The meaning of WITHHOLDING TAX is a deduction (as from wages, fees, or dividends) levied at a source of income as advance payment on income tax.
Related to Withholding taxes:Federal Income Tax Withheld with·hold·ing tax (wĭth-hōl′dĭng, wĭth-) n. A portion of an employee's wages or salary withheld by the employer as partial payment of the employee's income tax. Also calledpayroll tax,withholding. ...
withholding tax inTax topic From Longman Dictionary of Contemporary Englishwithˈholding ˌtaxnoun[countable, uncountable]American Englishmoney that is taken out of yourwagesastaxExamples from the Corpuswithholding tax•And more decisively, theyimposedawithholding taxtodeterforeignresidents frombuyingdomes...
Withholding tax definition: that part of an employee's tax liability withheld by the employer from wages or salary and paid directly to the government.. See examples of WITHHOLDING TAX used in a sentence.
the escrow holder will, without further order or instruction, transmit to the Grantee the certificate evidencing such Shares; provided, however, that no transmittal of certificates evidencing the Shares will occur unless and until the Grantee has satisfied allTax Withholding Obligations(as defined in ...
poll tax(noun) sales tax(noun) value–added tax(noun) withholding tax(noun) 1tax/ˈtæks/noun pluraltaxes Britannica Dictionary definition of TAX :an amount of money that a government requires people to pay according to their income, the value of their property, etc., and that is used...
6.Types of withholding tax 7.Impact of withholding tax on taxpayers and payers 3 key takeaways Withholding tax is deducted at the source of income and remitted to the tax authorities on behalf of the recipient. It applies to various types of income, including wages, interest, dividends, and...
Withholding Income Tax means a retention tax on income, to be paid to a Tax Authority by the payor of the income rather than the recipient of the income. Withholding Income Tax is withheld or deducted by the payor from the income due to the recipient.Sample...
2 : to refuse to grant, give, or allow withhold permission 3 : to deduct (withholding tax) from income withholder noun More from Merriam-Webster on withhold Nglish: Translation of withhold for Spanish Speakers Britannica English: Translation of withhold for Arabic SpeakersLast...
Withholding could be considered an installment payment on the tax that an employee will owe for the full year. Form W-4 requires information such as marital status and number of dependents so that employers can determine the amount to withhold. ...