by the Shareholder to the jurisdiction imposing such taxes on behalf of the Subsidiaries) income taxes for which the Shareholder would be liable if its income was only from the items of income, gain, loss, deduction or credit arising out of the Subsidiaries' business and operations for the period beginning on the first day of such quarter and ending on the last day of such quarter, determined on an annualized basis, provided that the amount for the final quarter of any year shall be adjusted for any difference between amounts provisionally and finally determined for prior quarters. The tax rates applied to such income are to be based on the maximum corporate, U.S. federal, state, local and foreign income tax rates imposed by Section 11 of the Internal Revenue Code of 1986, as amended and as it may be amended, and by the equivalent provisions of the state, local and foreign (but only to the extent that state, local, foreign taxes are imposed on the Subsidiaries' income, but paid or payable by the Shareholder to the jurisdiction imposing such taxes on behalf of the Subsidiaries) income tax laws. All of the preceding shall be computed without regard to phase-in and phase-out rules for minimum tax and alternative minimum tax, interest and penalties, but shall include any surtax, and shall reflect the benefits of the deductibility of state and local income taxes and allowable tax credits in effect for each of the respective taxable periods. The computation of Stand-Alone Tax shall give effect to any carrybacks or carryovers of losses, credits, etc. that would be available to the Subsidiaries on a separate return basis.
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Examples of Stand-Alone Tax in a sentence

  • Parent shall prepare and file when due (taking into account any applicable extensions), or shall cause to be prepared and filed, all Joint Returns and all Parent Stand-Alone Tax Returns, including any amendments to such Tax Returns.

  • If an amended Centuri Stand-Alone Tax Return is required to be filed as a result of an amendment made to a Joint Return pursuant to an Adjustment, then the Parties shall cooperate to ensure that such amended Centuri Stand-Alone Tax Return can be prepared and filed in a manner that preserves confidential information including through the use of third-party preparers.

  • The Estimated Tax Payments owed by the NewCo Group or any of its members for any such taxable period (or portion thereof) shall be determined in accordance with the definition of NewCo Stand-Alone Tax Liability.

  • If the aggregate amount of Estimated Tax Payments made to Parent with respect to such taxable period exceeds the Match Stand-Alone Tax Liability for such taxable period, Parent shall pay to Match an amount equal to such excess.

  • If the Controlled Group has a negative Stand-Alone Tax Liability with respect to any Consolidated or Combined State Income Tax Return described in the preceding sentence, Controlled Co. shall be entitled to a payment from Distributing Co. to the extent provided in the last sentence of Section 5.3(b).

  • The Estimated Tax Payments owed by the Match Group or any of its members for any such taxable period (or portion thereof) shall be determined in accordance with the definition of Match Stand-Alone Tax Liability.

  • If the aggregate amount of Estimated Tax Payments made to Parent with respect to such taxable period exceeds the NewCo Stand-Alone Tax Liability for such taxable period, Parent shall pay to NewCo an amount equal to such excess.

  • In the case of any Consolidated or Combined State Income Tax Return originally filed after the Distribution Date, Controlled Co. shall be liable to Distributing Co. for the Controlled Group's positive Stand-Alone Tax Liability, if any, with respect to such Consolidated or Combined State Income Tax Return.

  • The Actual Unitary Tax Liability, Stand-Alone Tax Liability, and Resulting Tax Liability (along with any supporting workpapers) will be provided to the Reimbursing Partner for review at least thirty (30) days prior to the due date (including extensions) of the Unitary/Combined Tax Report of the Combined Reporting Partner (or its Affiliate) related to the applicable period.

  • With respect to any Distributing Co. Federal Consolidated Tax Return originally filed after the Distribution Date, Controlled Co. shall be liable to Distributing Co. for the Controlled Group's positive Stand-Alone Tax Liability, if any, with respect to such Distributing Co. Federal Consolidated Tax Return.


More Definitions of Stand-Alone Tax

Stand-Alone Tax means an amount computed as of the end of any Estimated Tax Period for the total U.S. federal and state income taxes for which Borrower's [stockholder/stockholders/members/partners] would be liable (or if losses are being incurred, refunds to which [he/she/it/they] would be entitled) if [his/her/its/their] income was only from the items of income, gain, loss, deduction or credit attributable to Borrower for the period beginning on the first day of such Estimated Tax Period and ending on the last day of such Estimated Tax Period, determined on an annualized basis. The tax rates applied to such income are to be based on the [Individual/Corporate] Rates described below; and
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Related to Stand-Alone Tax

  • Straddle Tax Period means any taxable period beginning on or before and ending after the Closing Date.

  • Applicable Taxes means the Goods and Services Tax (GST), the Harmonized Sales Tax (HST), and any provincial tax, by law, payable by Canada such as, the Quebec Sales Tax (QST) as of April 1, 2013.

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

  • Use tax means a nonrecurring tax, other than a sales tax, which (a) is imposed on or with respect to the exercise or enjoyment of any right or power over tangible personal property incident to the ownership, possession or custody of that property or the leasing of that property from another including any consumption, keeping, retention, or other use of tangible personal property and (b) is complementary to a sales tax.

  • Pre-Tax Income means income before income taxes, as publicly reported by the Company in its quarterly or annual financial statements, as applicable, prepared in accordance with generally accepted accounting principles. The financial statements shall mean the consolidated financial statements of the Company.