Total Tax Liability definition

Total Tax Liability means the total of all tax, penalties and/or interest owed by a taxpayer and shall include sales tax collected in excess of such tax computed on total sales.
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Total Tax Liability means the combined total of the transaction privilege tax, telecommunications services excise tax, and county excise tax liabilities.
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Total Tax Liability includes the Shareholders' aggregate federal and state tax liability, including any penalties, interest, fees or costs, arising solely from the Five Star Purchase.
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Examples of Total Tax Liability in a sentence

  • Total Tax Liability for the YearYour total tax liability for the year must equal line 12.

  • If the aggregate amount of Tax Distributions made in respect of such Fiscal Year exceeds the amount of the Hypothetical Total Tax Liability with respect to such Fiscal Year (based on the information returns filed by the Company), then Tax Distributions for subsequent Fiscal Years shall be reduced by the amount of such excess.

  • CALCULATING YOUR PROPERTY TAX Assessed Value = Just Value - Assessment Limits Taxable Value = Assessed Value - Exemptions Total Tax Liability = Taxable Value x Millage RateExample: Assume a homestead has a just value of $300,000, an accumulated $40,000 in Save Our Homes (SOH) protections, and a homestead exemption of $25,000 plus the additional $25,000 on non-school taxes.

  • The SNI Combined Group’s share of each Combined State Total Tax Liability (“SNI Group State Tax Liability”) will be based on the apportionment percentage of all members of the SNI Combined Group, determined with reference only to those companies that are subject to such state’s taxing jurisdiction, as if such members of the SNI Combined Group had filed a separate Combined Return.

  • Any Combined State Total Tax Liability in excess of the SNI Group State Tax Liability (“EWS Group State Tax Liability”) shall be the responsibility of EWS and EWS shall indemnify SNI and SNI Affiliates from and against the EWS Group State Tax Liability for all taxable years ending on or before December 31, 2007.

  • If the NextWave License Deposit, the NextWave Upfront Payment, and the Total Tax Liability together exceed $3.731 billion, NextWave agrees that it is not entitled to any reduction, offset, or refund of any payments.

  • Total Tax Liability ..................................................................................

  • If the total is greater than$25,000, you do not qualify for this credit.If the amount on line c below is:Enter decimal amount on line eoverLine 22—If the amount on Line 21 (Kentucky Tax Withheld) is more than the amount on Line 20 (Total Tax Liability), you have an overpayment and are due a refund.

  • If your Total Tax Liability on Line 20 is larger than Line 21, you owe additional tax.

  • This is your Total Tax Liability • 2930 (a) Enter Kentucky income tax withheld as shown on attached OFFICIAL USE ONLY PWR● Visit www.revenue.ky.gov for electronic payment options; or● Make check payable to Kentucky State Treasurer, include your Social Security number and “KY Income Tax—2013.” SECTION A—BUSINESS INCENTIVE AND OTHER TAX CREDITSA.


More Definitions of Total Tax Liability

Total Tax Liability means the Seller's aggregate US federal and state tax liability arising solely from the receipt by Seller of the U.S. Consideration. Seller will provide to USCO, as soon as practicable, all information reasonably necessary for USCO to verify the amount of the Total Tax Liability.
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Total Tax Liability shall be determined by assuming an effective tax rate equal to the maximum federal (net of any deduction for Massachusetts tax) and Massachusetts income tax rate applicable to individuals without consideration of the effect of any deductions, offsets or credits available to the Partner (or its direct or indirect partners or members) from other sources, and shall be appropriately adjusted to take into account the different tax rates that may be in effect for different taxable years.
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Total Tax Liability means the combined total of the transaction privilege tax,
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Total Tax Liability has the meaning set forth in Section 4. “True-Up Payment” has the meaning set forth in Section 9.
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Total Tax Liability means the (i) the state income tax, federal income tax and Social Security and Medicare tax liability estimated to be payable with respect to a Participant’s Total Change of Control Value and Severance Benefit and (ii) any excise tax liability under Section 4999 of the Code estimated to be payable with respect to the Participant’s Severance Benefit and the equity awards underlying the Participant’s Unvested Long-Term Incentives, disregarding for purposes of this excise tax calculation any other payments that may constitute a “Payment” as defined in Section 5.2(c) and determined as if the Participant terminated employment as of the date of the Change of Control. For purposes of calculating each Participant’s Total Tax Liability, applicable taxes are applied at the highest rate in effect at the time of the Change of Control and achievement of the Social Security wage base is disregarded.
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Related to Total Tax Liability

  • 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).

