Tax Qualified definition

Tax Qualified means qualified by the Code for preferential tax treatment under Code sections 401(a) and 501(a).
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Tax Qualified or “TQ” means a form of policy that conforms to certain standards in federal law and may offer certain federal tax advantages. TQ policies were created as a result of HIPAA, which included provisions for favorable tax treatment of qualified long term care insurance contracts. TQ policies are required to cover services for a chronically ill individual, and do not have a “medical necessity” benefit trigger. A TQ policy requires that a person 1) be expected to require care for at least 90 days, and be unable to perform 2 or more activities of daily living (eating, dressing, bathing, transferring, toileting, continence) without substantial assistance (hands on or standby); or 2) for at least 90 days, need substantial assistance due to a severe cognitive impairment. In either case a licensed healthcare professional must certify a plan of care.
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Tax Qualified means qualified by the Code for preferential tax treatment under Code §§ 401(a) and 501(a). “Tax Position” is defined in Section 10.2(d)(i)(A).
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Examples of Tax Qualified in a sentence

  • If a Tax Qualified Employee Plan, an IRA or TDA is applied for, the Applicant and/or Annuitant have received and reviewed the appropriate ERISA, IRA or TDA disclosure statements.

  • This provision is available for Tax Qualified Contracts if agreed to by Us.

  • Contract is a contract used primarily for retirement purposes that is not intended to qualify as a Tax Qualified Contract.

  • A contract used primarily for retirement purposes that is not intended to qualify as a Tax Qualified Contract.

  • The Plan’s most recent favorable IRS determination letter is dated June 27, 2013 and, to the Company’s Knowledge, no event has occurred since such date that is reasonably likely to result in the Plan losing its Tax Qualified status.

  • Tax Qualified Special Pay Plan The parties agree that the Rockford Public Schools will implement a tax qualified special pay plan under IRS Code 403(b) (AIG – Valic, special pay plan) for members of the bargaining unit represented by the Association.

  • The Tax Qualified Employee Stock Benefit Plan shall receive, without payment, Subscription Rights to purchase up to ten percent of the total offering of shares in the Subscription Offering.

  • A Tax Qualified Contract is a contract that is intended to qualify as part of a tax-advantaged retirement plan such as individual retirement annuities, tax-sheltered savings annuities or other tax-advantaged retirement plans.

  • The Trustee shall make payments to the MidAmerican Energy Company Tax Qualified Decommissioning Trust Fund created and existing pursuant to a certain trust agreement dated as of February 1, 1999 between the Company and the Trustee named therein within five business days of receipt of a Transfer Certificate.

  • Subject to the OTS’ right to object, the Foundation may be included as a Tax Qualified Employee Stock benefit Plan for purposes of the Subscription Offering.


More Definitions of Tax Qualified

Tax Qualified means qualified by the Code for preferential tax treatment under Code sections 401(a) and 501(a). “Transactions” means the transactions contemplated by this Agreement, including any payments pursuant to
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Tax Qualified plan this means that the plan has met all the requirements of the tax code and that all contributions to the plan are tax deductible to the employer.
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Related to Tax Qualified

  • suitably qualified person means a person who has professional qualifications, training, skills or experience relevant to the nominated subject matter and can give authoritative assessment, advice and analysis to performance relative to the subject matter using the relevant protocols, standards, methods or literature.

  • Independent Qualified Party means an investment banking firm, accounting firm or appraisal firm of national standing; provided, however, that such firm is not an Affiliate of the Company.

  • Legally Qualified Physician means a physician or a Christian Science Practitioner (a) other than an Insured, a Traveling Companion or a Family Member: (b) practicing within the scope of his or her license: and (c) recognized as a physician in the place where the services are rendered.

  • Data qualifier means a specified character (or string of characters) that immediately precedes a data field that defines the general category or intended use of the data that follows.

  • New Qualifying Jobs means the total number of jobs to be created by the Applicant after the Application Approval Date in connection with the project that is the subject of its Application that meet the criteria of Qualifying Job as defined in Section 313.021(3) of the TEXAS TAX CODE and the Comptroller’s Rules.