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 means an amount to be refunded (set off) from the budget to the taxpayer, which may arise when completing a tax return in accordance with the procedure laid down in the tax law.
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Tax Difference has the meaning set forth in Section 5.14(d).
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Examples of Tax Difference in a sentence

  • 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.

  • 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.

  • 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.

  • If publicly held, the contractor must provide a copy of the corporation's most recent audited financial reports and statements, and the name, address and telephone number of the fiscally responsible representative of the contractor's financial or banking organization.

  • Tax avoidance can be calculated through Book Tax Difference (BTD).

  • The implementation of the RCEP will greatly promote the trade of furniture, toys, miscellaneous products between all Contracting Parties, reducing costs for Australian exporters.Table 8.1.28 Comparison of Export-Weighted MFN Tax Rate, FTA Tax Rate and Tax Difference between RCEP and Bilateral AgreementsCountry or RegionExport-Weighted MFN (%)RCEP Year1RCEP Year10Export-Weighted FTA (%)Data source: Schedule of Tariff Commitments of RCEP members.

  • 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 2006 and applicable to earnings of the Company on and after the Base Date in 2006, 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.


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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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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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).

  • Adjusted gross income means that term as defined in section 62 of the internal revenue code of 1986.

  • Estimated Adjustment Amount has the meaning set forth in Section 2.5(a).

  • Total After-Tax Payments means the total of all “parachute payments” (as that term is defined in Section 280G(b)(2) of the Code) made to or for the benefit of the Executive (whether made hereunder or otherwise), after reduction for all applicable federal taxes (including, without limitation, the tax described in Section 4999 of the Code).

  • Adjusted Fair Market Value means, in the event of a Change in Control, the greater of (i) the highest price per Share paid to holders of the Shares in any transaction (or series of transactions) constituting or resulting in a Change in Control or (ii) the highest Fair Market Value of a Share during the ninety (90) day period ending on the date of a Change in Control.

  • Unpaid estimated income tax means estimated income tax due but not paid by the date the tax is required to be paid under applicable law.

  • Base Taxes means the Taxes payable for the Base Tax Year.

  • Adjustment Percentage means, with respect to any Loan, the quotient (expressed as a decimal) of the Loan Value for such Loan divided by the Cut-Off Date Unpaid Principal Balance of such Loan.

  • Apportionment Fraction With respect to each Class of Subordinate Certificates and for any Distribution Date, in the event that the Class Principal Balances of the Senior Certificates of any Certificate Group have been reduced to zero, a fraction the numerator of which is equal to the sum of the Subordinate Optimal Principal Amount of the Loan Group (or Groups) related to such Certificate Group (or Groups), and the denominator of which is equal to the Aggregate Subordinate Optimal Principal Amount.

  • Modified adjusted gross income means “federal adjusted gross income”:

  • Consolidated Cash Taxes means, for any period, for the Borrower and its Subsidiaries on a consolidated basis, the aggregate of all taxes, as determined in accordance with GAAP, to the extent the same are paid in cash during such period.

  • Consolidated Group Pro Rata Share means, with respect to any Investment Affiliate, the percentage of the total equity ownership interests held by the Consolidated Group in the aggregate, in such Investment Affiliate determined by calculating the greater of (i) the percentage of the issued and outstanding stock, partnership interests or membership interests in such Investment Affiliate held by the Consolidated Group in the aggregate and (ii) the percentage of the total book value of such Investment Affiliate that would be received by the Consolidated Group in the aggregate, upon liquidation of such Investment Affiliate, after repayment in full of all Indebtedness of such Investment Affiliate.

  • Tax Date means the date any withholding tax obligation arises under the Code for a Participant with respect to an Incentive Award.

  • Base taxable value means the agreed value specified in a resolution or interlocal agreement under Subsection 17C-1-102(8) from which tax increment will be collected.

  • SF1-4 Intrinsic Loss Estimate means total losses under this Single Family Shared-Loss Agreement in the amount of eleven million dollars ($11,000,000.00).

  • Net Adjustment Amount means an amount, which may be positive or negative, equal to the Closing Net Working Capital as finally determined pursuant to this Section 2.9 minus the Preliminary Net Working Capital as set forth on the Preliminary Closing Statement;

  • Post-Closing Adjustment Amount has the meaning set forth in Section 1.9.3.

  • Intrinsic Loss Estimate means total losses under the shared loss agreements in the amount of One hundred Sixty-eight million dollars ($168,000,000.00).

  • True-Up Adjustment means any Annual True-Up Adjustment or Interim True-Up Adjustment, as the case may be.

  • Effective tax rate means the rate that will produce last year’s total tax levy (adjusted) from this year’s total taxable values (adjusted). “Adjusted” means lost values are not included in the calculation of last year’s taxes and new values are not included in this year’s taxable values.

  • Unadjusted Principal Distribution Amount As defined in the definition of “Principal Distribution Amount.”

  • Base Tax Year means the property tax levy year used