Payroll Tax Liability definition

Payroll Tax Liability means any and all federal, state, and local tax liabilities including without limitation income and payroll taxes, due on each Participating Class Member’s Wage Portion Before Taxes, irrespective of whether the said tax liability is or could have been satisfied by the Defendant’s contribution of the tax, or withholding from the employee’s wages, or through a combination of both. For the avoidance of doubt, Payroll Tax Liability includes, but is not limited to, federal income tax, state income tax, Social Security and Medicare taxes, which make up the Federal Insurance Contributions Act (FICA), Employer’s Annual Federal Unemployment (FUTA) tax, the Additional Medicare Tax, the State of California’s Unemployment Insurance (UI), Employment Training Tax (ETT), the California Personal Income Tax (PIT), the California State Disability Insurance (SDI) tax, local taxes, and any interest or penalties potentially due thereon.
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Payroll Tax Liability means the liability of PPSI for the failure to pay payroll taxes to the IRS for the period from and including January 1, 2014 until and including September 30, 2015.
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Payroll Tax Liability means the liability of the Borrower for the failure to pay payroll taxes to the IRS for the period from and including January 1, 2014 until and including September 30, 2015.
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Examples of Payroll Tax Liability in a sentence

  • Determine each Participating Class Member’s Payroll Tax Liability on the Wage Portion Before Taxes.

  • Payroll Tax Liability The Company was delinquent in the payment of payroll taxes to the Internal Revenue Service ("IRS").

  • Since December 31, 2015, except for the Payroll Tax Liability, there has been no change in the condition (financial or otherwise) or business prospects of any Loan Party or any Subsidiary of a Loan Party except those occurring in the ordinary course of business, which individually or in the aggregate would reasonably be expected to have a Material Adverse Effect.

  • The Company shall implement an appropriate plan to retire the Company's current IRS Payroll Tax Liability, and secure appropriate and qualified tax professionals to initiate payment resolution with the IRS.

  • This presentation will encompass the hurdles associated with small and large businesses, focusing on the issues that pertain to both.

  • The Wage Portion Before Taxes for each Participating Class Member, calculated as set forth above, is subject to Payroll Tax Liability.

  • Without limitation of the foregoing, the Acquired Companies will not use or otherwise apply any such Stimulus Funds received by them toward the reduction of the Deferred Payroll Tax Liability.

  • This clause 17.5 shall not cover a Payroll Tax Liability if and to the extent that the Buyer has been compensated for the Payroll Tax Liability under any other provision of this Agreement.

  • IRS Issues Final Regulations on Payroll Tax Liability of Third-Party.

  • All present voted, “Yes.”J) INTRODUCTORY READING OF RESOLUTIONS1) RESOLUTION AUTHORIZING AN AGREEMENT WITH GREAT LAKES RECYCLING, INC.


More Definitions of Payroll Tax Liability

Payroll Tax Liability has the meaning given in paragraph 1 of Part 1 of Schedule 5;
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Payroll Tax Liability means any Tax Liability which comprises Payroll Tax and which arises in respect of or by consequence of or by reference to any provision of or right to receive or forfeiture or clawback of Consideration, including, without limitation, any right to acquire, or the allotment, issuance, holding, vesting, forfeiture, clawback, disposal of, or the lifting or variation of any restrictions relating to, any Buyer Shares, or any right to acquire or the issuance, holding, redemption, disposal of any Loan Notes or the making of an election under section 431 ITEPA;
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Related to Payroll Tax Liability

  • Payroll Taxes means State Unemployment Insurance (SUI), Federal Unemployment Insurance (FUI), and payments pursuant to the Federal Insurance Contributions Act (FICA).

  • Actual Tax Liability means, with respect to any Taxable Year, the liability for Covered Taxes of the Corporation (a) appearing on Tax Returns of the Corporation for such Taxable Year and (b) if applicable, determined in accordance with a Determination (including interest imposed in respect thereof under applicable law).

  • Hypothetical Tax Liability means, with respect to any Taxable Year, the Hypothetical Federal Tax Liability for such Taxable Year, plus the Hypothetical Other Tax Liability for such Taxable Year.

  • Tax Liability means the total taxes due to a municipal corporation for the taxable year, after allowing any credit to which the taxpayer is entitled, and after applying any estimated tax payment, withholding payment, or credit from another taxable year.

