16Tax Withholding Sample Clauses
The "Tax Withholding" clause establishes the parties' responsibilities regarding the deduction and remittance of taxes from payments made under the agreement. Typically, it requires one party to withhold applicable taxes from amounts payable to the other party, such as income or value-added taxes, and to remit those amounts to the appropriate tax authorities. This clause ensures compliance with tax laws and clarifies that the paying party is not liable for taxes owed by the recipient, thereby preventing disputes and potential legal issues related to tax obligations.
16Tax Withholding. The Company or other payor is authorized to withhold from any benefit provided or payment due hereunder, the amount of withholding taxes due any federal, state, or local authority in respect of such benefit or payment and to take such other action as may be necessary in the opinion of the Compensation Committee to satisfy all obligations for the payment of such withholding taxes. The Executive will be solely responsible for all taxes assessed against the Executive with respect to the compensation and benefits described in this Agreement, other than typical employer-paid taxes such as FICA, and the Company makes no representations as to the tax treatment of such compensation and benefits.
16Tax Withholding. The Employer may make such provisions and take such action as it deems necessary or appropriate for the withholding of any taxes which the Employer is required by any law or regulation to withhold in connection with any benefits under the Agreement. The Executive shall be responsible for the payment of all individual tax liabilities relating to any benefits paid hereunder.