Common use of Compliance with Applicable Income Tax Laws Clause in Contracts

Compliance with Applicable Income Tax Laws. A. Magneceutical Health will automatically provide a complete 1099 Miscellaneous Income Tax form (nonemployee compensation) to each Wellness Advisor whose earnings for the year are $600 or more, who has purchased more than $5,000 of Magneceutical Health products for resale, or who received trips, prizes or awards valued at $600 or more. If earnings and purchases are less than stated above, IRS forms will be sent only at the request of the Wellness Advisor, and a minimum charge of $20 may be assessed by the Company. B. A Wellness Advisor accepts sole responsibility for and agrees to pay all federal, state, and local taxes on any income generated through Magneceutical Health, and further agrees to indemnify the Company from any failure to pay such tax amounts when due. C. If a Wellness Advisor’s business is tax exempt, the Federal Tax Identification number must be provided to the Company in writing. D. Magneceutical Health encourages all Wellness Advisors to consult with a tax advisor for additional information for their business.