Annuity Taxes. In jurisdictions in which an annuity tax is payable when premium payments are received, we may instead deduct the amount of tax payable due to the premium payment from: (a) the Accumulation Value if it is applied under a payout option; (b) the Surrender Value upon surrender; (c) upon a transfer to a rider that may be attached to this Contract that provides deferred income annuity payments or (d) the death benefit payable upon death. In jurisdictions in which an annuity tax is payable on the Annuity Commencement Date, we will deduct the amount of the tax payable from the Accumulation Value prior to the determination of the initial annuity payment. In jurisdictions that do not require payment of a tax, the above paragraphs will not apply.
Appears in 6 contracts
Samples: Guardian Separate Account R, Guardian Separate Account R, Guardian Separate Account R
