Withholding Agent definition: Copy, customize, and use instantly
Introduction
The term "Withholding Agent" refers to an individual or entity responsible for withholding taxes from a payment and remitting them to the appropriate government authority. This term is commonly used in tax-related documents, contracts, and regulations.
Below are various examples of how "Withholding Agent" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Withholding Agent" in general terms
This definition ties "Withholding Agent" to its role in tax collection.
"Withholding Agent" refers to an individual or entity that is required by law to withhold a portion of a payment, such as income or dividends, and remit it to the tax authorities.
Definition of "Withholding Agent" in employment tax
This definition connects "Withholding Agent" to payroll responsibilities.
"Withholding Agent" means the employer who is responsible for withholding income tax from an employee’s paycheck and remitting it to the government.
Definition of "Withholding Agent" in foreign transactions
This definition links "Withholding Agent" to international tax obligations.
"Withholding Agent" refers to a party responsible for withholding taxes on payments made to foreign entities or individuals, often in the context of cross-border transactions.
Definition of "Withholding Agent" in income tax law
This definition ties "Withholding Agent" to legal compliance.
"Withholding Agent" means an individual or business entity that must withhold federal, state, or local taxes from income payments and transfer them to the tax authorities.
Definition of "Withholding Agent" in investment income
This definition connects "Withholding Agent" to financial transactions.
"Withholding Agent" refers to a financial institution or other payer responsible for withholding taxes on interest, dividends, or capital gains distributions to investors.
Definition of "Withholding Agent" in contract agreements
This definition ties "Withholding Agent" to contractual obligations.
"Withholding Agent" means any entity that is required to withhold taxes from payments made under a contract, such as payments to contractors, employees, or vendors.
Definition of "Withholding Agent" in government reporting
This definition links "Withholding Agent" to tax filings.
"Withholding Agent" refers to the individual or company required to submit tax reports that outline the taxes withheld from payments made to employees or other parties.
Definition of "Withholding Agent" in non-resident taxation
This definition connects "Withholding Agent" to taxation of foreign persons.
"Withholding Agent" means an entity responsible for withholding taxes from payments made to non-resident individuals or businesses, as prescribed by tax treaties or local tax laws.
Definition of "Withholding Agent" in sales tax
This definition ties "Withholding Agent" to tax collection in sales.
"Withholding Agent" refers to a business entity that is responsible for withholding sales taxes on certain transactions, such as sales of goods or services, and remitting them to the authorities.
Definition of "Withholding Agent" in real estate transactions
This definition links "Withholding Agent" to property sales.
"Withholding Agent" means an individual or entity required to withhold taxes from the sale of real estate, such as capital gains taxes, and remit them to the relevant tax authority.
Definition of "Withholding Agent" in loan agreements
This definition connects "Withholding Agent" to financial contracts.
"Withholding Agent" refers to a party in a loan agreement who is responsible for withholding and remitting any taxes related to interest payments to the lender or borrower.
Definition of "Withholding Agent" in partnership distributions
This definition ties "Withholding Agent" to partnership tax responsibilities.
"Withholding Agent" means a partner or other responsible entity that withholds taxes on distributions made to partners and remits those taxes to the IRS or other tax authorities.
Definition of "Withholding Agent" in trusts and estates
This definition links "Withholding Agent" to estate tax obligations.
"Withholding Agent" refers to the fiduciary of a trust or estate who must withhold taxes from distributions to beneficiaries and forward those amounts to the relevant tax authority.
Definition of "Withholding Agent" in retirement plans
This definition connects "Withholding Agent" to pension or savings accounts.
"Withholding Agent" means an entity, such as an employer or plan administrator, responsible for withholding taxes from distributions from retirement or pension plans.
Definition of "Withholding Agent" in international treaties
This definition ties "Withholding Agent" to tax agreements.
"Withholding Agent" refers to a party designated by a tax treaty to withhold taxes on payments made between countries in accordance with the treaty’s provisions.
