Tax Rate definition
Tax Rate means the rate imposed under section 51 of the income tax act of 1967, 1967 PA 281, MCL 206.51, for the tax year in which the tax year of the taxpayer for which the credit is being computed begins.
Tax Rate means Executive's effective tax rate based upon the combined federal and state and local income, earnings, Medicare and any other tax rates applicable to Executive, net of the reduction in federal income taxes which could be obtained by deduction of such state and local taxes.
Tax Rate means the highest marginal tax rates for an individual or corporation that is resident in New York City applicable to ordinary income, qualified dividend income or capital gains, as appropriate, taking into account the holding period of the assets disposed of and the year in which the taxable net income is recognized by the Company, and taking into account the deductibility of state and local income taxes as applicable at the time for federal income tax purposes and any limitations thereon including pursuant to Section 68 of the Code, which Tax Rate shall be the same for all Members and shall not be less than 45%.
Examples of Tax Rate in a sentence
The amounts of Tax Distributions shall be determined by the General Partner based on the assumption that income and gain allocated to the Partners from the Partnership are taxed at the Tax Rate, and otherwise based on such reasonable assumptions as the General Partner determines in its discretion and in good faith to be appropriate.
More Definitions of Tax Rate
Tax Rate means, for any taxable year of a Member, the sum of the Federal Rate and the State Rate, with (a) the "Federal Rate" defined to mean the highest effective federal income tax rate applicable to any individual for such year and (b) the "State Rate" defined as the product of (i) the highest effective state income tax rate applicable to an individual Member for such year multiplied by (ii) a percentage equal to the difference between one hundred percent (100%) and the Federal Rate.
Tax Rate means the highest marginal federal, state and local tax rate for an individual or corporation that is resident in Michigan, New York City or California (whichever is higher) applicable to ordinary income, qualified dividend income or capital gains, as appropriate, taking into account the holding period of the assets disposed of and the year in which the taxable net income is recognized by the Company, and taking into account the deductibility of state and local income taxes as applicable at the time for U.S. federal income tax purposes and any limitations thereon including pursuant to Section 68 of the Code or Section 164 of the Code, which Tax Rate shall be the same for all Members.
Tax Rate means the rate imposed under section 51 of the income tax act of 1967, 1967 PA 281, MCL 206.51, annualized as necessary, for the tax year in which the qualified alternative energy entity claims a credit under subsection (5).
Tax Rate of a Member, for any period, means the highest marginal blended federal, state and local tax rate applicable to ordinary income, qualified dividend income or capital gains, as appropriate, for such period for an individual residing in New York, New York, taking into account for federal income tax purposes, the deductibility of state and local taxes and any applicable limitations on such deductions.
Tax Rate means the rate imposed under sections 51, 51d, and 51e of the income tax act of 1967, 1967 PA 281, MCL 206.51, 206.51d, and 206.51e, for the tax year in which the tax year of the taxpayer for which the credit is being computed begins.