Step-Up Margin means the rate per annum specified in the applicable Final Terms and The period of debarment will be contingent upon the severity of cause.īecause each taxpayer’s franchise tax liability cannot exceed the product of its tax rate and its 70% Margin, a determination by the Court to sever the statutory provisions relating to COGS Margin and/or Compensation Margin would not decrease the revenue collected by the State of Texas from the franchise tax.A tax on the 70% Margin is a gross receipts tax, not a net income tax.ĬD Margin means a rate per annum determined in accordance with the Pricing Schedule. Even if a tax on COGS Margin or Compensation Margin is a “tax on net income,” the tax on the 70% Margin is a valid gross receipts tax and should be severed.Because the Texas franchise tax clearly contemplates three alternative methods for computing margin, it is theoretically possible that a tax on one method of computing margin could be a net income tax while a tax on another method is not. This may include tenants of registered providers who wish to transfer to a smaller property via the Council’s scheme if the landlord is willing to give the resulting void to the Council outside the nomination agreement.īecause the Texas franchise tax applies regardless of profitability, it cannot be characterized as an income tax.D. Thus, it appears that differences across industrialized economies in terms of technological and economic development are relatively minor and are picked up by their country FE.
In other words, unlike COGS Margin and Compensation Margin, which are computed by subtracting the amount of certain expenses as a deduction from a taxpayer’s total revenue, 70% Margin is not calculated using any deduction at all.
Cogs margin plus#
ATHENEX’s total consideration for the supply of the Licensed Product to ALMIRALL shall be an amount per unit of Licensed Product (calculated on a SKU basis) equivalent to the corresponding COGS as defined below, plus the COGS Margin agreed below (the “Supply Price”).
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