Payment of Federal, State and Local Taxes. The parties recognize that the awards to eligible Claimants will be subject to applicable tax withholding and reporting, which will be handled as follows: The Claims Administrator shall serve as trustee of the Settlement Fund and shall act as a fiduciary with respect to the handling, management, and distribution of the Settlement, including the handling of tax-related issues and payments. Specifically, the Claims Administrator shall be responsible for withholding, remitting and reporting of the Claimant’s share of the payroll taxes from the Settlement Fund, and Xxxxxx Xxxxxxx shall be responsible for the employer’s share of payroll taxes as set forth in this section. The Special Master will establish, for tax purposes, the allocation of the payments made to Claimants to wages, interest, compensatory damages, or such other tax character of such payout as the Special Master may determine, based on the principles set forth in Treas. Reg. §1.468B-4 by reference to the claims pursuant to which distributions are made and as if Xxxxxx Xxxxxxx made such payments directly to Claimants. The Claims Administrator shall inform Xxxxxx Xxxxxxx in writing of the employer’s share of all taxes or contributions (i.e., FICA, FUTA, SUTA, and Medicare) required to be paid by Xxxxxx Xxxxxxx. Xxxxxx Xxxxxxx shall, within ten (10) business days of such notice, remit all such payments (net of the credit for opt outs, if any, as provided for in Section IV.C.9. above) to the Claims Administrator for payment to appropriate taxing authorities (“Employer Payroll Tax Payment”). The Claims Administrator shall be responsible for the timely reporting and remitting of the Employer Payroll Tax Payment to the appropriate taxing authorities and shall indemnify Xxxxxx Xxxxxxx for any penalty arising out of an incorrect calculation and/or interest with respect to late deposit of the same. Subject to the Claims Administrator’s obligation to comply with applicable laws, the parties anticipate that any amounts designated as interest shall not be subject to withholding and shall be reported, if required, to the IRS on Form 1099-INT. The amounts paid for emotional distress shall not be subject to withholding and shall be reported to the IRS on Form 1099-MISC. Except with respect to the Employer Payroll Tax Payment, the Claims Administrator shall be responsible to satisfy from the Settlement Fund any and all federal, state and local employment and withholding taxes, including, without limitation, feder...
Payment of Federal, State and Local Taxes a. Payments to eligible Named Plaintiffs and other Class Members from the Account will be subject to applicable tax withholding and reporting requirements pursuant to the allocation set out in Section IV.B.1, and shall be made net of all applicable employment taxes, including, without limitation, federal, state and local income tax withholding and applicable FICA taxes.
b. The Notice Administrator, as administrator of the QSF, and on behalf of the QSF, is expected to and shall carry out all the duties and obligations of the QSF in accordance with the Code and Treasury Regulations and all other applicable law, including in respect of all withholding and employment taxes and all information reporting requirements with respect thereto.
c. The Notice Administrator, as administrator of the QSF, shall report that portion of the Settlement Fund payments made by the QSF allocable to wages and lost mobility and career opportunities to each eligible Class Member and to the United States Internal Revenue Service (“IRS”) and to other appropriate taxing authorities (each of the IRS and any such other taxing authority, a “Taxing Authority,” and collectively, “Taxing Authorities”) on an IRS Form W-2, or any other applicable form for the reporting of amounts treated as wages for tax purposes. Such amounts shall be subject to applicable employment taxes and withholding taxes, including without limitation FICA, FUTA, Medicare and any state and local taxes, including without limitation SUTA.
d. The Notice Administrator shall pay from the QSF the employee’s and employer’s shares of all U.S. federal, state, and local employment taxes, including without limitation the employer’s share of FICA, FUTA, Medicare and any state and local taxes, including without limitation SUTA, required to be paid by an employee or employer on amounts as allocable to wages and lost mobility and career opportunities (all such U.S. federal, state and local taxes, collectively the “Payroll Taxes”). Neither Named Plaintiffs, their counsel, Class Members nor the Notice Administrator shall seek payment for Payroll Taxes from the Settling Defendants or any Released Party.
e. The Notice Administrator, as administrator of the QSF, shall report that portion of the Settlement Fund payments made by the QSF allocable to statutory multiplier damages to each eligible Class Member and all applicable Taxing Authorities, to the extent required by law, under the Class Member’s name and U.S. federal taxpayer identifica...
Payment of Federal, State and Local Taxes. The parties recognize that the awards to eligible Claimants from the Settlement Fund and to Named Plaintiffs from the Settlement Fund and the Individual Named Plaintiffs’ Settlement Fund will be subject to applicable tax withholding and reporting, which will be handled as follows: The Claims Administrator shall serve as trustee of the two Settlement Funds and shall act as a fiduciary with respect to the handling, management, and distribution of amounts therefrom, including the handling of tax-related issues and payments. Specifically, the Claims Administrator shall be responsible for withholding, remitting and reporting of each Claimant’s and Named Plaintiffs’ share of the payroll taxes, and Defendants shall be responsible for the employer’s share of payroll taxes as set forth in this section. The allocation of Claimant Awards from the Settlement Fund and Individual Named Plaintiff Awards from the Individual Named Plaintiffs’ Settlement Fund are 50% for alleged lost wages (and subject to withholding for FICA, FUTA, SUTA, and Medicare) and 50% for other income that is not subject to withholding. See Treas. Reg. §1.468B-4. The parties state that the claims include the EPA claims, which have a liquidated damages provision for double damages, and that there is interest and other damages claims being released. The Claims Administrator shall inform Defendants in writing of the employer’s share of all taxes or contributions required to be paid by Defendants upon receiving all of the Claim Forms and finalizing the Awards. The Claims Administrator shall timely report and remit the employer share of payroll taxes relative to the settlement payments to the appropriate taxing authorities. The Claims Administrator shall be responsible for the timely reporting and remitting of the Employer Payroll Tax Payment to the appropriate taxing authorities. Except with respect to the Employer Payroll Tax Payment, the Claims Administrator shall be responsible to satisfy from the Settlement Fund and Individual Named Plaintiffs’ Settlement Fund any and all federal, state and local employment and withholding taxes, including, without limitation, federal and state income tax withholding, FICA, FUTA, SUTA, Medicare and any state employment taxes. The Claims Administrator shall satisfy all federal, state, local, and other reporting requirements (including any applicable reporting with respect to attorneys’ fees and other costs subject to reporting), and any and all taxes, penalties and ...
