Tax Forms and Grant Taxability Clause Samples

The 'Tax Forms and Grant Taxability' clause defines the responsibilities of the parties regarding the provision of tax documentation and clarifies the tax treatment of any grants or payments made under the agreement. Typically, this clause requires recipients to provide necessary tax forms, such as W-9 or W-8BEN, to ensure proper tax reporting and withholding. It may also specify that the recipient is responsible for any taxes owed on the grant, and that the grantor is not liable for the recipient’s tax obligations. The core function of this clause is to ensure compliance with tax laws, allocate tax-related responsibilities, and prevent disputes over tax liabilities arising from the grant.
Tax Forms and Grant Taxability a. Grantee shall provide MassCEC with a properly completed United States Internal Revenue Service (“IRS”) Form W-9 (the “W-9”). Failure to provide the W-9 shall be grounds for withholding all Grant Installments until such W-9 is received. W-9s shall be emailed to ▇▇▇▇▇▇▇@▇▇▇▇▇▇▇.▇▇▇. b. Grants may be considered taxable income by the IRS and the Massachusetts Department of Revenue. Grantee is solely responsible for any failure to timely consult with a tax professional to determine the federal and/or state tax implications of this Agreement. MassCEC will issue an IRS Form 1099 to each Grantee. For all tax-exempt entities (including government entities), a tax- exemption certificate or IRS tax-exemption determination letter must be emailed to ▇▇▇▇▇▇▇@▇▇▇▇▇▇▇.▇▇▇.
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Tax Forms and Grant Taxability a. Grantee shall require that [Fiscal Agent Name] provide MassCEC with a properly completed United States Internal Revenue Service (“IRS”) Form W-9 (the “W-9”). Failure to provide the W-9 shall be grounds for withholding all Grant Installments until such W-9 is received. W-9s shall be emailed to ▇▇@▇▇▇▇▇▇▇.▇▇▇ b. Grants may be considered taxable income by the IRS and the Massachusetts Department of Revenue. Grantee is solely responsible for any failure to timely consult with a tax professional to determine the federal and/or state tax implications of this Agreement. MassCEC will issue an IRS Form 1099 to each Grantee. For all tax-exempt entities (including government entities), a tax- exemption certificate or IRS tax-exemption determination letter must be emailed to ▇▇@▇▇▇▇▇▇▇.▇▇▇
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Tax Forms and Grant Taxability. All non-residential Participants (including tax-exempt and governmental entities) shall provide MassCEC with a properly completed United States Internal Revenue Service Tax Form W-9 (the “W-9”) as part of the attached Application. In addition, all non- residential tax-exempt entities and governmental entities must provide a tax-exemption certification or IRS tax-exemption determination letter. W-9s and tax-exemption information (if applicable) should be emailed only to ▇▇▇▇▇▇▇@▇▇▇▇▇▇▇.▇▇▇. Grants may be considered taxable income by the U.S. Internal Revenue Service and the Massachusetts Department of Revenue. All Participants are strongly encouraged to consult with a tax professional to determine the federal and/or state tax implications of receipt of a grant. MassCEC will issue a Form 1099 to each non- residential Grantee who receives funds.
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Tax Forms and Grant Taxability a. Grantee shall provide MassCEC with a properly completed United States Internal Revenue Service (“IRS”) Form W-9 (the “W-9”). [If fiscal agent then sentence should read- Grantee shall require that [Fiscal Agent Name] provide MassCEC with a properly completed United States Internal Revenue Service ("IRS") Form W-9 (the "W-9").] Failure to provide the W-9 shall be grounds for withholding all Grant Installments until such W-9 is received. W-9s shall be emailed to ▇▇▇▇▇▇▇@▇▇▇▇▇▇▇.▇▇▇.
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Related to Tax Forms and Grant Taxability

  • Tax Status of Option This Option is intended to have the tax status designated in the Grant Notice.

