Step 2B: Alternative Minimum Tax Liability. Calculate the alternative minimum tax liability of each Member. The alternative minimum tax liability of a Member is equal to the difference of (but not less than zero) the (i) tentative minimum tax of the Member (calculated as provided in step 2A above) and (ii) the regular tax liability of the Member (calculated as provided in step 1 above) adjusted as provided in Code Section 55(c) (relating to foreign tax credits and other adjustments).
Appears in 3 contracts
Sources: Tax Sharing Agreement (Oncor Electric Delivery Co LLC), Contribution and Subscription Agreement (Oncor Electric Delivery Co LLC), Tax Sharing Agreement (Energy Future Holdings Corp /TX/)