Tax Basis definition

Tax Basis means the same as defined in department of revenue 701—subrule 42.15(3).

Tax Basis means, with respect to any item of Company property, the adjusted basis of such property as determined in accordance with the Code.

Tax Basis means the adjusted tax basis determined for federal income tax purposes under Code Section 1011(a).

Examples of Tax Basis in a sentence

• Income Taxes-Current and Income Taxes-Deferred for the period are calculated based upon assumption that reversal from or transfer to Reserve for Tax Basis Adjustments of Fixed Assets by the disposal of Retained Earnings is made at the end of the fiscal year.

• If the Tax Basis of such property is zero, the Book depreciation, depletion, or amortization with respect to such property shall be computed by using a method consistent with the method that would be used for tax purposes if the Tax Basis of such property were greater than zero.

• The Lessee shall pay and assume liability for, and does hereby agree to indemnify, protect and defend the Property and all Tax Indemnitees, and hold them harmless against, all Impositions on an After Tax Basis.

• A cash distribution by the Fund in redemption of less than all of a Unitholder's Interests will reduce, but not below zero, the Unitholder's adjusted tax basis in all of his, her or its Interests held immediately before the distribution (see "Adjusted Tax Basis" below).

• A Unitholder who redeems for cash all of his, her or its Interests will recognize gain or loss measured by the difference between the amount realized on the sale and the Unitholder's adjusted tax basis in the Interests sold (see "Adjusted Tax Basis" below).

More Definitions of Tax Basis

Tax Basis means the adjusted tax basis determined for federal income tax purposes under Section 1011(a) of the Code.

Tax Basis means, with respect to any item of Joint Venture Company property, the adjusted basis of such property as determined in accordance with the Code.

Tax Basis means, with respect to any item of the Fund’s property, the adjusted basis of such property as determined in accordance with the Code.

Tax Basis means, with respect to any asset, its adjusted basis for Federal income tax purposes.

Tax Basis. The Partnership’s basis in any property for Federal income Tax purposes at the time of its contribution to the Partnership.

Tax Basis. [ ] Cash [X] Accrual

Tax Basis shall have the meaning ascribed thereto in Section 4.4(b).