Definition of "Withholding Agent" in the context of corporate dividends
This definition links "Withholding Agent" to corporate dividend distributions.
"Withholding Agent" refers to a corporation that is responsible for withholding taxes from dividends distributed to shareholders and remitting those taxes to tax authorities.
Definition of "Withholding Agent" in corporate mergers and acquisitions
This definition connects "Withholding Agent" to tax compliance in business transactions.
"Withholding Agent" refers to the company or entity responsible for withholding taxes during mergers or acquisitions, particularly in cross-border transactions.
Definition of "Withholding Agent" in government contracts
This definition ties "Withholding Agent" to contract compliance.
"Withholding Agent" means a contractor who withholds taxes from payments made to subcontractors or employees and ensures they are paid to the relevant government authority.
Definition of "Withholding Agent" in tax penalties
This definition links "Withholding Agent" to penalty enforcement.
"Withholding Agent" refers to an entity that could be subject to penalties if it fails to properly withhold or remit taxes, as required by law.
Definition of "Withholding Agent" in personal income tax
This definition connects "Withholding Agent" to personal tax obligations.
"Withholding Agent" refers to an employer or other individual responsible for withholding personal income taxes from an employee’s wages or salary and submitting them to tax authorities.
Definition of "Withholding Agent" in the context of interest income
This definition ties "Withholding Agent" to tax on interest.
"Withholding Agent" refers to a financial institution that is responsible for withholding taxes on interest income paid to individuals or entities and remitting those taxes to the tax authority.
Definition of "Withholding Agent" in a buy-sell agreement
This definition links "Withholding Agent" to transactions in business agreements.
"Withholding Agent" means a party to a buy-sell agreement who is tasked with withholding taxes from the transaction and forwarding the amounts to the appropriate tax authority.
Definition of "Withholding Agent" in foreign income payments
This definition connects "Withholding Agent" to international payments.
"Withholding Agent" refers to a party required to withhold taxes on income paid to foreign nationals or entities and remit the amount to the IRS or other tax authorities.
Definition of "Withholding Agent" in compensation plans
This definition ties "Withholding Agent" to compensation tax deductions.
"Withholding Agent" refers to an employer or other responsible entity that withholds applicable taxes from employee compensation and submits the amounts to tax authorities.
Definition of "Withholding Agent" in cross-border business operations
This definition links "Withholding Agent" to international business dealings.
"Withholding Agent" refers to a business that conducts cross-border transactions and is responsible for withholding taxes on certain payments made to foreign contractors, suppliers, or entities.
Definition of "Withholding Agent" in charitable contributions
This definition connects "Withholding Agent" to donations and taxes.
"Withholding Agent" refers to a party responsible for withholding taxes from charitable contributions, where applicable, and forwarding the taxes to the relevant government body.
Definition of "Withholding Agent" in the context of tax evasion prevention
This definition ties "Withholding Agent" to anti-tax evasion measures.
"Withholding Agent" refers to an entity or individual designated to withhold and remit taxes to ensure compliance with tax laws and prevent tax evasion.
Definition of "Withholding Agent" in investment funds
This definition links "Withholding Agent" to fund tax obligations.
"Withholding Agent" refers to an investment fund manager who is responsible for withholding taxes on earnings distributed to investors and submitting them to the tax authorities.
Definition of "Withholding Agent" in international finance
This definition connects "Withholding Agent" to global financial regulations.
"Withholding Agent" refers to a party in international finance required to withhold and remit taxes on certain international financial transactions, including foreign exchange or securities trading.
Definition of "Withholding Agent" in trust distributions
This definition ties "Withholding Agent" to income tax on trust funds.
"Withholding Agent" means the trustee who is responsible for withholding taxes from trust distributions to beneficiaries and submitting the tax amounts to the appropriate authority.
Definition of "Withholding Agent" in pension distributions
This definition links "Withholding Agent" to pension tax obligations.
"Withholding Agent" refers to an entity responsible for withholding taxes from pension or retirement distributions to individuals, particularly in cases where they are receiving taxable income.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.