  • Assumed Tax Liability means, with respect to any Member, an amount equal to the excess of (i) the product of (A) the Distribution Tax Rate multiplied by (B) the estimated or actual cumulative taxable income or gain of the Company, as determined for federal income tax purposes, allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, less prior losses of the Company allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, in each case, as determined by the Manager and to the extent such prior losses are available to reduce such income over (ii) the cumulative Tax Distributions made to such Member after the closing date of the IPO pursuant to Sections 4.01(b)(i), 4.01(b)(ii) and 4.01(b)(iii) and, if applicable with respect to such Fiscal Year, pursuant to Section 4.1(a) of the Previous LLC Agreement; provided that, in the case of the Corporation, such Assumed Tax Liability (x) shall be computed without regard to any increases to the tax basis of the Company’s property pursuant to Sections 734(b) or 743(b) of the Code and (y) to the extent permitted under the Credit Agreements and applicable Law, shall in no event be less than an amount that will enable the Corporation to meet both its tax obligations and its obligations pursuant to the Tax Receivable Agreement for the relevant Taxable Year; provided further that, in the case of each Member, and for the avoidance of doubt, such Assumed Tax Liability shall take into account any Code Section 704(c) allocations (including “reverse” 704(c) allocations) to the Member.

  • Tax Liabilities means all liabilities for Taxes.

  • Transaction Payroll Taxes means all employer portion payroll or employment Taxes incurred in connection with any bonuses, option cash-outs or other compensatory payments in connection with the Transactions.

  • State premium tax liability means any liability

  • council tax benefit means council tax benefit under Part 7 of the SSCBA; “couple” has the meaning given by paragraph 4;

  • Income Tax Return means any Tax Return relating to Income Taxes.

  • Income Tax Returns means all Tax Returns relating to Income Taxes.

  • Non-Income Tax Return means any Tax Return relating to Taxes other than Income Taxes.

  • Employee Taxes means all taxes, assessments, charges and other amounts whatsoever payable in respect of, and measured by the wages of, the Vendor’s employees (or subcontractors), as required by the Federal Social Security Act and all amendments thereto and/or any other applicable federal, state or local law.

  • Tax means any tax, levy, impost, duty or other charge or withholding of a similar nature (including any penalty or interest payable in connection with any failure to pay or any delay in paying any of the same).

  • Post-Distribution Tax Period means a Tax year beginning and ending after the Distribution Date.

  • Income Taxes means any Tax which is based upon, measured by, or calculated with respect to (i) net income or profits (including, but not limited to, any capital gains, gross receipts, value added or minimum Tax) or (ii) multiple bases (including, but not limited to, corporate franchise, doing business or occupation Taxes) if one or more of the bases upon which such Tax may be based, by which it may be measured, or with respect to which it may be calculated is described in clause (i) of this sentence.

  • Local taxes means all taxes levied other than taxes levied for school operating purposes.

  • Pre-Tax Contributions means, for any Participant, the aggregate of the Participant's Basic Pre-Tax Contributions and Supplemental Pre-Tax Contributions contributed to the applicable Pre-Tax Contribution Account.

  • Income Tax Expense means, with respect to the Borrowers, for any period, the aggregate, without duplication, of all Taxes on the income of such Person for such period, whether current or deferred, determined on a Modified Consolidated Basis.

  • Separate Return means (a) in the case of any Tax Return of any member of the SpinCo Group (including any consolidated, combined or unitary return), any such Tax Return that does not include any member of the Parent Group and (b) in the case of any Tax Return of any member of the Parent Group (including any consolidated, combined or unitary return), any such Tax Return that does not include any member of the SpinCo Group.

  • Straddle Tax Period means a Tax period that begins on or before the Closing Date and ends thereafter.

  • Pre-Distribution Tax Period means any taxable period (or portion thereof) that ends on or before the Distribution Date.

  • Tax Benefit Payment is defined in Section 3.1(b) of this Agreement.

  • U.S. Taxes means any present or future tax, assessment or other charge or levy imposed by or on behalf of the United States of America or any taxing authority thereof or therein.

  • Tax Payments has the meaning set forth in the definition of Permitted Payments to Parent.

  • Pre-Tax Earnings means the Corporation's earnings before income taxes as reported in the Company's Consolidated Income Statement for each fiscal year of the Performance Period, excluding any non-cash charge incurred in accordance with accounting principles generally accepted in the United States of America (GAAP) for any restricted stock or restricted stock unit awards granted during the Performance Period and all options, restricted stock and other equity compensation granted to Directors during the Performance Period.