Tax-Exempt Plan Clause Samples

A Tax-Exempt Plan clause defines the rules and requirements for a retirement or benefit plan to maintain its tax-exempt status under applicable laws. It typically outlines the obligations of the parties to operate the plan in compliance with IRS regulations, such as making necessary filings and avoiding prohibited transactions. This clause ensures that the plan's tax advantages are preserved, protecting both the employer and participants from unintended tax liabilities.
Tax-Exempt Plan. A Tax-Exempt Organization. The Plan is intended to be a “top-hat” plan or an excess benefit plan as described in (a)(ii) and (a)(ii) above or the Plan benefits only Contractors.
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Tax-Exempt Plan. Any qualified plan or trust under Code Section 401 (a) that is exempt from tax under Code Section 501 or individual retirement plan that is exempt from tax under Code Section 408.
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Related to Tax-Exempt Plan

  • Tax Exempt As per Section 151.309, Texas Tax Code, Customers under this Contract are exempt from the assessment of State sales, use and excise taxes. Further, Customers under this Contract are exempt from ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Code Sections 4253(i) and (j).

  • Tax Exempt Status H-GAC and Customer members are either units of government or qualified non-profit agencies, and are generally exempt from Federal and State sales, excise or use taxes. Respondent must not include taxes in its Response. It is the responsibility of Contractor to determine the applicability of any taxes to an order and act accordingly. Exemption certificates will be provided upon request.

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  • TAX EXEMPTION The Department of Montana is exempt from Federal Excise Taxes (#▇▇-▇▇▇▇▇▇▇).

  • Tax Exemptions Ontario Universities and College Residences are tax-exempt and Residents are not charged taxes on Residence fees. As such, the Resident may claim only $25 as the occupancy cost for the part of the year lived in Residence. If filing either a paper or an electronic income tax return, the Resident does not need to include receipts with the tax return. For that reason, Humber Residences does not provide tax receipts.