Constructive Receipt Sample Clauses

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Constructive Receipt. In the event the Committee determines that amounts deferred under the Plan have been constructively received by a Participant and must be recognized as income for federal income tax purposes, such amounts shall be distributed to the Participant. The determination of the Committee under this Section 5.6 shall be binding and conclusive.
Constructive Receipt. For purposes of determining when a non- refundable fee may be imposed in accordance with this subsection if the disclosures and pamphlet referred to in paragraph (1) are mailed to the consumer, the date of the re- ceipt of the disclosures by such consumer shall be deemed to be 3 business days after the date of mailing by the creditor. (Pub. L. 90–321, title I, § 137, as added Pub. L. 100–709, § 3, Nov. 23, 1988, 102 Stat. 4731; amended
Constructive Receipt. Once Constructive Receipt has occurred for any given piece of Equipment, remittance of proceeds to the Seller may occur. Any dispute claims filed by the Buyer under protection of IronPlanet’s IronClad Assurance (“Dispute Claims”) after Constructive Receipt has occurred are invalid, as set forth in Section VI. “Construction Receipt” of Equipment occurs at the first occurrence of any of the following milestones (unless a Dispute Claim has been previously filed by the Buyer), provided full payment has been received by IronPlanet for the Equipment.
Constructive Receipt. In the event that it is determined by the IRS that the retirement benefit listed in this Article is constructively received by the individual employee in the year that the employee first becomes eligible to receive the benefit (and not in the year that the person retires), the School District agrees to the following: Subdivision 1. The School District will withhold from the imputed income and transmit to the IRS the amount necessary to comply with normal tax withholding standards under IRS rules in the year that the income is constructively received. Subdivision 2. The remaining portion of the retirement benefit will be paid out in accordance with the terms of this Agreement.
Constructive Receipt. In the event that it is determined by the IRS that the severance benefit listed in this Article is constructively received by the individual employee in the year that the employee first becomes eligible to receive the benefit (and not in the year that the person retires), the employer agrees to the following:  The employer will estimate the amount of tax the employee owes and withhold from severance payments the employee is eligible to receive the amount necessary to comply with normal tax withholding standards under IRS rules in the year that the income is constructively received.
Constructive Receipt. The City of Oakland (“The City”) and the Confidential Management Employees Association (“CMEA”) (collectively “The Parties”) agree to this Letter of Understanding modifying portions of the 2019-2021 Memorandum of Understanding between the parties (“MOU”) to address issues of constructive receipt.
Constructive Receipt. Under the doctrine of "constructive receipt", any deferral election by an employee must be made before the income is earned. If the income is already payable when the deferral election is made, the employee's ability to receive the income currently will cause him or her to be taxed as if the income had been paid at the time the election was made. (This rule is sometimes paraphrased as: "You can't turn your back on income you are already entitled to.") It is usually not difficult to time a deferral election relating to salary payments. The election must be made before the salary period begins in which the services will be performed. Timing the deferral election is somewhat more difficult with bonus payments. Although a bonus may only be payable in the fourth quarter of a fiscal year, many tax advisors are uncomfortable with a bonus deferral election made after the first quarter, under the theory that the bonus is already partly earned.
Constructive Receipt. Carrier's duties and liabilities shall commence upon execution of a receipt evidenced by driver's signature, and upon driver taking possession of the vehicle containing such shipment. In the event Shipper has completed loading and placement of vehicle at point for pickup by Carrier, completed a ▇▇▇▇ of lading as receipt, notified Carrier of shipment's availability, and the Carrier does not take possession within a reasonable time, which is agreed to be no longer than two (2) hours, Carrier agrees it will be understood to have taken possession under a concept of constructive receipt and Carrier's liability shall commence without actual possession.

