Tax Difference definition

Tax Difference means, with respect to a Member for any tax year, the excess of SR Tax over such Member's CR Tax, if any.
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Tax Difference has the meaning set forth in Section 5.14(d).
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Tax Difference means an amount that must be refunded (credited) from the budget to a taxpayer where such an amount arises on the basis of a tax return completed by the taxpayer in accordance with the procedure laid down in the tax law” (Paragraph 12 (wording of 22 December 2011) of Article 2);
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Examples of Tax Difference in a sentence

  • In computing the Tax Difference, the amount of taxes payable by Executive shall be determined by assuming that the income recognized as a result of such exercise is taxed at the highest marginal federal and state income tax rates applicable to ordinary income.

  • In addition, the Corporation shall pay Executive an amount equal to the Tax Difference arising in respect of such exercise multiplied by a fraction, the numerator of which is 1 and the denominator of which is equal to 1 minus (i) the highest marginal federal income tax rate (currently 39.6%) and (ii) the highest marginal state income tax rate applicable to Executive, in each case in respect of ordinary income, in effect at the time of such exercise.

  • Cumulative Cash Flow Tax Difference shall be the cumulative difference in income tax payments, net of refunds, between the calculation of the C Taxes and S Taxes in each case made after the Base Date in 2002 and applicable to earnings of the Company on and after the Base Date in 2002, or which would be in the case of C Taxes, or are in the case of S Taxes, immediately due and payable, contemporaneously with the payment of any Distributions, as defined below.

  • Cumulative Cash Flow Tax Difference shall be the cumulative difference in income tax payments, net of refunds, between the calculation of the C Taxes and S Taxes in each case made after the Base Date in 2004 and applicable to earnings of the Company on and after the Base Date in 2004, or which would be in the case of C Taxes, or are in the case of S Taxes, immediately due and payable, contemporaneously with the payment of any Distributions, as defined below.

  • If, following such recomputation, a Present Subsidiary is liable to Enron for additional CR Tax or Tax Difference, the Present Subsidiary's intercompany payable account shall be increased so as to reflect such additional amount within ninety (90) days after the earlier of either of the following events which relate to such recomputation: (i) Enron files an amended Consolidated Return; or (ii) Enron settles an examination with the IRS.

  • If, following such recomputation, Enron is liable to a Present Subsidiary, as a Credit Member, for an increase in the portion of the total Tax Difference attributable to such Present Subsidiary, the Present Subsidiary's intercompany receivable account shall be credited by Enron so as to reflect such benefit.

  • Export-Weighted FTA (%) Tax Difference (%) Export-Weighted FTA (%) Tax Difference (%) In the first year after the RCEP comes into effect, China and South Korea will have the highest tax differences, indicating that there are greater potential preferential benefits in Japan's import tax rates for these two Parties.

  • The payment related to the Tax Difference made in accordance with the foregoing shall be treated as an adjustment to the Applicable Amount.

  • If any Tax Amount is negative, Seller and ▇▇▇▇▇▇▇▇, jointly and severally, shall be liable for and shall pay an amount equal to the absolute value of any Tax Difference to Buyer by wire transfer of immediately available funds.

  • If the Unitary Tax Difference is positive, then that amount shall be allocated to the Parent Company.


More Definitions of Tax Difference

Tax Difference means the excess, if any, of (i) the Participant’s combined marginal federal, state and local tax rate that will be applied to any payment hereunder over (ii) the combined marginal federal, state and local tax rate that would be applied to long term (if the Participant’s holding period in the Subject Interests as determined for U.S. federal income tax purposes is more than one year on the date of the triggering event under Section 3) or short term (if the Participant’s holding period in the Subject Interests as determined for U.S. federal income tax purposes is one year or less on the date of the triggering event under Section
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Tax Difference means the excess, if any, of (i) the Participant’s combined marginal federal, state and local tax rate that will be applied to any payment hereunder over (ii) the combined marginal federal, state and local tax rate that would be applied to long term (if the Participant’s holding period in the Subject Interests as determined for U.S. federal income tax purposes is more than one year on the date of the triggering event under Section 3) or short term (if the Participant’s holding period in the Subject Interests as determined for U.S. federal income tax purposes is one year or less on the date of the triggering event under Section 3) capital gains payments received by the Participant in the year a payment is made to the Participant hereunder.
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Related to Tax Difference

  • Difference means in an FX and CFD the difference in price upon the opening of a Transaction and the closing of such Transaction.

  • Book-Tax Disparity means with respect to any item of Contributed Property or Adjusted Property, as of the date of any determination, the difference between the Carrying Value of such Contributed Property or Adjusted Property and the adjusted basis thereof for federal income tax purposes as of such date. A Partner’s share of the Partnership’s Book-Tax Disparities in all of its Contributed Property and Adjusted Property will be reflected by the difference between such Partner’s Capital Account balance as maintained pursuant to Section 5.5 and the hypothetical balance of such Partner’s Capital Account computed as if it had been maintained strictly in accordance with federal income tax accounting principles.

  • Tax Adjustment has the meaning set forth in Section 4.7.

  • Book-Tax Disparities means, with respect to any item of Contributed Property or Adjusted Property, as of the date of any determination, the difference between the Carrying Value of such Contributed Property or Adjusted Property and the adjusted basis thereof for federal income tax purposes as of such date. A Partner’s share of the Partnership’s Book-Tax Disparities in all of its Contributed Property and Adjusted Property will be reflected by the difference between such Partner’s Capital Account balance as maintained pursuant to Exhibit B and the hypothetical balance of such Partner’s Capital Account computed as if it had been maintained strictly in accordance with federal income tax accounting principles.

  • Fair Market Value Excess With respect to each Mortgage Loan to be purchased pursuant to Section 10.01(a), the excess, if any, of the Fair Market Value Call Price for such Mortgage Loan, over the Par Call Price for such Mortgage Loan. Any Fair Market Value Excess will not become part of the related Group Available Funds, but shall instead be distributed directly to the Holders of the Class A-LR Certificates pursuant to Section 4.02(g).