TAX WITHHOLDING/FIRPTA Sample Clauses

TAX WITHHOLDING/FIRPTA. Under the Foreign Investment in Real Property Tax Act ("FIRPTA"), Internal Revenue Code ("IRC") Section 1445, every buyer of U.S. real property must, unless an exemption applies, deduct and withhold from Seller's proceeds ten percent (10%) of the gross sales price. Seller agrees to execute and deliver to Buyer an affidavit stating that Seller is not a foreign person.
Sample 1
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TAX WITHHOLDING/FIRPTA. Unless the Property is acquired for use as a primary residence and is sold for 29 no more than $300,000, SELLER agrees to provide BUYER with (a) Non-Foreign Seller Affidavit, or (b) Withholding 30 Certificate Form from the Internal Revenue Service stating that withholding is not required. In the event none of the 31 foregoing is applicable, BUYER requires a percentage of SELLER’s proceeds to be escrowed to comply with the 32 FOREIGN INVESTMENT AND REAL PROPERTY TAX ACT (IRC 1445). 33 34 SELLER  is OR  is not a foreign person therefore subjecting this transaction to FIRPTA withholding. 35 36 SELLER shall check one of the following options, and date, time, and sign this Agreement. 37  Acceptance of Offer SELLER accepts this Offer. 38  Counter Offer #1 SELLER signs this Offer subject to a Counter Offer #1 dated . 39  Rejection SELLER rejects the foregoing Offer. 40 41 SELLER / DATE / Time / 42 43 SELLER / DATE / Time / 44 45 SELLER's Representation: 46 SELLER’s Licensee Name SELLER’s Broker Name 47 48 SELLER’s Licensee Nevada License # SELLER’s Brokers Nevada License # 49 Phone Fax Brokerage Name 50 SELLER’s Licensee Email Xxxxxx Xxxxxxx 00 Xxxx/Xxxxx/Xxx
Sample 1
TAX WITHHOLDING/FIRPTA. Unless the Property is acquired for use as a primary residence and is sold for 29 no more than $300,000, SELLER agrees to provide BUYER with (a) Non-Foreign Seller Affidavit, or (b) Withholding 30 Certificate Form from the Internal Revenue Service stating that withholding is not required. In the event none of the 31 foregoing is applicable, BUYER requires a percentage of SELLER’s proceeds to be escrowed to comply with the 32 FOREIGN INVESTMENT AND REAL PROPERTY TAX ACT (IRC 1445). 33 34 SELLER ❑ is OR ❑ is not a foreign person therefore subjecting this transaction to FIRPTA withholding. 35 36 SELLER shall check one of the following options, and date, time, and sign this Agreement. 37 ❑ Acceptance of Offer SELLER accepts this Offer.
Sample 1

Related to TAX WITHHOLDING/FIRPTA

  • Tax Withholding The Company shall withhold any taxes that are required to be withheld from the benefits provided under this Agreement.

  • Income Tax Withholding You must indicate on distribution requests whether or not federal tax should be withheld. Distribution requests without a federal withholding statement require the Custodian to withhold federal tax in accordance with IRS regulations. State withholding may also apply for distribution requests received without a withholding statement.

  • Withholding Rights Each of the Surviving Corporation and Parent shall be entitled to deduct and withhold from the consideration otherwise payable pursuant to this Agreement to any holder of Shares such amounts as it is required to deduct and withhold with respect to the making of such payment under the Code, or any provision of state, local or foreign tax law. To the extent that amounts are so withheld by the Surviving Corporation or Parent, as the case may be, such withheld amounts shall be treated for all purposes of this Agreement as having been paid to the holder of the Shares in respect of which such deduction and withholding was made by the Surviving Corporation or Parent, as the case may be.

  • Withholding Payment In addition to the specific consequences explained in the Grant Work Plan and/or Special Terms and Conditions, the State of Florida (State) reserves the right to withhold payment when the Grantee has failed to perform/comply with provisions of this Agreement. None of the financial consequences for nonperformance in this Agreement as more fully described in the Grant Work Plan shall be considered penalties.

  • Withholding Payments The State reserves the right to withhold payment of the Engineer's billing statement in the event of any of the following: (1) If a dispute over the work or costs thereof is not resolved within a thirty day period; (2) pending verification of satisfactory work performed; (3) the Engineer becomes a delinquent obligor as set forth in Section 231.006 of the Family Code; (4) required reports are not received; or (5) the State Comptroller of Public Accounts will not issue a warrant to the Engineer. In the event that payment is withheld, the State shall notify the Engineer and give a remedy that would allow the State to release the payment.

  • Withholding Taxes The Company may withhold from any amounts payable under this Agreement such Federal, state and local taxes as may be required to be withheld pursuant to any applicable law or regulation.

  • Dues Withholding Section 1. This Article covers all employee-members in exclusively recognized unit, who: A. are members in good standing in AFGE; B. voluntarily completed Standard Form 1187; and,

  • Withholding Tax To the extent required by any applicable law, the Administrative Agent may withhold from any interest payment to any Lender an amount equivalent to any applicable withholding tax. If the Internal Revenue Service or any authority of the United States or other jurisdiction asserts a claim that the Administrative Agent did not properly withhold tax from amounts paid to or for the account of any Lender (because the appropriate form was not delivered, was not properly executed, or because such Lender failed to notify the Administrative Agent of a change in circumstances that rendered the exemption from, or reduction of, withholding tax ineffective, or for any other reason), such Lender shall indemnify the Administrative Agent (to the extent that the Administrative Agent has not already been reimbursed by the Borrower and without limiting the obligation of the Borrower to do so) fully for all amounts paid, directly or indirectly, by the Administrative Agent as tax or otherwise, including penalties and interest, together with all expenses incurred, including legal expenses, allocated staff costs and any out of pocket expenses.

  • Withholding The Company may withhold from any amounts payable under this Agreement such federal, state, local or foreign taxes as shall be required to be withheld pursuant to any applicable law or regulation.

  • Withholding Requirements In the event that any jurisdiction imposes any withholding or other tax on any payment made by Xxxxxxx Mac (or its agent, the Exchange Administrator, or any other person potentially required to withhold) with respect to a Note, Xxxxxxx Mac (or its agent, the Exchange Administrator, or such other person) will deduct the amount required to be withheld from such payment, and Xxxxxxx Mac (or its agent, the Exchange Administrator, or such other person) will not be required to pay additional interest or other amounts, or redeem or repay the Notes prior to the Maturity Date, as a result.

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