Related to Constructive Receipt

  • How Much May I Contribute to a ▇▇▇▇ ▇▇▇ As a result of the Economic Growth and Tax Relief Reconciliation Act (“EGTRRA”) of 2001, the maximum dollar amount of annual contributions you may make to a ▇▇▇▇ ▇▇▇ is $5,500 for tax years beginning in 2013 with the potential for Cost-of-Living Adjustment (COLA) increases in $500 increments. However, these amounts are phased out or eliminated entirely if your adjusted gross income is over a certain level, as explained in more detail below. Year 2020 2021 ▇▇▇▇ ▇▇▇ Contribution Limit $6,000 $6,000 You may make annual contributions to a ▇▇▇▇ ▇▇▇ in any amount up to 100% of your compensation for the year or the maximum contribution limits shown in the table above, whichever is less. The limitation is reduced by any contributions made by you or on your behalf to any other individual retirement plan (such as a Traditional IRA) except SEP IRAs and SIMPLE IRAs. Your annual contribution limitation is not reduced by contributions you make to a ▇▇▇▇▇▇▇▇▇ Education Savings Account that covers someone other than yourself. In addition, qualifying rollover contributions and transfers are not subject to these limitations. If you are age 50 or older by the end of the year, you may make additional “catch-up” contributions to a ▇▇▇▇ ▇▇▇. The “catch-up” contribution limit is $1,000 for tax years 2009 and beyond. If you are married and file a joint return, you may make contributions to your spouse’s ▇▇▇▇ ▇▇▇. However, the maximum amount contributed to both your own and to your spouse’s ▇▇▇▇ ▇▇▇ may not exceed 100% of your combined compensation or the maximum contribution shown in the table above, whichever is less. The maximum amount that may be contributed to either your ▇▇▇▇ ▇▇▇ or your spouse’s ▇▇▇▇ ▇▇▇ is shown in the table above. Again, these dollar limits are reduced by any contributions made by or on behalf of you or your spouse to any other individual retirement plan (such as a Traditional IRA) except SEP IRAs and SIMPLE IRAs. Again, the limit is not reduced for contributions either of you make to a ▇▇▇▇▇▇▇▇▇ Education Savings Account for someone other than yourselves. As noted in Item 1, your eligibility to contribute to a ▇▇▇▇ ▇▇▇ depends on your AGI (as defined below). The amount that you may contribute to a ▇▇▇▇ ▇▇▇ is reduced proportionately for AGI which exceeds the applicable dollar amount. For the 2020 and 2021 tax years, the amount that you may contribute to your ▇▇▇▇ ▇▇▇ is as follows: Single Individual Year Eligible to Make a Contribution if AGI is Less Than: Eligible to Make a Partial Contribution if AGI is Between: Not Eligible to Make A Contribution if AGI is Over: 2020 $124,000 $124,000 - $139,000 $139,000 2021 & After - sub- ject to COLA increases $125,000 $125,000 - $140,000 $140,000 Married Individual Filing a Joint Income Tax Return Year Eligible to Make a Contribution if AGI is Less Than: Eligible to Make a Partial Contribution if AGI is Between: Not Eligible to Make A Contribution if AGI is Over: 2020 $196,000 $196,000 - $206,000 $206,000 2021 & After - sub- ject to COLA increases $198,000 $198,000 - $208,000 $208,000 If you are a married taxpayer filing separately, your contribution phases out over the first $10,000 of AGI, so that if your AGI is $10,000 or more you may not contribute to a ▇▇▇▇ ▇▇▇ for the year. Note that the amount you may contribute to a ▇▇▇▇ ▇▇▇ is not affected by your participation in an employer-sponsored retirement plan. To determine the amount you may contribute to a ▇▇▇▇ ▇▇▇ (assuming it does not exceed 100% of your compensation), you can refer to IRS Publication 590-A: Modified Adjusted Gross Income for ▇▇▇▇ ▇▇▇ Purposes and Determining Your Reduced ▇▇▇▇ ▇▇▇ Contribution Limit. The amount you contribute may not exceed the maximum contribution limits shown in the table above reduced by the amount contributed on your behalf to all other individual retirement accounts (except SEP IRAs and SIMPLE IRAs). Your contribution to a ▇▇▇▇ ▇▇▇ is not reduced by any amount you contribute to a ▇▇▇▇▇▇▇▇▇ Education Savings Account for the benefit of someone other than yourself. If you are the beneficiary of a ▇▇▇▇▇▇▇▇▇ Education Savings Account, additional limits may apply to you. Please contact your tax advisor for more information.

  • Change in Employment Status The District shall promptly notify the OEA Membership Specialist whenever an employee in the bargaining unit is placed on an unpaid leave of absence, retires, is laid off, resigns, or changes their name.

  • What Will Happen After We Receive Your Letter When we receive your letter, we must do two things:

  • Happen After We Receive Your Letter When we receive your letter, we must do two things:

  • Admission of a Substitute or Additional General Partner A Person shall be admitted as a substitute or additional General Partner of the Partnership only if the following terms and conditions are satisfied: (a) the Person to be admitted as a substitute or additional General Partner shall have accepted and agreed to be bound by all the terms and provisions of this Agreement by executing a counterpart thereof and such other documents or instruments as may be required or appropriate in order to effect the admission of such Person as a General Partner, and a certificate evidencing the admission of such Person as a General Partner shall have been filed for recordation and all other actions required by Section 2.5 hereof in connection with such admission shall have been performed; (b) if the Person to be admitted as a substitute or additional General Partner is a corporation or a partnership it shall have provided the Partnership with evidence satisfactory to counsel for the Partnership of such Person’s authority to become a General Partner and to be bound by the terms and provisions of this Agreement; and (c) counsel for the Partnership shall have rendered an opinion (relying on such opinions from other counsel and the state or any other jurisdiction as may be necessary) that the admission of the person to be admitted as a substitute or additional General Partner is in conformity with the Act, that none of the actions taken in connection with the admission of such Person as a substitute or additional General Partner will cause (i) the Partnership to be classified other than as a partnership for federal income tax purposes, or (ii) the loss of any Limited Partner’s limited liability.