  • 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.

  • 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.

  • Assumed Tax Liability means, with respect to any Member, an amount equal to the excess of (i) the product of (A) the Distribution Tax Rate multiplied by (B) the estimated or actual cumulative taxable income or gain of the Company, as determined for federal income tax purposes, allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, less prior losses of the Company allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, in each case, as determined by the Manager and to the extent such prior losses are available to reduce such income over (ii) the cumulative Tax Distributions made to such Member after the closing date of the IPO pursuant to Sections 4.01(b)(i), 4.01(b)(ii) and 4.01(b)(iii) and, if applicable with respect to such Fiscal Year, pursuant to Section 4.1(a) of the Previous LLC Agreement; provided that, in the case of the Corporation, such Assumed Tax Liability (x) shall be computed without regard to any increases to the tax basis of the Company’s property pursuant to Sections 734(b) or 743(b) of the Code and (y) to the extent permitted under the Credit Agreements and applicable Law, shall in no event be less than an amount that will enable the Corporation to meet both its tax obligations and its obligations pursuant to the Tax Receivable Agreement for the relevant Taxable Year; provided further that, in the case of each Member, and for the avoidance of doubt, such Assumed Tax Liability shall take into account any Code Section 704(c) allocations (including “reverse” 704(c) allocations) to the Member.

  • State premium tax liability means any liability

  • Tax Liabilities means all liabilities for Taxes.

  • 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).

  • council tax benefit means council tax benefit under Part 7 of the SSCBA; “couple” has the meaning given by paragraph 4;

  • Combined Tax Return means a Tax Return filed in respect of U.S. federal, state, local or non-U.S. income Taxes for a Combined Group, or any other affiliated, consolidated, combined, unitary, fiscal unity or other group basis (including as permitted by Section 1501 of the Code) Tax Return of a Combined Group.

  • 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.

  • Income Tax Expense means, with respect to the Borrowers, for any period, the aggregate, without duplication, of all Taxes on the income of such Person for such period, whether current or deferred, determined on a Modified Consolidated Basis.

  • 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.

  • Net Tax Benefit has the meaning set forth in Section 3.1(b) of this Agreement.

  • Consolidated Income Tax Expense means, with respect to any Person for any period, the provision for federal, state, local and foreign income taxes of such Person and its Restricted Subsidiaries for such period as determined on a consolidated basis in accordance with GAAP.

  • Straddle Tax Period means a Tax period that begins on or before the Closing Date and ends thereafter.

  • Income Tax Return means any Tax Return relating to Income Taxes.

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

  • Final Tax Amount has the meaning set forth in Section 4.01(b)(ii).

  • Local taxes means all taxes levied other than taxes levied for school operating purposes.

  • Post-Distribution Tax Period means a Tax year beginning and ending after the Distribution Date.

  • 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.

  • Net After-Tax Benefit means the Present Value of a Payment net of all federal state and local income, employment and excise taxes imposed on Executive with respect thereto, determined by applying the highest marginal rate(s) applicable to an individual for Executive’s taxable year in which the Change in Control occurs.

  • Base Tax Year means the property tax levy year used

  • Rollback tax rate means the rate that will produce last year’s maintenance and operation tax levy (adjusted) from this year’s values (adjusted) multiplied by 1.08 plus a rate that will produce this year’s debt service from this year’s values (unadjusted) divided by the anticipated tax collection rate.

  • MUNICIPAL TAXABLE INCOME means the following:

  • Agreement combined tax rate means the sum of the tax rates: