Pre-Closing Tax Period definition: Copy, customize, and use instantly
Introduction
The term "Pre-Closing Tax Period" refers to the period of time prior to the closing date in a transaction, during which certain tax liabilities or benefits may apply to the parties involved. It is important for ensuring that the parties are clear on their tax obligations up until the closing and helps allocate the tax burden or relief accordingly. This period is significant for accurate tax reporting and adjusting financial responsibilities.
Below are various examples of how "Pre-Closing Tax Period" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Pre-Closing Tax Period" as a specified timeframe
This definition ties "Pre-Closing Tax Period" to a specified timeframe for tax purposes.
"Pre-Closing Tax Period" means the period beginning on the first day of the tax year in which the closing occurs and ending on the closing date, during which tax liabilities are allocated to the seller.
Definition of "Pre-Closing Tax Period" as related to taxable events
This definition connects "Pre-Closing Tax Period" to taxable events before closing.
"Pre-Closing Tax Period" refers to the period preceding the closing date during which all taxable events or liabilities accrue to the seller.
Definition of "Pre-Closing Tax Period" as a shared liability period
This definition links "Pre-Closing Tax Period" to shared tax liabilities.
"Pre-Closing Tax Period" means the period before the closing date, during which both parties share responsibility for any taxes owed, as defined in the agreement.
Definition of "Pre-Closing Tax Period" as a part of the transaction structure
This definition applies "Pre-Closing Tax Period" within the context of transaction structuring.
"Pre-Closing Tax Period" refers to the period ending on the closing date, during which tax responsibilities, credits, or refunds are considered as part of the transaction structure.
Definition of "Pre-Closing Tax Period" as covering a fiscal year
This definition ties "Pre-Closing Tax Period" to a fiscal year.
"Pre-Closing Tax Period" refers to that portion of the fiscal year in which the transaction takes place, prior to the closing date.
Definition of "Pre-Closing Tax Period" as the first part of a tax year
This definition connects "Pre-Closing Tax Period" to the first part of a tax year.
"Pre-Closing Tax Period" means the portion of the tax year that runs up to and includes the closing date, which is relevant for allocating tax obligations.
Definition of "Pre-Closing Tax Period" as used for tax reporting
This definition links "Pre-Closing Tax Period" to tax reporting requirements.
"Pre-Closing Tax Period" refers to the period before the closing date during which tax filings, returns, or payments are made for the seller’s activities.
Definition of "Pre-Closing Tax Period" as part of post-closing adjustments
This definition applies "Pre-Closing Tax Period" to adjustments post-closing.
"Pre-Closing Tax Period" refers to the time period before the closing date, for which tax liabilities or refunds are adjusted in the post-closing period.
Definition of "Pre-Closing Tax Period" as relating to tax indemnity
This definition connects "Pre-Closing Tax Period" to indemnification provisions.
"Pre-Closing Tax Period" means the period before the closing date, during which tax indemnity provisions are applicable to the seller’s obligations.
Definition of "Pre-Closing Tax Period" as part of tax year split
This definition links "Pre-Closing Tax Period" to a split tax year.
"Pre-Closing Tax Period" refers to the portion of a tax year allocated to the seller, prior to the closing date, for tax purposes.
Definition of "Pre-Closing Tax Period" as concerning acquired business
This definition ties "Pre-Closing Tax Period" to the tax period of the acquired business.
"Pre-Closing Tax Period" means the period prior to the closing date during which the acquired business will file its tax returns and bear its own tax liabilities.
Definition of "Pre-Closing Tax Period" as the allocation of tax benefits
This definition connects "Pre-Closing Tax Period" to the allocation of tax benefits.
"Pre-Closing Tax Period" refers to the period before closing, in which the seller is entitled to any tax benefits that occur prior to the closing date.
Definition of "Pre-Closing Tax Period" as relevant for transfer taxes
This definition applies "Pre-Closing Tax Period" to transfer taxes.
"Pre-Closing Tax Period" means the period before the closing date, during which transfer taxes related to the transaction are assessed and allocated to the seller.
Definition of "Pre-Closing Tax Period" as applicable to tax elections
This definition ties "Pre-Closing Tax Period" to tax elections made prior to closing.
"Pre-Closing Tax Period" refers to the period before the closing date, in which the buyer and seller may agree on tax elections applicable to the transaction.