  • Income Tax Characterization For purposes of federal income, state and local income and franchise and any other income taxes, the Issuer will, and each Noteholder by such Noteholder’s acceptance of any such Notes (and each Person who acquires an interest in any Notes through such Noteholder, by the acceptance by such Person of an interest in the applicable Notes) agrees to, treat the Notes that are characterized as indebtedness at the time of their issuance, and hereby instructs the Issuer to treat such Notes, as indebtedness for federal, state and other tax reporting purposes. Each Noteholder agrees that it will cause any Person acquiring an interest in a Note through it to comply with this Indenture as to treatment as indebtedness under applicable tax law, as described in this Section 3.21. The Notes will be issued with the intention that, for federal, state and local income and franchise tax purposes the Trust shall not be treated as an association or publicly traded partnership taxable as a corporation. The parties hereto agree that they shall not cause or permit the making, as applicable, of any election under Treasury Regulation Section 301.7701-3 (or any successor provision) whereby the Trust or any portion thereof would be treated as a corporation for federal income tax purposes. The provisions of this Indenture shall be construed in furtherance of the foregoing intended tax treatment.

  • Tax Characterization Each party to this Agreement (a) acknowledges that it is the intent of the parties to this Agreement that, for accounting purposes and for all Federal, state and local income and franchise tax purposes, the Series 2009-1 Notes will be treated as evidence of indebtedness, (b) agrees to treat the Series 2009-1 Notes for all such purposes as indebtedness and (c) agrees that the provisions of the Related Documents shall be construed to further these intentions.

  • Tax Forms (a) (i) Each Lender that is not a “United States person” within the meaning of Section 7701(a)(30) of the Code (a “Foreign Lender”) shall deliver to the Administrative Agent, prior to receipt of any payment subject to withholding under the Code (or upon accepting an assignment of an interest herein), two duly signed completed copies of either IRS Form W-8BEN or any successor thereto (relating to such Foreign Lender and entitling it to an exemption from, or reduction of, withholding tax on all payments to be made to such Foreign Lender by the Borrower pursuant to this Agreement) or IRS Form W-8ECI or any successor thereto (relating to all payments to be made to such Foreign Lender by the Borrower pursuant to this Agreement) or such other evidence satisfactory to the Borrower and the Administrative Agent that such Foreign Lender is entitled to an exemption from, or reduction of, U.S. withholding tax, including any exemption pursuant to Section 881(c) of the Code. Thereafter and from time to time, each such Foreign Lender shall (A) promptly submit to the Administrative Agent such additional duly completed and signed copies of one of such forms (or such successor forms as shall be adopted from time to time by the relevant United States taxing authorities) as may then be available under then current United States laws and regulations to avoid, or such evidence as is satisfactory to the Borrower and the Administrative Agent of any available exemption from or reduction of, United States withholding taxes in respect of all payments to be made to such Foreign Lender by the Borrower pursuant to this Agreement, (B) promptly notify the Administrative Agent of any change in circumstances which would modify or render invalid any claimed exemption or reduction, and (C) take such steps as shall not be materially disadvantageous to it, in the reasonable judgment of such Lender, and as may be reasonably necessary (including the re-designation of its Lending Office) to avoid any requirement of applicable Laws that the Borrower make any deduction or withholding for taxes from amounts payable to such Foreign Lender.

  • Section 83(b) Election The Grantee may make an election under Code Section 83(b) (a “Section 83(b) Election”) with respect to the Restricted Stock. Any such election must be made within thirty (30) days after the Grant Date. If the Grantee elects to make a Section 83(b) Election, the Grantee shall provide the Company with a copy of an executed version and satisfactory evidence of the filing of the executed Section 83(b) Election with the US Internal Revenue Service. The Grantee agrees to assume full responsibility for ensuring that the Section 83(b) Election is actually and timely filed with the US Internal Revenue Service and for all tax consequences resulting from the Section 83(b) Election.