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Indemnity Provisions - Dollar Exposure of the Indemnity regarding Tax...

Broward Florida Indemnity Provisions - Dollar Exposure of the Indemnity regarding Tax and Insurance Considerations

Name: Broward Florida Indemnity Provisions - Dollar Exposure of the Indemnity regarding Tax and Insurance Considerations
Brand: US Legal Forms
Rating: 4.74 (377 reviews)

Category:

Contracts - Clauses - Indemnification

State:

Multi-State

County:

Broward

Control #:

US-ND1011

Format:

Instant download

Description

This form provides boilerplate contract clauses that restrict or limit the dollar exposure of any indemnity under the contract agreement with regards to taxes or insurance considerations.

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How to fill out Broward Florida Indemnity Provisions - Dollar Exposure Of The Indemnity Regarding Tax And Insurance Considerations?

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FAQ

Fixed indemnity payments are taxable when premiums are paid by the employer or by employees on a pre-tax basis. When fixed indemnity payments are taxable, employers may need to work with insurance carriers to implement a process for tax withholding.

An indemnification provision allocates the risk and expense in the event of a breach, default, or misconduct by one of the parties. By Jennifer Paley. An indemnification provision, also known as a hold harmless provision, is a clause used in contracts to shift potential costs from one party to the other.

Tax Indemnity means the deed of covenant against Taxation in the Agreed Terms to be entered into on or around the date of this Agreement and a Tax Indemnity Claim means a claim for breach of, or under, the Tax Indemnity; Sample 2. Sample 3. Based on 8 documents. 8.

Tax law, however, does not generally treat indemnity payments as taxable income to the target corporation, but instead as a tax-free recovery of capital. 7 Thus, the target corporation may get a deduction for the loss without offsetting income from the indemnity payment.

No, generally. The proceeds of an accident and health policy, like AFLAC are not reportable as income so long as you did not deduct the premiums, and so long as this is not an employer provided fringe benefit.

Indemnity Payments (1) The losses paid or expected to be paid directly to an insured by an insurer for first-party (e.g., property) coverages or on behalf of an insured for third-party (e.g., liability) coverages. (2) Payments made by the indemnitor under a hold harmless clause on behalf of the indemnitee.

Tax indemnity insurance is a specialist product designed to indemnify the insured for any additional tax that becomes due following a business sale or restructure.

However, an indemnity would still have to meet the requirements for a valid contract as it (in common with a guarantee) is only enforceable as a contractual obligation. Therefore, there must be offer and acceptance, and consideration.

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Commissioner Gunzburger asked about the deletion of the indemnification clause. E. Good Faith and Fair Dealing, 11.F. Procurement Ethics Issues, 11. Building Property Coverage for Tenant's Policy . Give information on how your firm can be certified with Broward County. And appropriate reconciliations to statutory measures are provided on pages 45 to 50. Filed with the Federal Deposit Insurance Corporation on July 15, 2021 (the "Original Filing").

Broward Florida Indemnity Provisions - Dollar Exposure of the Indemnity regarding Tax and Insurance Considerations

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