Tax Liability definition

Tax Liability means the total taxes due to a municipal corporation for the taxable year, after allowing any credit to which the taxpayer is entitled, and after applying any estimated tax payment, withholding payment, or credit from another taxable year.

Tax Liability means a Liability for any Tax.

Tax Liability means any amount of tax or social security contributions for which a Participant would or may be liable and for which any Group Member or former Group Member would or may be obliged to (or would or may suffer a disadvantage if it were not to) account to any relevant authority;

Examples of Tax Liability in a sentence

• Capital Gains Tax Where units are cancelled to meet charges that are held within a Unit Trust or OEIC, the sale of units to meet charges could give rise to a Capital Gains Tax liability if you have fully utilised your annual allowance in the year in question.

• Each Contributor Party acknowledges that it and each of the other Equity Recipients shall be responsible for such Equity Recipient’s own Tax liability that may arise as a result of the Transactions.

• The Parties agree to fully cooperate with each other to enable each Party to more accurately determine its own Tax liability (insofar as it relates to the Services) and to minimize such liability to the extent legally permissible and administratively reasonable, including in connection with the tiling of any Tax return or claim for refund, provided that this does not result in material costs (including additional Taxes) for the other Party.

• Such notice shall attach copies of the pertinent portion of any written communication from a Tax Authority and contain factual information (to the extent known) describing any asserted Tax liability in reasonable detail and shall be accompanied by copies of any notice and other documents received from any Tax Authority in respect of any such matters.

• The failure of one Party to notify another of such communication in accordance with the immediately preceding sentences shall not relieve the other Party of any liability or obligation to pay such Tax or make indemnification payments under this Agreement, except to the extent that the failure to timely provide such notification materially prejudices the ability of such other Party to contest such Tax liability.

More Definitions of Tax Liability

Tax Liability means an Actual Tax Liability or a Deemed Tax Liability;

Tax Liability means any liability (whether known or unknown, whether absolute or contingent, whether liquidated or unliquidated, and whether due or to become due) with respect to Taxes.

Tax Liability means, in respect of any person:

Tax Liability means any liability or obligation for Taxes.

Tax Liability means any Liabilities related to Taxes.

Tax Liability means a liability of the Company to make a payment of or on account of Tax.

Tax Liability the total of (a) any income tax and primary class 1 (employee) national insurance contributions that any employer (or former employer) of the Participant is liable to account for (or reasonably believes it is liable to account for) as a result of any Taxable Event; and (b) any Employer NICs that any employer (or former employer) of the Participant is liable to pay (or reasonably believes it is liable to pay) as a result of any Taxable Event and that can be recovered lawfully from the Participant.