Common use of Taxes Owed on Payments to Class Members Clause in Contracts

Taxes Owed on Payments to Class Members. The Parties are asking the Court to approve an allocation of twenty percent (20%) of each Individual Class Payment to taxable wages (“Wage Portion”) and eighty percent (80%) to interest and penalties (“Non-Wage Portion”). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendants will separately pay employer payroll taxes they owe on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms.

Taxes Owed on Payments to Class Members. The Parties Plaintiff and Defendants are asking the 5 Court to approve an allocation of twenty percent (20%) % of each Individual Class Payment to taxable wages (“Wage 6 Portion”) and eighty percent (80%) % to non-economic damages and interest and penalties (“Non-Wage Portion”.). The Wage Portion 7 is subject to withholdings and will be reported on IRS W-2 Forms. Defendants will separately pay 8 employer payroll taxes they owe it owes on the Wage Portion. The Individual PAGA Payments are counted as 9 penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA 10 Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms.

Taxes Owed on Payments to Class Members. The Parties are asking the Court to approve an allocation of twenty percent (20%) of each Individual Class Payment to taxable wages (“Wage Portion”) and eighty percent (80%) to interest and penalties (“Non-Wage Portion”). The Wage Portion is subject to withholdings and will be reported on IRS W-2 FormsForm W-2. Defendants Defendant will separately pay employer payroll taxes they owe it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 FormsForm 1099.

Taxes Owed on Payments to Class Members. The Parties Plaintiff and Defendant are asking the Court to approve an allocation of twenty percent (20%) 60% of each Individual Class Payment to taxable wages (“Wage Portion”) and eighty percent (80%) 40% to interest and penalties e.g., interest, etc. (“Non-Wage Portion”). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendants (Defendant will separately pay employer payroll taxes they owe it owes on the Wage Portion. .) The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms.