Common use of Tax Allocation of Individual Class Payments Clause in Contracts

Tax Allocation of Individual Class Payments. For purposes of this Settlement, 25% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of wage claims (the “Wage Portion”). The Wage Portions are subject to tax withholding and will be reported on an IRS W-2 Form. The remaining 75% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for interest and penalties (the “Non-Wage Portion”). The Non-Wage Portions and the Individual PAGA Payments are not subject to wage withholdings and will be reported on IRS 1099 Forms. Participating Class Members assume full responsibility and liability for any employee taxes owed on their Individual Class Payment.

Appears in 2 contracts

Samples: Class Action and Paga Settlement Agreement and Settlement Notice, Class Action and Paga Settlement Agreement and Settlement Notice

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Tax Allocation of Individual Class Payments. For purposes of this Settlement, 25% of each Participating Class Member’s Member’s Individual Class Payment will be allocated to settlement of wage claims (the “Wage Portion”“Wage Portion”). The Wage Portions are subject to tax withholding and will be reported by the Administrator on an IRS W-2 FormForms. The remaining 75% of each Participating Class Member’s Member’s Individual Class Payment will be allocated to settlement of claims for interest interest, penalties and penalties the right of publicity claims (the “Non“Non-Wage Portion”Portion”). The Non-Non- Wage Portions and the Individual PAGA Payments are not subject to wage withholdings and will be reported by the Administrator on IRS 1099 Forms. Participating Class Members assume full responsibility and liability for any employee taxes owed on their Individual Class Payment.

Appears in 1 contract

Samples: Class Action Settlement Agreement and Class Notice

Tax Allocation of Individual Class Payments. For purposes of this Settlement, 2530% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of disputed wage claims (the “Disputed Wage Portion”). The Disputed Wage Portions are subject to tax withholding and will be reported on an IRS W-2 Form. The remaining 7570% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for interest and penalties (the “Non-Wage Portion”). The Non-Wage Portions and the Individual PAGA Payments are not subject to wage withholdings and will be reported on IRS 1099 Forms. Participating Class Members assume full responsibility and liability for any employee taxes owed on their Individual Class Payment.

Appears in 1 contract

Samples: Class Action Settlement Agreement

Tax Allocation of Individual Class Payments. For purposes of this Settlement, 25% One Third (1/3) of each Participating Settlement Class Member’s Individual Class Payment will be allocated to settlement of wage claims (the “Wage Portion”). The Wage Portions are subject to tax withholding and will be reported on an IRS W-2 Form. The remaining 75% One Third (1/3) of each Participating Settlement Class Member’s Individual Class Payment will be allocated to settlement of claims for interest interest, and One Third (1/3) as penalties (the “Non-Non- Wage PortionPortions”). The Non-Wage Portions and the Individual PAGA Payments are not subject to wage withholdings and will be reported on IRS 1099 Forms. Participating Settlement Class Members assume full responsibility and liability for any employee taxes owed on their Individual Class Payment.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement

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Tax Allocation of Individual Class Payments. For purposes of this Settlement, 25% Fifteen percent (15%) of each Participating Settlement Class Member’s Individual Class Payment will be allocated to settlement of wage claims (the “Wage Portion”). The Wage Portions are subject to tax withholding and will be reported on an IRS W-2 Form. The remaining 75% Eighty-five percent (85%) of each Participating Settlement Class Member’s Individual Class Payment will be allocated to settlement of claims for interest and penalties (the “Non-Wage Portion”). The Non-Non- Wage Portions and the Individual PAGA Payments are not subject to wage withholdings and will be reported on IRS 1099 Forms. Participating Settlement Class Members assume full responsibility and liability for any employee taxes owed on their Individual Class Payment.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

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