Tax Allocation of Individual Class Payments Sample Clauses

Tax Allocation of Individual Class Payments. 20% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of wage claims (the “Wage Portion”). The Wage Portions are subject to tax withholding and will be reported on an IRS W-2 Form. 80% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for interest and penalties (the “Non-Wage Portion”). The Non-Wage Portions are not subject to wage withholdings and will be reported on IRS 1099 Forms. Participating Class Members assume full responsibility and liability for any employee taxes owed on their Individual Class Payment.
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Tax Allocation of Individual Class Payments. 20% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of wage claims (the “Wage Portion”). The Wage Portions are subject to tax withholding and will be reported on an IRS W-2 Form. 15% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for reimbursement of expenses and 65% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for interest and penalties (the “Non-Wage Portion”). The Non- Wage Portions are not subject to wage withholdings and will be reported on IRS 1099 Forms. Participating Class Members assume full responsibility and liability for any employee taxes owed on their Individual Class Payment.
Tax Allocation of Individual Class Payments. 33% of each Individual Class Payment will be allocated to . The Wage Portions are subject to tax withholding and will be reported on an IRS W-2 Form. The 67% Individual Class Payment will be allocated to settlement of claims for interest and penalties -Wage The Non-Wage Portions are not subject to wage withholdings and will be reported on IRS 1099 Forms. Participating Class Members assume full responsibility and liability for any employee taxes owed on their Individual Class Payment.
Tax Allocation of Individual Class Payments. Twenty percent (20%) of each Participating Class Member’s Individual Class Payment will be allocated to settlement of wage claims (“Wage Portion”). The Wage Portions are subject to tax withholding and will be reported on an IRS W-2 Form. Fifty percent (50%) of each Participating Class Member’s Individual Class Payment will be allocated to settlement of penalties and thirty percent (30%) will be allocated to the settlement of interests (“Non-Wage Portion”). The Non-Wage Portions are not subject to wage withholdings and will be reported on IRS 1099 Forms. Participating Class Members assume full responsibility and liability for any employee taxes owed on their Individual Class Payment.
Tax Allocation of Individual Class Payments. Fifteen percent (15%) of each Participating Class Member’s Individual Class Payment will be allocated to settlement of wage claims (the “Wage Portion”). The Wage Portions are subject to tax withholding and will be reported on an IRS W-2 Form. The remaining Eighty-five percent (85%) of each Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for interest, reimbursements and other non-wage recovery (the “Non-Wage Portion”). The Non-Wage Portions are not subject to wage withholdings and will be reported on IRS 1099 Forms. Participating Class Members assume full responsibility and liability for any employee taxes owed on their Individual Class Payment. Neither Plaintiff, Class Counsel, Defendants nor Defense Counsel are providing any advice regarding taxes or taxability.
Tax Allocation of Individual Class Payments. 25% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of wage claims (the “Wage Portion”). The Wage Portions are subject to tax withholding and will be reported by the Administrator on IRS W-2 Forms. 75% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for interest, penalties and the right of publicity claims (the “Non-Wage Portion”). The Non- Wage Portions are not subject to wage withholdings and will be reported by the Administrator on IRS 1099 Forms. Participating Class Members assume full responsibility and liability for any employee taxes owed on their Individual Class Payment.
Tax Allocation of Individual Class Payments. Fifty percent (50%) of each Participating Class Member’s Individual Class Payment will be allocated to settlement of wage claims (the “Wage Portion”). The Wage Portions are subject to tax withholding and will be reported on IRS W-2 Forms. The remaining fifty percent (50%) of each Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for interest, penalties, and other non-wage amounts sought in the Action (the “Non-Wage Portion”). The Non-Wage Portions are not subject to wage withholdings and will be reported on IRS 1099 Forms. The Parties acknowledge and agree that they have bargained over the appropriate tax allocation of the Individual Class Payments in good faith and at arm’s-length, and that the agreed-upon tax treatment fairly comprises the elements of damages sought in Action. The Parties acknowledge and agree that Defendants have made no representations or warranties to anyone regarding the income tax or employment tax consequences of any payment made hereunder. Except for the employer share of FICA, FUTA, and other payroll taxes, Participating Class Members will be responsible for paying any taxes that may be owed on amounts they receive under the Settlement, including the amounts being reported on IRS Form 1099. The Administrator will be responsible for making all payments due under the Settlement and submitting all required IRS W-2 and 1099 Forms with respect to such payments.
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Tax Allocation of Individual Class Payments. One-third of each Participating Class Member’s Individual Class Payment will be allocated to settlement of wage claims (the “Wage Portion”). The Wage Portions are subject to tax withholding and will be reported on an IRS W-2 Form, which shall be issued by the Administrator. The remaining two-thirds of each Ventura Superior Court Accepted through eDelivery submitted 01-09-2024 at 03:20:00 PM Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for interest and penalties (the “Non- Wage Portion”).v The Non-Wage Portions are not subject to wage withholdings and will be reported on IRS 1099 Forms. Participating Class Members assume full responsibility and liability for any employee taxes owed on their Individual Class Payment.
Tax Allocation of Individual Class Payments. Twenty percent (20%) of each Participating Class Member’s Individual Class Payment will be allocated to settlement of wage claims (the “Wage Portion(s)”). The Wage Portions are subject to tax withholding and will be reported to each Participating Class Member on an IRS Form W-2. The Settlement Administrator shall deduct employee-side payroll taxes from the Wage Portion of each Individual Class Payment, and Defendant shall pay the employer-side payroll taxes for the Wage Portion of each Individual Class Payment in addition to the Gross Settlement Amount. Twenty percent (20%) of each Participating Class Member’s Individual Class Payment will be allocated to settlement of interest accrued (the “Interest Portion(s)”). Sixty percent (60%) of each Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for expense reimbursement and penalties (the “Non-Wage Portion(s)”). The Interest Portions and Non-Wage Portions will be reported on IRS Form 1099s to each Participating Class Member only to the extent required by law. The Administrator shall make no payroll tax deductions from the Interest Portions or the Non-Wage Portions of each Individual Class Payment. Participating Class Members assume full responsibility and liability for any employee taxes owed on their respective Individual Class Payment.
Tax Allocation of Individual Class Payments. The Settlement is primarily for settlement of claims of meal and rest break premium pay, waiting time and other penalties, and not for
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