Harris Texas Tax Sharing Agreement
Description
How to fill out Tax Sharing Agreement?
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FAQ
A tax sharing agreement (TSA) is a contract created to clarify the economic expectations among members of a related group of corporations included in consolidated or combined reporting tax returns.
Tax Sharing Arrangement means any written or unwritten agreement or arrangement for the allocation or payment of Tax liabilities or payment for Tax benefits with respect to a consolidated, combined or unitary Tax Return which includes the Company.
Consolidated Tax Group means any affiliated group (as defined in Section 1504(a) of the Code) that includes a Business Subsidiary, and any similar group of corporations that includes a Business Subsidiary and files foreign, state, local or non-U.S. Tax Returns on a combined, consolidated or unitary basis.
Allocation and Payment of Consolidated Tax Liability One way to do this is to allocate the group's liability based on each member's stand-alone tax liability or on the basis of each member's taxable income as a percentage of consolidated taxable income.
Without a Tax Sharing Agreement members of the consolidated group will always be jointly and severally liable for the tax liabilities of the group. With a Tax Sharing Agreement, a member may only be liable for the tax liabilities of that member.
A GST group is two or more associated business entities that operate as a single business for GST purposes. One member of the group (the 'representative member') completes activity statements and accounts for GST on behalf of the whole group.
Similar to a tax sharing agreement, an Indirect Tax Sharing Agreement (ITSA) allows entities within a GST Group to limit joint and several liabilities in relation to their indirect tax liabilities including Goods and Services Tax (GST), wine equalisation tax, luxury car tax and fuel tax.
ITSA means an agreement between the members of an Australian GST Group which takes effect as an indirect tax sharing agreement under section 444-90 of Schedule 1 of the Australian Taxation Administration Act 1953 (Cth) and complies with the Australian Taxation Administration Act 1953 (Cth) and the Australian GST Act as
As the name "tax receivable agreement" implies, a TRA is a contract between a public company and its pre-IPO. owners that shifts tax assets from the newly public company to its pre- IPO owners, allowing pre-IPO owners to "keep" certain tax assets for.
A tax sharing agreement (TSA) is a contract created to clarify the economic expectations among members of a related group of corporations included in consolidated or combined reporting tax returns.
