W-2 Matters. Pursuant to the alternative procedure set forth in Internal Revenue Service Rev. Proc. 96-60, SpinCo will assume Parent's obligations to furnish Forms W-2 to all Transferred Individuals for the year in which the Distribution Date occurs. Parent will provide to SpinCo the information not available to SpinCo relating to periods ending on the Distribution Date necessary for SpinCo to prepare and distribute Forms W-2 to Transferred Individuals for the year in which the Distribution Date occurs, which will include all remuneration earned by Transferred Individuals before the Distribution Date and Forms W-4 provided to Parent by Transferred Individuals to the extent that SpinCo is not already in possession of such information. SpinCo shall prepare and distribute such forms. To the extent permitted by applicable law, in particular Code Sections 3121(a)(1) and 3306(b)(1), SpinCo shall be deemed a successor employer to Parent with respect to Transferred Individuals for purposes of calculating the annual wage limitation to which state and federal payroll taxes apply.
W-2 Matters. Pursuant to the alternative procedure set forth in Internal Revenue Service Rev. Proc. 2004-53, SpinCo will assume Acuity’s obligations to furnish Forms W-2 to all Transferred Individuals for the year in which the Distribution Date occurs. Acuity will provide to SpinCo the information not available to SpinCo relating to periods ending on the Distribution Date necessary for SpinCo to prepare and distribute Forms W-2 to Transferred Individuals for the year in which the Distribution Date occurs, which will include all remuneration earned by Transferred Individuals before the Distribution Date and Forms W-4 provided to Acuity by Transferred Individuals to the extent that SpinCo is not already in possession of such information. SpinCo shall prepare and distribute such forms. To the extent permitted by applicable law, in particular Code Sections 3121(a)(1) and 3306(b)(1), SpinCo shall be deemed a successor employer to Acuity with respect to Transferred Individuals for purposes of calculating the annual wage limitation to which state and federal payroll taxes apply.
W-2 Matters. Pursuant to IRS Revenue Procedure 96-60, the Successor GP shall assume Parent's and PAAI's respective obligations to furnish Forms W-2 to Transferred Employees for the calendar year in which the Closing Date occurs. Parent and PAAI will provide the Successor GP with any information relating to periods ending on the Closing Date necessary for the Successor GP to prepare and distribute Forms W-2 to Transferred Employees for the calendar year in which the Closing Date occurs, which Forms W-2 will include all remuneration earned by Transferred Employees from Parent, PAAI and the Successor GP during such year, and the Successor GP will prepare and distribute such forms.
W-2 Matters. Pursuant to IRS Revenue Procedure 2004-53, Purchaser and the Sellers shall apply the “standard” method for purposes of employee payroll reporting with respect to Business Employees.
W-2 Matters. Herald, Pulitzer and PTI agree that the Company will acquire hereunder substantially all of the property used in the Business and that in connection therewith the Company will employ individuals who immediately before the Closing Date were employed in such trade or business under the Agency Agreement or by Herald, Pulitzer or their respective Affiliates. Accordingly, pursuant to the Alternate Procedure permitted by Rev. Proc. 96-60, 1996-2 C.B. 399, provided that all necessary payroll records for the calendar year that includes the Closing Date are made available to the Company, the Company will furnish a Form W-2 to each Employee employed by the Company who had been employed by the Business or any of the Contributed Entities, disclosing all wages and other compensation paid for such calendar year, and taxes withheld therefrom.
W-2 Matters. Pursuant to the alternate procedure prescribed by Revenue Procedure 96-60, Purchaser shall assume Seller's entire obligation to furnish Forms W-2 for the calendar year ending December 31, 1999 to Transferred Employees. Seller shall provide Purchaser any information not available to Purchaser relating to periods ending on the Closing Date necessary for Purchaser to prepare and distribute Forms W-2 to Transferred Employees for the year ending December 31, 1999, which Forms W-2 shall include all remuneration earned by Transferred Employees from both Seller and Purchaser during the year ending December 31, 1999, and Purchaser shall prepare and distribute such Forms.
W-2 Matters. Pursuant to the alternate procedure described by Revenue Procedure 96-60, Purchaser will assume Seller's entire obligation to furnish Forms W-2 for the year ending December 31, 1997 to Transferred Business Employees. Seller will provide Purchaser the information not available to Purchaser and relating to periods ending on the Closing Date necessary for Purchaser to prepare and distribute Forms W-2 to Transferred Business Employees for the year ending December 31, 1997, which Forms W-2 will include all remuneration earned by Transferred Business Employees from Seller and Purchaser during the year ending December 31, 1997, and Purchaser will prepare and distribute such Forms. The information provided by Seller pursuant to this Section on 7.9 shall be true, correct and complete, and Seller shall hold Purchaser harmless and indemnify Purchaser for any penalty or other charge or loss incurred by Purchaser as a result of Seller providing inaccurate or incomplete information hereunder.
W-2 Matters. Pursuant to IRS Revenue Procedure 96-60, Buyer shall assume Seller's and/or Parent's obligation to furnish, and shall indemnify and hold -45- 53 harmless Seller and/or Parent, as the case may be, with respect to, Forms W-2 to Employees for the calendar year in which the Closing Date occurs. Seller and/or Parent, as the case may be, will provide Buyer with any information not available to Buyer relating to periods ending on the Closing Date necessary for Buyer to prepare and distribute Forms W-2 to Employees for the calendar year in which the Closing Date occurs, which Forms W-2 will include all remuneration earned by Employees from each of Seller, Parent and Buyer during such year, and Buyer will prepare and distribute such forms.
W-2 Matters. Purchaser will assume Seller's obligation to furnish Forms W-2 for the year ending December 31, 1999 to Hired Employees. Seller will provide or cause its agents to provide Purchaser the information not available to Purchaser and relating to periods ending on the Closing Date necessary for Purchaser or Purchaser's agent to prepare and distribute Forms W-2 to Hired Employees for the year ending December 31, 1999, which Forms W-2 will include all remuneration earned by Hired Employees from Seller and Purchaser during the year ending December 31, 1999, and Purchaser or Purchaser's agent will prepare and distribute such Forms.
W-2 Matters. Purchaser and the Seller shall follow the “standard procedure for predecessors and successors” set forth in Section 4 of Revenue Procedure 2004 53, 2004 34 IRB 320 with respect to Transferred Industrial Wood Employees.
