Tax Capital Account definition

Tax Capital Account means, for any Holder at any time in any Fiscal Year, the Tax Capital Account balance of the Holder on the first day of the Fiscal Year, as adjusted each day pursuant to the provisions of Section 3.3 hereof.
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Tax Capital Account means, with respect to any Interestholder, the Capital Account maintained for such Interestholder on a daily basis in accordance with the following provisions:
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Tax Capital Account has the meaning set forth in Section 3.5 hereof.
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Examples of Tax Capital Account in a sentence

  • The initial balance of the Tax Capital Account of each Member shall be: 4.7.1 increased by: a.

  • The Company shall establish for each Member a Tax Capital Account (“Tax Capital Account”) for income tax purposes and a Book Capital Account for financial accounting purposes.

  • That reserve fund transfers totalling $2.5 million, $2,028,510.19 from the Debt Management Reserve Fund – Tax Capital (Account #37100) and$471,489.81 from the Federal GasTax Reserve Fund – Region (Account #35183), be approved.

  • The initial balance of the Tax Capital Account and the Book Capital Account for each Member shall be the Initial Capital Contribution made to the Company by such Member and shall be adjusted as provided in this Article IV.

  • Limited Partners shall be deemed admitted, additional Capital Contributions from existing Limited Partners shall be accepted, and a Book Capital Account and Tax Capital Account shall be established, with respect to the Interests established for each of the foregoing, as of each Subscription Acceptance Date or Additional Contributions Date, as appropriate, or as of the date of admission of a new General Partner.

  • The initial balance of the Tax Capital Account and the Book Capital Account for each Member shall be the initial capital contribution made to the Company by such Member and shall be adjusted as provided in this Article.

  • Any net loss in excess of that limitation shall be allocated to the other Partners in accordance with their Tax Capital Account balances.

  • In Budget 2018, the Government announced an investment of $55 million over two years (2018–2019 to 2019– 2020) in support of critical repair and maintenance work on the NCC’s portfolio of tangible capital assets.

  • The Company shall establish for each Member a capital account for income tax purposes ("Tax Capital Account") and a capital account for financial accounting purposes ("Book Capital Account").

  • The amendments advise on how to account for acquisitions of interests in joint operations.


More Definitions of Tax Capital Account

Tax Capital Account has the meaning set forth in Section 3.5 herein.
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Tax Capital Account has the meaning set forth in Section 11.08.
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Tax Capital Account means the individual account maintained by the Company with respect to each Member for purposes of tax accounting as provided in this Agreement.
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Tax Capital Account means, for any Member, its capital account on the books of the Fund with respect to its Shares maintained in accordance with Section 2.3 hereof.
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Tax Capital Account means a separate account maintained for each Member computed in the same manner as the Member's Capital Account but with the following modifications:
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Tax Capital Account means the adjusted basis for federal income tax purposes of a Partner’s Interest in the Partnership computed without taking into account debt share allocations under Code Section 752.
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Related to Tax Capital Account

  • Book Capital Account means, for any Holder at any time, the Book Capital Account of the Holder for such day, determined in accordance with Section 8.1 hereof.

  • Capital Account means, with respect to any Member, the Capital Account maintained for such Member in accordance with the following provisions:

  • Target Capital Account means the Capital Account of a Member as of the end of each fiscal year, increased by any amount that such Member is obligated to restore under this Agreement, is treated as obligated to restore under Treasury Regulations Section 1.704-1(b)(2)(ii)(c), or is deemed obligated to restore under the penultimate sentences of Treasury Regulations Section 1.704-2(g)(1) and (i)(5).

  • Economic Capital Account Balance has the meaning provided in Section 5.1(e) hereof.

  • Capital Account Limitation has the meaning set forth in Section 4.05(b) hereof.

  • Economic Capital Account Balances has the meaning set forth in Section 5.01(g) hereof.

  • Adjusted Capital Account means the Capital Account maintained for each Partner as of the end of each Fiscal Year (i) increased by any amounts which such Partner is obligated to restore pursuant to any provision of this Agreement or is deemed to be obligated to restore pursuant to the penultimate sentences of Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5) and (ii) decreased by the items described in Regulations Sections 1.704-1(b)(2)(ii)(d)(4), 1.704-1(b)(2)(ii)(d)(5) and 1.704-1(b)(2)(ii)(d)(6). The foregoing definition of Adjusted Capital Account is intended to comply with the provisions of Regulations Section 1.704-1(b)(2)(ii)(d) and shall be interpreted consistently therewith.

  • Capital Accounts An individual capital account shall be maintained for each Partner, and capital contributions to the Partnership by the Partners shall be credited to such accounts. Partnership profits or losses shall also be charged or credited to the separate capital accounts in the manner provided in this Agreement. No interest shall be paid on the capital account of any Partner.

  • Adjusted Capital Account Balance means, with respect to each Partner, the balance in such Partner’s Capital Account adjusted (i) by taking into account the adjustments, allocations and distributions described in Treasury Regulations Sections 1.704-1(b)(2)(ii)(c)(4), (5) and (6); and (ii) by adding to such balance such Partner’s share of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain, determined pursuant to Treasury Regulations Sections 1.704-2(g) and 1.704-2(i)(5), and any amounts such Partner is obligated to restore pursuant to any provision of this Agreement or by applicable Law. The foregoing definition of Adjusted Capital Account Balance is intended to comply with the provisions of Treasury Regulations Section 1.704-1(b)(2)(ii)(d) and shall be interpreted consistently therewith.

  • Virginia venture capital account means an investment fund that has been certified by the

  • Adjusted Capital Account Deficit means, with respect to any Member, the deficit balance, if any, in such Member’s Capital Account as of the end of the relevant Fiscal Year, after giving effect to the following adjustments:

  • Partially Adjusted Capital Account means, with respect to any Member for any taxable year or other period of the Company, the Capital Account balance of such Member at the beginning of such year or period, adjusted for all contributions and distributions made or deemed made to or by such Member during such year or period and all special allocations to such Member pursuant to Section 6.2 with respect to such year or period, but before giving effect to any allocations of Net Profit or Net Loss to such Member pursuant to Section 6.1 with respect to such year or period.

  • Taxable Allocation means, with respect to any Series, the allocation of any net capital gains or other income taxable for federal income tax purposes to a dividend paid in respect of such Series.

  • Tax Allocations means the allocations set forth in paragraph 4 of Exhibit B.

  • Member Nonrecourse Debt Minimum Gain means an amount, with respect to each Member Nonrecourse Debt, equal to the Company Minimum Gain that would result if the Member Nonrecourse Debt were treated as a Nonrecourse Liability, determined in accordance with Treasury Regulations Section 1.704-2(i)(3).

  • Liquidating Gains means any net gain realized in connection with the actual or hypothetical sale of all or substantially all of the assets of the Partnership (including upon the occurrence of any Liquidating Event or Terminating Capital Transaction), including but not limited to net gain realized in connection with an adjustment to the Gross Asset Value of Partnership assets under the definition of Gross Asset Value in Section 1 of this Agreement.

  • Additional Capital Contributions shall have the meaning set forth in Section 5.3.

  • Unreturned Capital Contributions means, as to each Member, the aggregate Capital Contributions made to the Company by such Member minus the aggregate distributions of such Capital Contributions made to such Member from the Company pursuant to Sections 3.2(b) and 6.2(a)(ii) hereof.

  • Additional Capital Contribution has the meaning set forth in Section 3.02.

  • Partner Nonrecourse Debt Minimum Gain has the meaning set forth in Treasury Regulation Section 1.704-2(i)(2).

  • Capital Distribution means a payment made, liability incurred or other consideration given for the purchase, acquisition, redemption or retirement of any capital stock or other equity interest of any Company or as a dividend, return of capital or other distribution (other than any stock dividend, stock split or other equity distribution payable only in capital stock or other equity of the Company in question) in respect of any Company's capital stock or other equity interest.

  • Class B Floating Allocation means, with respect to any Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Class B Investor Interest as of the close of business on the last day of the preceding Monthly Period and the denominator of which is equal to the Adjusted Investor Interest as of the close of business on such day; provided, however, that, with respect to the first Monthly Period, the Class B Floating Allocation shall mean the percentage equivalent of a fraction, the numerator of which is the Class B Initial Investor Interest and the denominator of which is the Initial Investor Interest.

  • Class B Adjusted Invested Amount means, with respect to any date of determination, an amount equal to the Class B Invested Amount less the positive difference, if any, between the Principal Funding Account Balance and the Class A Invested Amount on such date.