Definition of "Pre-Closing Tax Period" as determining taxable income
This definition links "Pre-Closing Tax Period" to the calculation of taxable income.
"Pre-Closing Tax Period" means the period prior to the closing date during which the seller is responsible for reporting and paying tax on income earned.
Definition of "Pre-Closing Tax Period" as allocating capital gains
This definition connects "Pre-Closing Tax Period" to the allocation of capital gains.
"Pre-Closing Tax Period" refers to the period prior to closing, during which the seller must allocate any capital gains resulting from the sale of the business.
Definition of "Pre-Closing Tax Period" as an agreed-upon timeframe
This definition applies "Pre-Closing Tax Period" as an agreed timeframe for tax matters.
"Pre-Closing Tax Period" means the period from the start of the tax year up to the closing date, as agreed upon by both parties for tax-related allocations.
Definition of "Pre-Closing Tax Period" as impacting seller's tax return
This definition ties "Pre-Closing Tax Period" to tax return filing responsibilities.
"Pre-Closing Tax Period" refers to the period before the closing date during which the seller is required to file its tax returns and make payments.
Definition of "Pre-Closing Tax Period" as governing sales tax obligations
This definition connects "Pre-Closing Tax Period" to sales tax obligations.
"Pre-Closing Tax Period" means the period preceding the closing date during which sales tax obligations are applicable to the seller’s transactions.
Definition of "Pre-Closing Tax Period" as ensuring proper allocation
This definition links "Pre-Closing Tax Period" to proper allocation of taxes.
"Pre-Closing Tax Period" refers to the period before the closing date, ensuring that tax liabilities are properly allocated between the parties.
Definition of "Pre-Closing Tax Period" as necessary for tax filings
This definition connects "Pre-Closing Tax Period" to filing tax documents.
"Pre-Closing Tax Period" means the time period before the closing date, which is necessary for determining and filing all relevant tax documents and returns.
Definition of "Pre-Closing Tax Period" as a component of tax dispute resolution
This definition applies "Pre-Closing Tax Period" to tax disputes.
"Pre-Closing Tax Period" refers to the period before the closing date, during which any tax disputes or issues related to taxes must be resolved.
Definition of "Pre-Closing Tax Period" as identifying tax period for audit
This definition links "Pre-Closing Tax Period" to audits.
"Pre-Closing Tax Period" refers to the period prior to closing that is subject to audit for the purpose of determining tax compliance.
Definition of "Pre-Closing Tax Period" as tax event for buyer
This definition connects "Pre-Closing Tax Period" to the buyer’s tax obligations.
"Pre-Closing Tax Period" means the period before the closing date, during which the buyer may be responsible for tax obligations tied to pre-closing activities.
Definition of "Pre-Closing Tax Period" as relating to tax loss carryforward
This definition ties "Pre-Closing Tax Period" to tax loss carryforwards.
"Pre-Closing Tax Period" refers to the period before the closing date, which affects the seller’s ability to carry forward tax losses.
Definition of "Pre-Closing Tax Period" as determining the responsible party
This definition applies "Pre-Closing Tax Period" to tax responsibility determination.
"Pre-Closing Tax Period" refers to the period before the closing date, during which the responsible party for taxes is determined.
Definition of "Pre-Closing Tax Period" as tax calculation for net income
This definition links "Pre-Closing Tax Period" to tax calculations for income.
"Pre-Closing Tax Period" means the period prior to the closing date, used for calculating the seller’s net income subject to tax obligations.
Definition of "Pre-Closing Tax Period" as affecting tax refunds
This definition ties "Pre-Closing Tax Period" to tax refunds.
"Pre-Closing Tax Period" refers to the time before closing, which may impact any tax refunds owed to the seller for that period.
Definition of "Pre-Closing Tax Period" as applicable to withholding tax
This definition connects "Pre-Closing Tax Period" to withholding tax obligations.
"Pre-Closing Tax Period" refers to the period preceding the closing date during which the seller is responsible for withholding taxes.
Definition of "Pre-Closing Tax Period" as the portion of a fiscal year
This definition links "Pre-Closing Tax Period" to fiscal year allocation.
"Pre-Closing Tax Period" means the portion of the fiscal year before the closing date, for the purpose of allocating taxes and other related obligations.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.