Operating Groups State and Local Tax

Operating Groups State and Local Tax. Shall mean the aggregate state and local income tax, computed in a manner consistent with the computation of the Operating Group's Federal Tax, as defined above, that Operating Co. and/or any of its Subsidiaries would have incurred with respect to each relevant state and local taxing 2 jurisdiction for any Taxable Period for which Operating Co. or any such Subsidiary participates with Parent in the filing of a... combined state or local income tax return with such jurisdiction if Operating Co. or any such Subsidiary of Operating Co. had filed with such jurisdiction either a separate return (in a case where only one member of the Operating Group joins in the filing of such combined return) or a combined return (in a case where more than one member of the Operating Group joins in the filing of such combined return). View More