Tax Limits definition

Tax Limits means the limitations imposed on a Participant’s benefits under the Plan to satisfy the requirements of §401(a)(17), §402(g), or §415 of the Code.
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Tax Limits means both (1) the limit on compensation under Section 401(a)(17) of the Code (as adjusted from time to time under the terms of the Retirement Plan), and (2) the maximum benefit limit under Section 415(b)(1)(A) of the Code (as adjusted from time to time under the terms of the Retirement Plan).
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Tax Limits means both (i) the limit on compensation under Section 401(a)(17) of the Code (as adjusted from time to time under the terms of the Pension Plan), and (ii) the maximum benefit limit under Section 415(b)(1)(A) of the Code (as adjusted from time to time under the terms of the Pension Plan). CarMax, Inc.Benefit Restoration PlanAs Amended and Restated January 1, 2008 The following terms shall have the meanings provided in the Pension Plan: Actuarial Equivalent, Alternate Payee, Beneficiary, Benefit Service, Disability Pension, Early Retirement Date, Joint and Survivor Annuity Option, Normal Retirement Date, Period Certain and Continuous Option, Permanent Disability, Plan Year, Qualified Domestic Relations Order, Qualified Joint and Survivor Annuity, Qualified Pre-Retirement Survivor Annuity, Related Company, Single Life Annuity and Spouse.
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Examples of Tax Limits in a sentence

  • Comparison of Real Estate Tax Levies, Tax Limits and Tax Rates Levy Within Debt Debt Service Levy as aLevy Within Operating Limit as aPercentage of Rate Per Average Tax RateOperating ServicePercentage of OperatingOperating$100 of FullPer $100 ofFiscal Year Total Levy(1)LimitLevy(2)Total LevyLimitLimitValuation(3) Assessed Valuation (Dollars in Millions, except for Tax Rates)2010 .

  • Each participant in the Retirement Plan who is an employee of the Company or an Affiliated Company on or after the Effective Date, and whose retirement benefits under the Retirement Plan are limited by either or both of the Tax Limits, shall be a Participant.

  • See “SECTION X: OTHER INFORMATION—Litigation—Taxes.” Comparison of Real Estate Tax Levies, Tax Limits and Tax Rates Levy Within Operating Debt Service Debt Service Levy as aPercentage of OperatingLevy Within Operating Limit as aPercentage of Operating Rate Per$100 of Full Average Tax Rate Per $100 ofFiscal Year Total Levy(1)LimitLevy(2)Total LevyLimitLimitValuation(3) Assessed Valuation (Dollars in Millions, except for Tax Rates)2014 .

  • An individual shall cease to be a Participant when the individual's future retirement benefits under the Retirement Plan are no longer limited by either of the Tax Limits or when the individual and his or her Beneficiary have received all benefits payable under the Plan.

  • See “SECTION X: OTHER INFORMATION—Litigation—Taxes.”Comparison of Real Estate Tax Levies, Tax Limits and Tax Rates Levy Within Operating Debt Service Debt Service Levy as aPercentage of OperatingLevy Within Operating Limit as aPercentage of Operating Rate Per$100 of Full Average Tax Rate Per $100 ofFiscal Year Total Levy(1)LimitLevy(2)Total LevyLimitLimitValuation(3) Assessed Valuation (Dollars in Millions, except for Tax Rates)2013 .

  • An individual shall cease to be a Participant when the individual’s future retirement benefits under the Pension Plan are no longer limited by either of the Tax Limits and when the individual and his or her Beneficiary have received all benefits payable under the Plan.

  • Each participant in the Pension Plan who is an employee of the Company or an Affiliated Company on or after the Effective Date, and whose retirement benefits under the Pension Plan are limited by either or both of the Tax Limits, shall be a Participant.

  • A Participant shall commence participation in the Plan on the later of the Effective Date or the first day of the Plan Year beginning after the Participant’s future retirement benefits under the Pension Plan are limited by either or both of the Tax Limits.

  • A Participant shall commence participation in the Plan on the later of the Effective Date or the first day of the Plan Year beginning after the Participant's future retirement benefits under the Retirement Plan are limited by either or both of the Tax Limits.

  • In order for appliances to be approved for use in the Residence, they must bear a visible serial number and a CSA or RL identification tag.LEVEL 1a) Possession of equipment, keys, appliances or furnishings not authorized by the Residence or Cambrian College.LEVEL 3b) Theft or possession of stolen property.