Payment of Federal, State and Local Taxes. The Parties recognize that the awards to eligible Class Members will be subject to 23 applicable tax withholding and reporting, which will be handled as follows: The
Payment of Federal, State and Local Taxes. 15 The parties recognize that the awards to eligible Settlement Class Members and PAGA 16 Group Members will be subject to applicable tax withholding and reporting, which will be 17 handled as follows: The Settlement Administrator shall act as a fiduciary with respect to the 18 handling, management, and distribution of the Settlement, including the handling of tax-related 19 issues and payments. Specifically, the Settlement Administrator shall be responsible for 20 withholding, remitting and reporting both the employer and the employees’ share of the payroll 21 taxes from the Settlement Fund.
Payment of Federal, State and Local Taxes. 16 The Parties recognize that the awards to Settlement Class Members from the Settlement 17 Award Fund (including awards from the Settlement Fund to Named Plaintiffs) will be subject to 18 applicable tax withholding and reporting, which will be handled as follows: the Settlement 19 Administrator shall serve as trustee of the Settlement Fund and shall act as a fiduciary with 20 respect to the handling, management, and distribution of the Settlement Fund, including the 21 handling of tax-related issues and payments, preparation of IRS W-2 and 1099 Tax Forms, and 22 issuing to Named Plaintiffs, Settlement Class Members, and Class Counsel any W-2, 1099, or 23 other tax forms as may be required by law for all amounts paid pursuant to this Settlement. 24 Specifically, the Settlement Administrator shall be responsible for withholding, remitting, and 25 of the payroll taxes from the Settlement Fund, 26 and Defendants shall be responsible for the employer 27 Section.
Payment of Federal, State and Local Taxes. 19 The parties recognize that the awards to eligible Class Members will be subject to 20 applicable tax withholding and reporting, which will be handled as follows: The Settlement 21 Administrator shall act as a fiduciary with respect to the handling, management, and distribution 22 of the Settlement, including the handling of tax-related issues and payments. Specifically, the 23 Settlement Administrator shall be responsible for withholding, remitting and reporting both the 24 employer and the employees’ share of the payroll taxes from the Settlement Fund.
Payment of Federal, State and Local Taxes. The Parties recognize that the awards to eligible Class Members will be subject to
Payment of Federal, State and Local Taxes. The parties recognize that the awards to eligible Claimants are not compensation and fall within section 29 U.S.C. sec. 2617(a)(1)(A)(i)(II) and therefore should not be subject to payroll tax withholding and reporting. Settlement Class Members shall be responsible for reporting and paying any federal or state income taxes which may be owed on the Payment. The Claims Administrator shall be responsible for reporting to the IRS and to Claimants on Form 1099- MISC.
Payment of Federal, State and Local Taxes a. Payments to eligible Settlement Class Members from the Account will be subject to applicable tax withholding and reporting requirements and shall be made net of all applicable employment taxes, including, without limitation, federal, state and local income tax withholding and applicable FICA taxes.
b. The Claims Administrator, as administrator of the QSF, and on behalf of the QSF, is expected to and shall carry out all the duties and obligations of the QSF in accordance with the Code and Treasury Regulations and all other applicable law, including in respect of all withholding and employment taxes and all information reporting requirements with respect thereto.
c. The Claims Administrator, as administrator of the QSF, shall report that portion of the Settlement Fund payable as wages by the QSF to each eligible Settlement Class Member and to the United States Internal Revenue Service (“IRS”) and to other appropriate taxing authorities (each of the IRS and any such other taxing authority, a “Taxing Authority,” and collectively, “Taxing Authorities”) on an IRS Form W-2, or any other applicable form. Such amounts shall be subject to applicable employment taxes and withholding taxes, as determined by the Claims Administrator as administrator of the QSF making such payments.
d. The Claims Administrator shall pay from the QSF the employer’s share of U.S. federal employment taxes imposed under Sections 3111 and 3301 of the Code including without limitation the employer’s share of FICA, FUTA, Medicare and any state and local taxes, including without limitation SUTA, required to be paid by an employer on amounts treated as wages (all such U.S. federal, state and local taxes, collectively the “Employer Payroll Taxes”). Neither Named Plaintiffs, their counsel, Settlement Class Members nor the Claims Administrator shall seek payment for Employer Payroll Taxes from Sony Pictures or any Released Party.
e. The Claims Administrator, as administrator of the QSF, shall report that portion of the Settlement Fund payable by the QSF to each eligible Settlement Class Member as statutory multiplier damages and interest to the Settlement Class Member and all applicable Taxing Authorities, to the extent required by law, under the Settlement Class Member’s name and U.S. federal taxpayer identification number on IRS Forms 1099, or other applicable form, and such payments shall be made without deduction for taxes and withholdings, except as required by law, as determined by the Cla...
