Applicable Tax Withholding and Responsibility for Taxes Sample Clauses

Applicable Tax Withholding and Responsibility for Taxes. The Settlement Agreement allocates how payments made to you under this settlement should be treated for tax purposes. Accordingly, payments to Plaintiffs are allocated for tax purposes as follows: fifty-percent (50%) of all payments to Plaintiffs will be allocated as wages, and normal payroll taxes and withholdings will be deducted from this portion of these monetary payments pursuant to applicable law. This portion of monetary payments will be reported on an IRS Form W-2. The remaining fifty-percent (50%) will be allocated as liquidated damages and interest and will be reported on an IRS Form 1099. You will be responsible for correctly reporting this for tax purposes and for paying any taxes on the amounts received. You will also be responsible for the tax obligations and consequences of all payments received from the Settlement Sum, for filing returns and reporting all income received to state and federal taxing authorities, and for payment of any other applicable taxes due. The Parties cannot provide and will not provide any advice regarding tax obligations. You may want to seek advice from your own tax advisor concerning these responsibilities.
Sample 1
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Applicable Tax Withholding and Responsibility for Taxes. Settlement Awards to Participating Wage Statement Class Members are allocated for tax purposes as follows: 100% of such payments shall be for interest on allegedly unpaid wages to be reported on a 1099 tax basis. You are advised to seek independent tax advice regarding the potential tax consequences of your settlement amount.
Sample 1

Related to Applicable Tax Withholding and Responsibility for Taxes

  • Applicable Taxes In the event the Corporation determines that it is required to withhold state or federal income taxes, Social Security taxes, or any other applicable taxes as a result of the payment of the Shares, the Corporation will satisfy such withholding requirements by withholding of Shares otherwise payable upon the settlement of the Award, which Shares will have a Fair Market Value (determined as of the date when taxes would otherwise be withheld in cash) not in excess of the legally required minimum amount of tax withholding.

  • ELIMINATION OF DOUBLE TAXATION Double taxation shall be eliminated as follows:

  • METHODS FOR THE ELIMINATION OF DOUBLE TAXATION 1. In China, double taxation shall be eliminated as follows:

  • Withholding Taxes The Company may withhold from any amounts payable under this Agreement such Federal, state and local taxes as may be required to be withheld pursuant to any applicable law or regulation.

  • Withholding Tax To the extent required by any applicable law, the Administrative Agent may withhold from any interest payment to any Lender an amount equivalent to any applicable withholding tax. If the Internal Revenue Service or any authority of the United States or other jurisdiction asserts a claim that the Administrative Agent did not properly withhold tax from amounts paid to or for the account of any Lender (because the appropriate form was not delivered, was not properly executed, or because such Lender failed to notify the Administrative Agent of a change in circumstances that rendered the exemption from, or reduction of, withholding tax ineffective, or for any other reason), such Lender shall indemnify the Administrative Agent (to the extent that the Administrative Agent has not already been reimbursed by the Borrower and without limiting the obligation of the Borrower to do so) fully for all amounts paid, directly or indirectly, by the Administrative Agent as tax or otherwise, including penalties and interest, together with all expenses incurred, including legal expenses, allocated staff costs and any out of pocket expenses.

  • Withholding of Taxes The Company may withhold from any amounts payable under this Agreement all federal, state, city or other taxes as the Company is required to withhold pursuant to any applicable law, regulation or ruling.

  • AVOIDANCE OF DOUBLE TAXATION 1. The laws in force in either of the Contracting States will continue to govern the taxation of income in the respective Contracting States except where provisions to the contrary are made in this Agreement.

  • RELIEF FROM DOUBLE TAXATION 1. In accordance with the provisions and subject to the limitations of the law of the United States (as it may be amended from time to time without changing the general principle hereof), the United States shall allow to a resident or citizen of the United States as a credit against the United States tax on income:

  • METHODS FOR ELIMINATION OF DOUBLE TAXATION Article 23

  • No Withholding The transaction contemplated herein is not subject to the tax withholding provisions of Section 3406 of the Code, or of Subchapter A of Chapter 3 of the Code or of any other provision of law.

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