More Definitions of Tax Limits

Tax Limits means both (1) the $150,000 (as adjusted) limit on compensation under Section 401(a)(17) of the Code, and (2) the maximum benefit limit of $90,000 (as adjusted) under Section 415(b)(1)(A) of the Code.
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Tax Limits means the limitations imposed on a Participant's benefits under the Retirement Plan to satisfy the requirements of ss.401(a)(17) or ss.415 of the Code.
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Related to Tax Limits

  • Tax Limitation Amount means the maximum amount which may be placed as the Appraised Value on the Applicant’s Qualified Property for maintenance and operations tax assessment in each Tax Year of the Tax Limitation Period of this Agreement pursuant to Section 313.054 of the TEXAS TAX CODE.

  • 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.

  • Actual Tax Liability means, with respect to any Taxable Year, the liability for Covered Taxes of the Corporation (a) appearing on Tax Returns of the Corporation for such Taxable Year and (b) if applicable, determined in accordance with a Determination (including interest imposed in respect thereof under applicable law).

  • Tax Limitation Period means the Tax Years for which the Applicant’s Qualified Property is subject to the Tax Limitation Amount and as further identified in Section 2.3.D of this Agreement.

  • Taxable income means, in the case of an individual, federal adjusted gross income determined without regard to 26 U.S.C. § 168(k) and:

  • Consolidated federal taxable income means the consolidated taxable income of an affiliated group of corporations, as computed for the purposes of filing a consolidated federal income tax return, before consideration of net operating losses or special deductions. "Consolidated federal taxable income" does not include income or loss of an incumbent local exchange carrier that is excluded from the affiliated group under division (A)(1) of this section.

  • Hypothetical Tax Liability means, with respect to any Taxable Year, the Hypothetical Federal Tax Liability for such Taxable Year, plus the Hypothetical Other Tax Liability for such Taxable Year.

  • Pre-Tax Earnings means the Corporation's earnings before income taxes as reported in the Company's Consolidated Income Statement for each fiscal year of the Performance Period, excluding any non-cash charge incurred in accordance with accounting principles generally accepted in the United States of America (GAAP) for any restricted stock or restricted stock unit awards granted during the Performance Period and all options, restricted stock and other equity compensation granted to Directors during the Performance Period.

  • Taxable Wage Base means, with respect to any Plan Year, the contribution and benefit base under Section 230 of the Social Security Act at the beginning of such Plan Year.

  • Tax Law Change means a change in or proposed change in, or amendment or proposed amendment to, the laws or regulations of the United Kingdom or any political subdivision or any authority thereof or therein having the power to tax, including any treaty to which the United Kingdom is a party, or any change in the application of official or generally published interpretation of such laws or regulations, including a decision of any court or tribunal, or any interpretation or pronouncement by any relevant tax authority that provides for a position with respect to such laws or regulations or interpretation thereof that differs from the previously generally accepted position in relation to similar transactions, which change or amendment becomes, or would become, effective on or after the Issue Date;

  • Tax Liabilities means all liabilities for Taxes.

  • Employee Taxes means all taxes, assessments, charges and other amounts whatsoever payable in respect of, and measured by the wages of, the Vendor’s employees (or subcontractors), as required by the Federal Social Security Act and all amendments thereto and/or any other applicable federal, state or local law.

  • Net Taxable Income has the meaning set forth in Section 4.01(b)(i).

  • 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.

  • MUNICIPAL TAXABLE INCOME means the following:

  • Pre-Tax Contributions means, for any Participant, the aggregate of the Participant's Basic Pre-Tax Contributions and Supplemental Pre-Tax Contributions contributed to the applicable Pre-Tax Contribution Account.

  • Tax Laws means the Code, federal, state, county, local or foreign laws relating to Taxes and any regulations or official administrative pronouncements released thereunder.

  • Tax Payments has the meaning set forth in the definition of Permitted Payments to Parent.

  • Pre-Tax Income means income, as determined by GAAP, prior to deduction of the Bonus Pool (as hereinafter defined) and income taxes, and if applicable, after the deduction of any bonus pool of a future officer bonus plan adopted by the Company relating to an applicable Award Year and adjustments approved by the Board as described herein.

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

  • Equity Adjustment means the dollar amount resulting by subtracting the Book Value, as of Bank Closing, of all Liabilities Assumed under this Agreement by the Assuming Bank from the purchase price, as determined in accordance with this Agreement, as of Bank Closing, of all Assets acquired under this Agreement by the Assuming Bank, which may be a positive or a negative number.

  • Tax Benefit Schedule is defined in Section 2.02 of this Agreement.

  • Payroll Taxes means State Unemployment Insurance (SUI), Federal Unemployment Insurance (FUI), and payments pursuant to the Federal Insurance Contributions Act (FICA).

  • Tax Benefit Payment is defined in Section 3.1(b) of this Agreement.

  • Transaction Payroll Taxes means all employer portion payroll or employment Taxes incurred in connection with any bonuses, option cash-outs or other compensatory payments in connection with the Transactions.

  • Non-Income Tax Return means any Tax Return relating to Taxes other than Income Taxes.