Not exact matches
Section 162 (m) of the Internal Revenue Code imposes limitations on the deductibility for corporate
federal income
tax purposes of remuneration
in excess of $ 1 million paid to the chief executive officer, chief financial officer and each of the three next most highly compensated executive officers of a public company.
You were married
in a state that recognizes same - sex marriage, you are considered «married» for
Federal income
tax purposes.
Persons that for U.S.
federal income
tax purposes are treated as a partner
in a partnership holding shares of our Class A common stock should consult their
tax advisors.
Our post-offering organizational structure will allow the Continuing LLC Owners to retain their equity ownership
in Desert Newco, an entity that is classified as a partnership for U.S.
federal income
tax purposes,
in the form of LLC Units.
The IRS also says
in Notice 2014 - 21, «For
federal tax purposes, virtual currency is treated as property.
Individuals
in other arrangements, such as civil unions, registered domestic partnerships, or other similar arrangements, that aren't recognized as a valid marriage under relevant state law won't be treated as married or as spouses as defined
in this policy for
federal tax purposes.
The 2016 Plan has been designed to permit the administrator to grant certain awards
in its discretion that qualify as performance - based for
purposes of satisfying the conditions of Section 162 (m), thereby permitting us to receive a
federal income
tax deduction
in connection with such awards.
It does not discuss all aspects of U.S.
federal income taxation that may be relevant to particular holders
in light of their particular circumstances or to holders subject to special rules under the Code (including, but not limited to, insurance companies,
tax - exempt organizations, financial institutions, broker - dealers, partners
in partnerships (or entities or arrangements treated as partnerships for U.S.
federal income
tax purposes) that hold HP Co. common stock, pass - through entities (or investors therein), traders
in securities who elect to apply a mark - to - market method of accounting, stockholders who hold HP Co. common stock as part of a «hedge,» «straddle,» «conversion,» «synthetic security,» «integrated investment» or «constructive sale transaction,» individuals who receive HP Co. or Hewlett Packard Enterprise common stock upon the exercise of employee stock options or otherwise as compensation, holders who are liable for the alternative minimum
tax or any holders who actually or constructively own 5 % or more of HP Co. common stock).
It is a condition to the distribution that HP Co. receive (i) a private letter ruling from the IRS and / or one or more opinions from its external
tax advisors,
in each case, satisfactory to HP Co.'s board of directors, regarding certain U.S.
federal income
tax matters relating to the separation and related transactions, and (ii) an opinion of each of Wachtell, Lipton, Rosen & Katz and Skadden, Arps, Slate, Meagher & Flom LLP, satisfactory to HP Co.'s board of directors, regarding the qualification of the distribution, together with certain related transactions, as a transaction that is generally
tax - free, for U.S.
federal income
tax purposes, under Sections 355 and 368 (a)(1)(D) of the Code.
We believe that the Continuing LLC Owners generally find it advantageous to hold their equity interests
in an entity that is not taxable as a corporation for U.S.
federal income
tax purposes.
Accordingly, notwithstanding receipt of the IRS private letter ruling and / or opinions of counsel or other external
tax advisors, the IRS could determine that the distribution and certain related transactions should be treated as taxable transactions for U.S.
federal income
tax purposes if it determines that any of the facts, assumptions, representations, statements or undertakings that were included
in the request for the IRS private letter ruling or on which any opinion was based are false or have been violated.
Investors participating
in this offering will, by contrast, hold equity
in GoDaddy Inc., a Delaware corporation that is a domestic corporation for U.S.
federal income
tax purposes,
in the form of shares of our Class A common stock.
Our post-offering organizational structure will allow the Continuing LLC Owners to retain their equity ownership
in Desert Newco, an entity that is classified as a partnership for U.S.
federal income
tax purposes,
in
Furthermore, we will calculate the state and local income
tax savings by applying this 5 % rate to the reduction
in our taxable income, as determined for U.S.
federal income
tax purposes, as a result of the
tax attributes subject to the TRAs.
