Examples of Straddle Tax Return in a sentence
Not later than ten (10) days prior to the due date for filing any such Straddle Tax Return (other than a Straddle Tax Return relating to sales, use, payroll or other Taxes that is required to be filed contemporaneously with, or promptly after, the close of a Tax period), Buyer shall deliver a copy of such Tax Return, together with supporting documentation, to Seller for Seller’s review and reasonable comment.
Any portion of any Tax which must be paid in connection with the filing of a Straddle Tax Return, to the extent attributable to the portion of the underlying Straddle Period ending on (and including) the Closing Date shall be referred to herein as P re-Closing Straddle Taxes -Closing Straddle Taxes due with any Straddle Tax Returns at least ten (10) days before the date on which Buyer or the Company would be required to pay such Taxes.
In the event the Sellers’ Representative (on behalf of Sellers) reasonably disagrees with any aspect of a Straddle Tax Return that relates to a Tax liability for which Sellers would be responsible and provides written notice of such disagreement to Buyer within twenty (20) days after receipt of such Straddle Tax Return, time being of the essence, the disagreement will be resolved by the Auditor.
Buyer will cause such Straddle Tax Return (as revised to incorporate Sellers’ reasonable comments) to be filed timely with the appropriate Governmental Authority and will provide a copy to Sellers.
The Sellers shall be responsible for the portion of expenses for preparing any Straddle Tax Return equal to the product of such expenses and a fraction, the numerator of which is the number of days in the portion of the underlying Straddle Period ending on (and including) the Closing Date and the denominator of which is the total number of days in such Straddle Period.