Wage Reporting. With respect to employment Tax matters (a) Buyer and Sellers shall agree to elect the “predecessor-successor” basis for each Transferred Employee pursuant to the standard procedures in Section 4 of Revenue Procedure 2004-53, 34 I.R.B. 320 and (b) Buyer and Sellers shall work in good faith to adopt similar procedures under applicable wage payment, reporting and withholding Laws in all appropriate jurisdictions.
Appears in 2 contracts
Sources: Asset Purchase Agreement, Asset Purchase Agreement (MULTI COLOR Corp)