In addition, certain events that may or may not be within the control of HP Inc. or Hewlett Packard Enterprise could cause the distribution and certain related transactions to not qualify for
tax - free treatment for U.S.
federal income
tax purposes.
The group incentive nature of employee stock ownership and profit sharing makes this an effective way to create and reinforce a sense of common
purpose, and to encourage higher commitment and productivity.23 It is also the case with ESOPs that the new ownership might not be viewed by the firm
in the same way as other added compensation because the ownership is financed through loans to buy new capital as company stock, with
Federal tax incentives, and the shares are not paid as normal wages and benefits out of company budget reserved for this
purpose.
However, individuals
in other arrangements, such as civil unions, registered domestic partnerships, or other similar arrangements, that are not recognized as marriage under the relevant state law, will not be treated as married or as spouses as defined
in this policy for
federal tax purposes.
The potential
tax benefits from investing
in MLPs depend on their being treated as partnerships for
federal income
tax purposes and, if the MLP is deemed to be a corporation, then its income would be subject to
federal taxation at the entity level, reducing the amount of cash available for distribution to the fund which could result
in a reduction of the fund's value.
Marriott International said it anticipates the receipt of an IRS private - letter
tax ruling
in September, confirming that the distribution of shares of Marriott Vacations Worldwide common stock will not result
in the recognition, for U.S.
federal income
tax purposes, of income, gain or loss by Marriott International or Marriott International shareholders, except,
in the case of Marriott International shareholders, for cash received
in lieu of fractional shares.
The change
in the current
tax law regarding MLPs could result
in the MLP being treated as a corporation for
federal income
tax purposes which would reduce the amount of cash flows distributed by the MLP.
Any Social Security that is included
in your Adjusted Gross Income (AGI) for
federal purposes can be subtracted out of your AGI on your South Carolina
tax return.
• the Trust fails to qualify for treatment, or ceases to be treated, as a grantor trust for US
federal income
tax purposes, and the Trustee receives notice from the Sponsor that the Sponsor determines that, because of that
tax treatment or change
in tax treatment, termination of the Trust is advisable;
the Trust fails to qualify for treatment, or ceases to be treated, as a grantor trust for US
federal income
tax purposes, and the Trustee receives notice from the Sponsor that, because of that
tax treatment or change
in tax treatment, termination of the Trust is advisable;
In the past he has advocated for federal spending as a means of promoting economic growth and he believes in providing tax incentives to businesses for the purpose of job creatio
In the past he has advocated for
federal spending as a means of promoting economic growth and he believes
in providing tax incentives to businesses for the purpose of job creatio
in providing
tax incentives to businesses for the
purpose of job creation.
«I believe that it is important that the Treasury and the IRS issue guidance or a formal opinion letter whether taxpayer contributions to state authorized trust funds, partially reimbursed by credits reducing state and local income
taxes, will be considered deductible for
federal tax purposes,» Faso wrote
in the letter.
Upon dissolution or winding up of said corporation's affairs, whether voluntary or involuntary, all of its assets then remaining
in the hands of the board of directors shall, after paying or making provision for payment of all of said corporation's liabilities, be distributed, transferred, conveyed, delivered, and paid over only to educational, scientific, literary, or charitable organizations that are exempt from
federal income
tax under section 501 (c)(3) of the Internal Revenue Code of 1986, as amended, and which are not private foundations within the meaning of section 509 (a) of the Internal Revenue Code of 1986, as amended, on whatever terms and conditions and
in whatever amounts the board of directors may determine, for use exclusively for educational, scientific, literary, or charitable
purposes, except that no distribution shall be made to organizations testing for public safety.
Consistent with IRS guidelines, only the excess of the contribution over the fair market value of any items received
in exchange for a contribution is deductible for
federal tax purposes.
In certain circumstances, the U.S. Internal Revenue Code requires that individual income taxpayers report the refund of excess state or local income
tax payments received by the taxpayer as income for
federal income
tax purposes.
