PassThrough Tax Liabilities

PassThrough Tax Liabilities. Means the amount of state and federal income tax paid or to be paid by an Owner of a Borrower on taxable income earned by such Borrower and attributable to such Owner as a result of such Borrower's "pass-through" tax status, assuming the highest marginal income tax rate for federal and state (for the state or states in which any Owner is liable for income taxes with respect to such income) income tax purposes, after taking into account any deduction for state income taxes in calculating the... federal income tax liability and all other deductions, credits, deferrals and other reductions available to such Owners from or through such Borrower. View More