Deferred Tax Liability Sample Clauses

A Deferred Tax Liability clause outlines the obligation of a company to pay taxes in the future due to temporary differences between the accounting value of assets or liabilities and their tax base. This clause typically applies when income is recognized in the financial statements before it is taxable, such as with accelerated depreciation for tax purposes compared to accounting depreciation. Its core function is to ensure that financial statements accurately reflect future tax obligations, promoting transparency and compliance with accounting standards.
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Deferred Tax Liability. Notwithstanding the foregoing, the Shareholders shall not be responsible for any portion of any deferred tax liability which may be recorded on the balance sheet of Delta upon termination of the S corporation status.
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Deferred Tax Liability. Stockholders hereby agree to make the election for installment sales treatment in respect of the Contingent Payments hereunder. The Purchase Price shall be subject to upward adjustment for (and ▇▇▇▇▇ shall pay to Stockholders promptly following notification from Stockholders of the amount thereof, but in any event not later than five (5) Business Days prior to the due date of the payment of such amount) an amount equal to (i) the interest imposed under IRC Section 453A (if any) on Stockholders' deferred tax liability relating to the sale of the Shares and (ii) any Taxes imposed with respect to the receipt of any payments pursuant to this Section 2.3(c). In addition, following a final determination that the installment sales method to Stockholders is not available with respect to any portion of the Purchase Price received after the close of the taxable year in which the Closing Dates occurs, ▇▇▇▇▇ shall pay to Stockholders or on their behalf any penalty and interest owing in respect thereof within five (5) Business Days prior to the due date of the payment of such amount.
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Deferred Tax Liability. Notwithstanding the foregoing, the Stockholders shall not be responsible for any portion of any deferred tax liability which may be recorded on the balance sheet of Premier upon termination of the S corporation status.
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Deferred Tax Liability. In the event Stockholders elect installment sales treatment in respect of the Purchase Price Adjustment hereunder, Stockholders shall notify D▇▇▇▇ of such election no later than December 31, 2000. The Purchase Price shall be subject to upward adjustment for (and D▇▇▇▇ shall pay to Stockholders promptly following notification from Stockholders of the amount thereof, but in any event not later than five (5) Business Days prior to the due date of the payment of such amount) an amount equal to (i) the interest imposed under IRC Section 453A (if any) on Stockholders' deferred tax liability relating to the sale of the Shares and (ii) any Taxes imposed with respect to the receipt of any payments pursuant to this Section 2.4. In addition, following a final determination that the installment sales method to the Stockholders is not available with respect to any portion of the Purchase Price received after the close of the taxable year in which the Closing Date occurs, D▇▇▇▇ shall pay to the Stockholders or on their behalf any penalty and interest owing in respect thereof within five (5) Business Days prior to the due date of the payment of such amount.
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Related to Deferred Tax Liability

  • Tax Liability The Authorized Participant shall be responsible for the payment of any transfer tax, sales or use tax, stamp tax, recording tax, value added tax and any other similar tax or government charge applicable to the creation or redemption of any Basket made pursuant to this Agreement, regardless of whether or not such tax or charge is imposed directly on the Authorized Participant. To the extent the Trustee, the Sponsor or the Trust is required by law to pay any such tax or charge, the Authorized Participant agrees to promptly indemnify such party for any such payment, together with any applicable penalties, additions to tax or interest thereon.

  • Income Tax Liability Within ten (10) Business Days after the receipt of revenue agent reports or other written proposals, determinations or assessments of the IRS or any other taxing authority which propose, determine or otherwise set forth positive adjustments to the Tax liability of, or assess or propose the collection of Taxes required to have been withheld by, the Borrower which equal or exceed $100,000 in the aggregate, telephonic or facsimile notice (confirmed in writing within five (5) Business Days) specifying the nature of the items giving rise to such adjustments and the amounts thereof;

  • Tax Liabilities The Investor understands that it is liable for its own tax liabilities.

  • Amended Tax Returns (a) Subject to Section 4.4 and notwithstanding Section 2.1 and Section 2.2, a Party (or its Subsidiary) that is entitled to file an amended Tax Return for a Pre-Distribution Tax Period or a Straddle Tax Period for members of its Tax Group shall be permitted to prepare and file an amended Tax Return at its own cost and expense; provided, however, that (i) such amended Tax Return shall be prepared in a manner consistent with (and the Parties and their Affiliates shall not take any position inconsistent with) past practices of the Parties and their Affiliates or supported by an unqualified reasoned “should” or “will” opinion of a Qualified Tax Advisor, unless otherwise modified by a Final Determination or required by applicable Law, the IRS Ruling, the Tax Representation Letters, or the Tax Opinions; and (ii) if such amended Tax Return could result in one or more other Parties becoming responsible for a payment of Taxes pursuant to Article III or a payment to a Party pursuant to Article IX, such amended Tax Return shall be permitted only if the consent of such other Parties is obtained. The consent of such other Parties shall not be withheld unreasonably and shall be deemed to be obtained in the event that a Party (or its Subsidiary) is required to file an amended Tax Return as a result of an Audit adjustment that arose in accordance with Article IX. (b) A Party (or its Subsidiary) that is entitled to file an amended Tax Return for a Post-Distribution Tax Period, shall be permitted to do so at its own cost and expense and without the consent of any Party. (c) A Party that is permitted (or whose Subsidiary is permitted) to file an amended Tax Return, shall not be relieved of any liability for payments pursuant to this Agreement notwithstanding that another Party consented thereto.

  • Company Tax Returns The Company shall file all tax returns, if any, required to be filed by the Company.