In this case, the
purpose is NOT to limit
federal estate
taxes but rather to enhance the likelihood of qualifying for «need based» Medicaid benefits without having to «spend down» the estate assets.
After the ruling, any same - sex couple that was married
in a state that recognized same - sex marriage would then be treated as married for
federal tax purposes.
An employee working
in the state is not required to file a separate W - 4 for state
tax withholding
purposes, unless the employee claims a smaller number of exemptions from those claimed for
federal tax withholding
purposes.
3 If you make the five - year election to prorate a lump - sum contribution that exceeds the annual
federal gift
tax exclusion amount and you die before the end of the five - year period, the amounts allocated to the years after your death will be included
in your gross estate for
tax purposes.
The
federal government determined that millions
in taxes were being drained off each year because of the way investment property sales have been treated for
tax purposes.
It stated, ``... the IRS will not assert that any taxpayer has understated his
federal tax liability by reason of the receipt or personal use of frequent flyer miles or other
in - kind promotional benefits attributable to the taxpayer's business or official travel... This relief does not apply to travel or other promotional benefits that are converted to cash, to compensation that is paid
in the form of travel or other promotional benefits, or
in other circumstances where these benefits are used for
tax avoidance
purposes.»
Any amount of debt forgiven by a creditor is generally considered to be income for
tax purposes, so you will have to pay
taxes on the amount forgiven when you file your
federal income
tax return
in the year the debt forgiveness occurs.
A second level, that we might call savings level 2, would be realized
in the form of a lower
federal estate
tax at the time of the asset owner's death when the gross estate is tallied for
federal estate
tax purposes.
Distributions are taxable to you for
federal income
tax purposes, whether or not you reinvest these amounts
in additional Fund shares.
An unfavorable audit will likely result
in some portion of the distributions being reclassified as earned income for
federal income
tax purposes, which results
in a deficiency assessment (i.e., a
tax bill), interest on those unpaid
taxes, and IRS penalties.
Broadly speaking, when individuals or businesses set up corporate entities
in low or no -
tax foreign jurisdictions for the
purposes of avoiding
taxes in their home countries, it raises serious questions about how the
federal government should address it, including expanding the responsibilities of the Canada Revenue Agency to tighten enforcement.
This document contains final regulations that provide transition rules providing that executors and other persons required to file or furnish a statement under section 6035 (a)(1) or (2) regarding the value of property included
in a decedent's gross estate for
federal estate
tax purposes before June 30, 2016, need not have done so until June 30, 2016.
Note that the top of the form states
in bold italics that «An IRS individual taxpayer identification number (ITIN) is for
federal tax purposes only.»
It says that «A U.S. holder's receipt of the merger consideration
in exchange for shares of our common stock will generally be a taxable transaction for U.S.
federal income
tax purposes.»
The higher
tax rate
in 2005 compared with 2006 was primarily due to the accrual of regulatory penalties, which are not deductible for
purposes of calculating the Company's
Federal income
taxes.
If you used the standard deduction, then, Yes, the state
tax refund that you received
in 2016 is not taxable income for
Federal income
tax purposes, and it is not taxable income for State
purposes either.
For example, if you live
in Nova Scotia, and you pay
tax at the top combined
federal / provincial marginal
tax rate of 54 per cent, your
tax cost of borrowing $ 100,000 for investment
purposes, using a secured line of credit at bank prime rate (currently around 3.45 per cent), is only $ 1,587 annually, assuming the interest is fully
tax deductible.
In a community property states only, a husband and wife who are the sole members of a two member LLC may be considered a single member disregarded LLC for
Federal tax purposes — check with your
tax or legal advisors to discuss this more thoroughly.
For transfers at death, the marital deduction applies only to property included
in the gross estate for
federal estate
tax purposes.
In many cases, the cost of these products may be
tax deductible for
purposes of
Federal and / or State income
tax.
Thrift Savings Plan payments are taxable as ordinary income for
Federal income
tax purposes for the year
in which they are disbursed.
Your redemptions, including exchanges, may result
in a capital gain or loss for
federal tax purposes.