Payroll Tax Liability definition

Payroll Tax Liability means any and all federal, state, and local tax liabilities including without limitation income and payroll taxes, due on each Participating Class Member’s Wage Portion Before Taxes, irrespective of whether the said tax liability is or could have been satisfied by the Defendant’s contribution of the tax, or withholding from the employee’s wages, or through a combination of both. For the avoidance of doubt, Payroll Tax Liability includes, but is not limited to, federal income tax, state income tax, Social Security and Medicare taxes, which make up the Federal Insurance Contributions Act (FICA), Employer’s Annual Federal Unemployment (FUTA) tax, the Additional Medicare Tax, the State of California’s Unemployment Insurance (UI), Employment Training Tax (ETT), the California Personal Income Tax (PIT), the California State Disability Insurance (SDI) tax, local taxes, and any interest or penalties potentially due thereon.
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Payroll Tax Liability has the meaning given in paragraph 1 of Part 1 of Schedule 5;
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Payroll Tax Liability means any Tax Liability which comprises Payroll Tax and which arises in respect of or by consequence of or by reference to any provision of or right to receive or forfeiture or clawback of Consideration, including, without limitation, any right to acquire, or the allotment, issuance, holding, vesting, forfeiture, clawback, disposal of, or the lifting or variation of any restrictions relating to, any Buyer Shares, or any right to acquire or the issuance, holding, redemption, disposal of any Loan Notes or the making of an election under section 431 ITEPA;
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Examples of Payroll Tax Liability in a sentence

  • Determine each Participating Class Member’s Payroll Tax Liability on the Wage Portion Before Taxes.

  • Subtract each Participating Class Member’s Payroll Tax Liability from the Wage Portion Before Taxes, and then add the resulting sum to the remaining Eighty Percent (80%) of each Participating Class Member’s Individual Class Payment.

  • The Wage Portion Before Taxes for each Participating Class Member, calculated as set forth above, is subject to Payroll Tax Liability.

  • To Calculate the Individual Class Payment for each Participating Class Member, the Administrator shall subtract the Payroll Tax Liability from the corresponding Individual Class Payment Before Taxes.

  • Subtract each Participating Class Member’s Payroll Tax Liability from the Wage Portion Before Taxes, and then add the resulting sum to the remaining Eighty Percent (80%)of each Participating Class Member’s Individual Class Payment.

  • The Gross Settlement Amount, which Defendant must have available by December 31, 2023, or 14 calendar days after the Effective Date, whichever is later, will be used to pay Individual Class Payments, Individual PAGA Payments, the LWDA PAGA Payment, Payroll Tax Liability, if any, for each Participating Class Member, Class Counsel Fees, Class Counsel Expenses, Class Representative Service Payments and the Administrator’s Expenses.

  • The Administrator shall report the Wage Portion Before Taxes , and the resulting Payroll Tax Liability, on an IRS Form W-2, and on all other appropriate federal, state, and local tax forms, along with all the other information required to be reported by the said forms, with all income, payroll taxes, and any other taxes, appropriately identified, segregated, and attributed appropriately, as required by federal, state and local tax law, and any applicable federal, state and local tax regulations.

  • The Administrator shall Calculate Payroll Tax Liability on each Participating Class Member’s Wage Portion Before Taxes, as follows: Step One.


More Definitions of Payroll Tax Liability

Payroll Tax Liability means the liability of PPSI for the failure to pay payroll taxes to the IRS for the period from and including January 1, 2014 until and including September 30, 2015.
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Payroll Tax Liability means the liability of the Borrower for the failure to pay payroll taxes to the IRS for the period from and including January 1, 2014 until and including September 30, 2015.
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Related to Payroll Tax Liability

  • Tax Liability means the total taxes due to a municipal corporation for the taxable year, after allowing any credit to which the taxpayer is entitled, and after applying any estimated tax payment, withholding payment, or credit from another taxable year.

  • Tax Liabilities means all liabilities for Taxes.

  • council tax benefit means council tax benefit under Part 7 of the SSCBA; “couple” has the meaning given by paragraph 4;

  • Tax means any tax, levy, impost, duty or other charge or withholding of a similar nature (including any penalty or interest payable in connection with any failure to pay or any delay in paying any of the same).

  • Income Taxes means any Tax which is based upon, measured by, or calculated with respect to (i) net income or profits (including, but not limited to, any capital gains, gross receipts, value added or minimum Tax) or (ii) multiple bases (including, but not limited to, corporate franchise, doing business or occupation Taxes) if one or more of the bases upon which such Tax may be based, by which it may be measured, or with respect to which it may be calculated is described in clause (i) of this sentence.

  • Local taxes means all taxes levied other than taxes levied for school operating purposes.

  • Separate Return means (a) in the case of any Tax Return of any member of the SpinCo Group (including any consolidated, combined or unitary return), any such Tax Return that does not include any member of the Parent Group and (b) in the case of any Tax Return of any member of the Parent Group (including any consolidated, combined or unitary return), any such Tax Return that does not include any member of the SpinCo Group.

  • Straddle Tax Period means a Tax period that begins on or before the Closing Date and ends after the Closing Date.