Georgia Closing Agreement

• Category: Corporations - Public
• State: Multi-State
• Control #: US-EG-9432
• Format: Word; Rich Text

Description

Closing Agreement between NetRatings, Inc. and Nielsen Media Research, Inc. setting forth the closing procedures for additional investments dated December 21, 1999. 2 pages. The Georgia Closing Agreement is a legally binding document that is used in the state of Georgia to resolve tax issues and disputes between taxpayers and the Georgia Department of Revenue (GDR). This agreement provides a way for taxpayers to settle their outstanding tax liabilities, penalties, and interests with the GDR effectively, efficiently, and amicably. The Georgia Closing Agreement is a comprehensive resolution that encompasses various aspects of tax disputes, including income tax, sales tax, use tax, motor fuel tax, and other taxes and fees administered by the GDR. It serves as a final settlement between the taxpayer and the GDR, putting an end to any ongoing disagreements or controversies. Typically, the Georgia Closing Agreement is initiated when a taxpayer wishes to resolve a tax issue or has been audited by the GDR. It is commonly used in situations where the taxpayer believes there is an error or disagreement in their tax assessment, and they want to negotiate a mutually acceptable resolution. There are several types of Georgia Closing Agreements that can be entered into, depending on the specific circumstances: 1. Income Tax Closing Agreement: This type of agreement is used to settle income tax liabilities between the taxpayer and the GDR. It can involve negotiations on income adjustments, deductions, credits, or any other related matters. 2. Sales and Use Tax Closing Agreement: This agreement specifically addresses any disputes or discrepancies related to sales tax or use tax obligations. It may include discussions on tax ability of certain transactions, exemptions, remittance issues, or other related concerns. 3. Motor Fuel Tax Closing Agreement: This type of agreement is specific to motor fuel tax obligations. It covers issues such as reporting errors, tax rates, fuel usage calculations, and any challenges to the GDR's assessment. 4. Penalty Abatement Closing Agreement: In situations where the taxpayer has been assessed penalties or interests by the GDR, a Penalty Abatement Closing Agreement can be negotiated. This indicates reaching an agreement on reducing or waiving the penalties, leading to a final resolution. To enter into a Georgia Closing Agreement, the taxpayer must usually submit a formal request in writing to the GDR, detailing the specific tax dispute or issue at hand. The GDR will then review the request and initiate negotiations with the taxpayer. Through effective communication and cooperation, both parties work towards reaching a fair and mutually agreeable resolution, settling the tax matter and avoiding litigation. In summary, the Georgia Closing Agreement is a crucial tool designed to resolve tax disputes in the state. It provides taxpayers with the opportunity to negotiate and settle their tax liabilities in a comprehensive and efficient manner, thereby avoiding prolonged litigation and achieving a satisfactory resolution.

The Georgia Closing Agreement is a legally binding document that is used in the state of Georgia to resolve tax issues and disputes between taxpayers and the Georgia Department of Revenue (GDR). This agreement provides a way for taxpayers to settle their outstanding tax liabilities, penalties, and interests with the GDR effectively, efficiently, and amicably. The Georgia Closing Agreement is a comprehensive resolution that encompasses various aspects of tax disputes, including income tax, sales tax, use tax, motor fuel tax, and other taxes and fees administered by the GDR. It serves as a final settlement between the taxpayer and the GDR, putting an end to any ongoing disagreements or controversies. Typically, the Georgia Closing Agreement is initiated when a taxpayer wishes to resolve a tax issue or has been audited by the GDR. It is commonly used in situations where the taxpayer believes there is an error or disagreement in their tax assessment, and they want to negotiate a mutually acceptable resolution. There are several types of Georgia Closing Agreements that can be entered into, depending on the specific circumstances: 1. Income Tax Closing Agreement: This type of agreement is used to settle income tax liabilities between the taxpayer and the GDR. It can involve negotiations on income adjustments, deductions, credits, or any other related matters. 2. Sales and Use Tax Closing Agreement: This agreement specifically addresses any disputes or discrepancies related to sales tax or use tax obligations. It may include discussions on tax ability of certain transactions, exemptions, remittance issues, or other related concerns. 3. Motor Fuel Tax Closing Agreement: This type of agreement is specific to motor fuel tax obligations. It covers issues such as reporting errors, tax rates, fuel usage calculations, and any challenges to the GDR's assessment. 4. Penalty Abatement Closing Agreement: In situations where the taxpayer has been assessed penalties or interests by the GDR, a Penalty Abatement Closing Agreement can be negotiated. This indicates reaching an agreement on reducing or waiving the penalties, leading to a final resolution. To enter into a Georgia Closing Agreement, the taxpayer must usually submit a formal request in writing to the GDR, detailing the specific tax dispute or issue at hand. The GDR will then review the request and initiate negotiations with the taxpayer. Through effective communication and cooperation, both parties work towards reaching a fair and mutually agreeable resolution, settling the tax matter and avoiding litigation. In summary, the Georgia Closing Agreement is a crucial tool designed to resolve tax disputes in the state. It provides taxpayers with the opportunity to negotiate and settle their tax liabilities in a comprehensive and efficient manner, thereby avoiding prolonged litigation and achieving a satisfactory resolution.