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.
Sample 1Sample 2
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.
Sample 1
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.
Sample 1

Examples of Payroll Tax Liability in a sentence

  • IRS Issues Final Regulations on Payroll Tax Liability of Third-Party.

  • 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.

  • 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.

  • 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.

  • 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.

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

  • 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 has the meaning given in paragraph 1 of Part 1 of Schedule 5;
Sample 1
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;
Sample 1

Related to Payroll Tax Liability

  • Payroll Taxes means State Unemployment Insurance (SUI), Federal Unemployment Insurance (FUI), and payments pursuant to the Federal Insurance Contributions Act (FICA).

  • Actual Tax Liability means, with respect to any Taxable Year, the liability for Covered Taxes of the Corporation (a) appearing on Tax Returns of the Corporation for such Taxable Year and (b) if applicable, determined in accordance with a Determination (including interest imposed in respect thereof under applicable law).

  • Hypothetical Tax Liability means, with respect to any Taxable Year, the liability for Taxes of the Corporation (or the Partnerships, but only with respect to Taxes imposed on the Partnerships and allocable to the Corporation) using the same methods, elections, conventions and similar practices used on the relevant Corporation Return but using the Non-Stepped Up Tax Basis instead of the tax basis reflecting the Basis Adjustments of the Adjusted Assets and excluding any deduction attributable to Imputed Interest.

  • 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.

  • Assumed Tax Liability means, with respect to any Member, an amount equal to the excess of (i) the product of (A) the Distribution Tax Rate multiplied by (B) the estimated or actual cumulative taxable income or gain of the Company, as determined for federal income tax purposes, allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, less prior losses of the Company allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, in each case, as determined by the Manager and to the extent such prior losses are available to reduce such income over (ii) the cumulative Tax Distributions made to such Member after the closing date of the IPO pursuant to Sections 4.01(b)(i), 4.01(b)(ii) and 4.01(b)(iii) and, if applicable with respect to such Fiscal Year, pursuant to Section 4.1(a) of the Previous LLC Agreement; provided that, in the case of the Corporation, such Assumed Tax Liability (x) shall be computed without regard to any increases to the tax basis of the Company’s property pursuant to Sections 734(b) or 743(b) of the Code and (y) to the extent permitted under the Credit Agreements and applicable Law, shall in no event be less than an amount that will enable the Corporation to meet both its tax obligations and its obligations pursuant to the Tax Receivable Agreement for the relevant Taxable Year; provided further that, in the case of each Member, and for the avoidance of doubt, such Assumed Tax Liability shall take into account any Code Section 704(c) allocations (including “reverse” 704(c) allocations) to the Member.

  • Tax Liabilities means all liabilities for Taxes.

  • Transaction Payroll Taxes means the employer portion of any employment or payroll Taxes with respect to any bonuses, severance, option cashouts, Change in Control Payments or other compensatory payments in connection with the transactions contemplated by this Agreement, whether payable by Buyer, the Company or its Subsidiaries.

  • State premium tax liability means any liability

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

  • Income Tax Return means any return, declaration, report, claim for refund, or information return or statement relating to Income Taxes, including any schedule or attachment thereto, and including any amendment thereof.

  • Income Tax Returns mean all Tax Returns that relate to Income Taxes.

  • Non-Income Tax Return means any Tax Return relating to any Tax other than an Income Tax.

  • Tax or “Taxes” means any federal, state, local or foreign income, gross receipts, property, sales, use, license, excise, franchise, employment, payroll, withholding, alternative or add on minimum, ad valorem, transfer or excise tax, or any other tax, custom, duty, governmental fee or other like assessment or charge of any kind whatsoever, together with any interest or penalty, imposed by any Governmental Entity.

  • Post-Distribution Tax Period means a Tax period beginning and ending after the Distribution Date.

  • Income Taxes means any taxes measured, in whole or in part, by net or gross income or profits together with any interest, penalties or additions to tax.

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

  • Pre-Tax Contributions means, for any Participant, the aggregate of the Participant's Basic Pre-Tax Contributions and Supplemental Pre-Tax Contributions contributed to the applicable Pre-Tax Contribution Account.

  • Income Tax Expense means for Borrower and its Subsidiaries, on a consolidated basis for any period, all state and federal franchise or income taxes paid or due to be paid during such period.

  • 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 any taxable period beginning on or before and ending after the Closing Date.

  • Pre-Distribution Tax Period means any taxable period (or portion thereof) that ends on or before the Distribution Date.

  • Tax Benefit Payment is defined in Section 3.1(b) of this Agreement.

  • U.S. Taxes means any present or future tax, assessment or other charge or levy imposed by or on behalf of the United States of America or any taxing authority thereof or therein.

  • Tax Payments has the meaning set forth in the definition of Permitted Payments to Parent.

  • Pre-Tax Earnings means the Corporation's earnings before income taxes as reported in the Company's Consolidated Income Statement for each fiscal year of the Performance Period, excluding any non-cash charge incurred in accordance with accounting principles generally accepted in the United States of America (GAAP) for any restricted stock or restricted stock unit awards granted during the Performance Period and all options, restricted stock and other equity compensation granted to Directors during the Performance Period.

  • Distribution Taxes means any Taxes incurred solely as a result of the failure of the Intended Tax Treatment of the Restructuring, the Contribution or the Distribution.