Tax Percentage definition

Tax Percentage means the rate, for any Fiscal Year, that the AIFM determines is necessary to reflect (a) the highest marginal U.S federal income tax rates applicable to individuals, (b) the highest combined marginal local and state income tax rates applicable to any member or former member of the Special Shareholder who is an individual, assuming that such local and state taxes are not deductible in computing taxable income for U.S. federal income tax purposes, unless such taxes are deductible without limitation, and (c) the Medicare Contribution tax on net investment income. In computing the Tax Percentage, the AIFM may take into account any additional taxes or special rates, including the alternative minimum tax rates and rules, relating to the types of income and gain included in ICAV taxable income for such Fiscal Year in the Tax Percentage in proportion to each applicable type of income and gain of the ICAV and such other assumptions as the AIFM reasonably determines.

Tax Percentage means the highest, aggregate effective marginal rate of federal, state and local income tax or, when applicable, alternative minimum tax, to which any Partner of the Partnership would be subject in the relevant year of determination (as certified to the General Partner by the Accountants); provided, that in no event shall the Tax Percentage be greater than the sum of (x) the highest, aggregate effective marginal rate of federal, state and local income tax or, when applicable, alternative minimum tax, to which the Partnership would have been subject if it were a C corporation, for federal income tax purposes, and (y) 5 percentage points. If any Partner is an S corporation, partnership or similar pass-through entity for federal income tax purposes, the Tax Percentage shall be computed based upon the tax rates applicable to the owner of such Partner (with similar principles applying if such owner is itself a pass-through entity).

Tax Percentage means, for a particular taxable year, the highest effective marginal combined rate of Federal, state and local income tax, imposed on any Taxpayer, as certified by the Tax Amounts CPA in a certificate filed with the Agent. The rate of "state income tax" to be taken into account for purposes of determining the Tax Percentage for a particular taxable year shall be deemed to be the highest state marginal tax rate applicable to any Taxpayer.

Examples of Tax Percentage in a sentence

• Property Tax Percentage The Authority shall calculate each Party’s percentage of property taxes contributed to the county free library system (County Fund 11) (which shall sum to 100%), based on the County Auditor's office calculation of these amounts, including amounts allocated from the Special District Augmentation Board (SDAF), from the most recently completed fiscal year.

• No later than five (5) business days after the Disposition Proceeds Receipt Date, the Escrow Agent shall disburse the Disposition Proceeds among the Taxing Entities in proportion to their shares of the base property tax (the "Property Tax Percentage Shares"), as determined by the Auditor-Controller pursuant to Health and Safety Code Section 34188.

• The attached Exhibit C shows, for illustrative purposes only, the Property Tax Percentage Shares of the Taxing Entities that would have applied to a distribution by Project Area (OR Agency-wide) under this Section 6 had the distribution been made on January 1, 20__, as provided by the Auditor-Controller.

• Include the following exhibits: Exhibit A: Property Legal Description Exhibit B: List of Addresses for Notice Purposes Exhibit C: Illustrative Taxing Entities Property Tax Percentage Shares Exhibit D: Notice of Compensation Agreement Exhibit E: Release of Notice of Compensation Agreement A Notice of Compensation Agreement and a Release of Notice of Compensation Agreement will be required to be recorded by the County.

• The Partnership shall distribute to each Partner, on a quarterly basis an amount sufficient to cover all federal, state and local income taxes and, when applicable, alternative minimum tax (including required estimated payments), attributable to the special allocations to such Partner set forth in Section 5.1(a), the first sentence of Section 5.1(d), and Section 5.1(e), computed at the applicable Tax Percentage for such Partner for the relevant year of determination.

More Definitions of Tax Percentage

Tax Percentage has the meaning set forth in Section 5.2(a) of this Agreement.

Tax Percentage means the highest, aggregate effective marginal rate of federal, state and local income tax or, when applicable, alternative minimum tax, to which any Partner of the Company would be subject in the relevant year of determination (as certified to the Trustee by a nationally recognized tax accounting firm); provided, that in no event shall the Tax Percentage be greater than the sum of (x) the highest, aggregate effective marginal rate of federal, state, and local income tax or, when applicable, alternative minimum tax, to which the Company would have been subject if it were a C corporation, for federal income tax purposes, and (y) 5 percentage points. If any Partner or Upper Tier Owner of the Company is an S corporation, partnership or similar pass-through entity for federal income tax purposes, the Tax Percentage shall be computed based upon the tax rates applicable to the shareholder or partner of such Partner or Upper Tier Owner, as the case may be.

Tax Percentage means, for a particular taxable year, the highest effective marginal combined rate of federal and state income tax, imposed on an individual taxpayer, as certified by the Tax Amounts CPA in a certificate filed with the Trustee. The rate of "state income tax" to be taken into account for purposes of determining the Tax Percentage for a particular taxable year shall be deemed to be the higher of (a) the highest Connecticut income tax rate imposed on individuals for such year or (b) the sum of (i) the highest Michigan income tax rate imposed on individuals for such year and (ii) the Michigan intangibles tax rate.

Tax Percentage means, for a particular taxable year, the highest effective marginal combined rate of federal, state and local income tax, imposed on an individual or corporate taxpayer, whichever rate is higher, as certified by the Tax Amount CPA in a certificate filed with the Trustee. The rate of “state income tax” to be taken into account for purposes of determining the Tax Percentage for a particular taxable year shall be deemed to be the highest New York State income tax rate imposed on individuals or corporations for such year, whichever rate is higher. The rate of “local income tax” to be taken into account for purposes of determining the Tax Percentage for a particular taxable year shall be deemed to be the highest New York City income tax rate imposed on individuals or corporations for such year, whichever rate is higher.

Tax Percentage means (i) with respect to net long-term capital gain, the highest blended U.S. federal and state income tax rate applicable to such type of capital gain, and (ii) with respect to all other types of income and gain, the highest blended U.S. federal and state income tax rate applicable to ordinary income, in each case, taking into account the deductibility of state taxes for federal income tax purposes.

Tax Percentage means the highest, aggregate effective marginal rate of Federal, state and local income tax or, when applicable, alternative minimum tax, to which any Partner would be subject in the relevant year of determination (as certified to the General Partner by the Accountants); provided, however, that in no event shall the Tax Percentage be greater than the sum of (x) the highest, aggregate effective marginal rate of Federal, state, and local income tax, or when applicable, alternative minimum tax, to which the Partnership would have been subject if it were a C corporation for Federal income tax purposes, and (y) 5 percentage points. If any Partner is an S corporation, partnership, or similar pass-through entity for Federal income tax purposes, the Tax Percentage shall be computed based upon the tax rates applicable to the shareholder or partner of such Partner, as the case may be.

Tax Percentage means the highest, aggregate effective marginal rate of Federal, state and local income tax or, when applicable, alternative minimum tax, to which any Member would be subject in the relevant year of determination (as certified to the Members by the Accountants); provided, however, that in no event shall the Tax Percentage be greater than the sum of (x) the highest, aggregate effective marginal rate of Federal, state, and local income tax, or when applicable, alternative minimum tax, to which the LLC would have been subject if it were either an individual or a C corporation for Federal income tax purposes, and (y) 5 percentage points. If any Member is an S corporation, partnership, or similar pass-through entity for Federal income tax purposes, the Tax Percentage shall be computed based upon the tax rates applicable to the ultimate shareholder or partner of such Member, as the case may be.