HomeMy WebLinkAboutRESO 1399•
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452
R E S 0 L U T I C N ;i 0 • l "I,QQ
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l'RGV!Dn:a FOR WITHHOLDING AND HANDLING OF
VICTORY TAX FU!\'DS
\·l:ffiR'!<;As, the He venue Act of 194? impose:.-: n 1 ov~· cf ::·~~
on t~c ~rons 1~eorne, de!!ned ns t~e victory tn~ net incone, of
f''.'f'l'Y 1.:~<1:'. v!duB.l, wh1.ch l~ :required to bt: col:<.?ctC'd at the source
b~ .. (.a;~:pJ. ~·~(.')"'~;
~~··:rt;''ll';;'AS ..,,.,..1,d ~r,"l I'•Jn,.,., ,.. ...... ," •. "'"""" .,,,b ~f'Ct ,. '"' +->·.,., t"-v "'n~ rt,...~ .. ,.J,:"\~..._ I ~ • .t\.ooi.JJ _.,.~_r'"---· _. -~·...,·.;,;jr: ... .,J ......,""' ., '};.,!. ,t ., • w-...J ~ ....... ~ f'"J...,~ ...... A..i:
:::'.::-;1.c1~;~litlc~,l are ::nA.<!e withholding ~~cent~J end l"C'!"J'.llred to vith-
:~oJd ~...:c~ t.1;,x an(j to retul:'n A.nd p.~.y O\•er the proc!"EH1n t~leJ•eof" to
C~f-' F'c·derr.l. G0v•.:rnmer:tt.
'rl!I:S:S:EAS j the tn.:-: Attft:l.ches to r1ll wftzeg ;~.1ll a~ incoME'
.<\!'t c ::-J.::1 m.i~' rJ' l, :I..) If 3 1 rf•£.:!.trc1le s s of \•then t11~;..· :n•f:! ~"'-!:~rnl"d; !"! nd
}f:!rF'.Jl.EAS I deductions J D.t trle o:;tton or t:-,e ~m~loy .. ~!" I :ne.y
1:'11~ com~ut~o on the .Q.mo"Unt act1J.'1E~· ;.'):.d t1t .... n~· ,.<tyroll pe1•tod Cor
~;en the basis of vage brecket w1thhold1~e set forth !n tho Act c~(ol't-1,-,~, !•((-fc) -ro .. rn·u -·"''!•oll "'"r1,...,'a :tw-.,...'14-•,.,.1. t,.·_l \ ,... .,. t..., LJ ,,..I_ .. .J , .:,.·I,. \.!U..,
HOI(, THEREFORE 1 the C1.t~· Councn. of the City of Palo Alto I:C~::s BE3CLVE ::". s i'ollo"'s:
Tll'.tt b~einnlng wtth the fir~t payroll after Jnnuar:: :!., 194~~, t:1e CH~· AudJtor ta here-by .'3.uthor1:~d. nnd d1rect,.,.d to ~c~~·..:.~t
~nrt ~1tW1old from the vagce or snlnry pa1~ to each officer or ~=~l~ycc cf t~c -:tt:r the V1cto'!"y T!t:X ln sucl-t nn '-'~r.lcu..nt l".s 1~
:"t:q\.:i~ed b~· the R\::vr-mue Act of 1942 bt.!.seC!. on· the f.IP.z.r: bl'.!l.C'),::(t ·.,.:tt':-
hold:tr..;,; 1:~ut~o:r:t::-:cd '-4-"ldel~ Section l~66 (c) (1) of t'l1-!lt Act (,r-5;1. of
t~e nmount n~tu~:ly ,~!d ~t eny pAyroll period) on every payroll.
·~he C:it~' A ~1di to!', at thf.' t1me of r:v.;.k:tne u~ tht~ ?"·Y~oll
or lc-.r:~edi.l'\tel~· the~·N: fter, ~hr.ll transfer thH mor..!e:J dedt··~tf~0
thr.:'r(•f::-om nnd~.n· ttl-e provbirms of th!!l r•:osolution to the C1 t~·
'!':·o;."' .. ,~re.::• for !11,;-posi t in e. septtrate a•:: count J where they sr.LF~ll be
d(•_postted MJd design-a ted ns a "Victory T.r.n: Account, held for the
be::.efit cf the Collector o.f Internal Reve~ue." The mon1e~ accumu-
lated f1•om such withhold:tnes d'!..J.rj_ng each quarter of the c<;lende.r
ye~r shall be ~aid by the City Treaeur~r to the United StRtes Collt~-=:tor of Intel"'nttl Revenue f'o!' the Dlstrlct 1n wh:tch th.is ct ty 1~ located on or before the la~t d~y or the month follcvjng the
close of any such quarter.
On o:r• tJefore Jtmuary 31 of cnch year subsequent to 19lt3,
or when the last payment or wageti itcJ m:lldE', 1f employment. is termi-
nated bP.fcre the cloee of the celendal:" year 1 the City Auditor sh:~.lJ.
fUTni sh to c~ch employee vith reapect to h1s emplo~·rnent d·uring tl':e
cnlendar year 1 ll vri tten sttl tement !ho"W1ng the wage~ for th~ per1<:~d
covered and the amount ot the tax \o'lthheld flnd paid 1n respect tc
S'..l.C:'.1 w,ges. l\ copy of this st$.t cment. for every employee s~~:::..l be
included wi~.h tht~ fin.!:ll re.t1lrn for the ca)enda.r year to the
':ollectcr Clf Internal Rcv~.-:nue. The aforesaid officer shall keep
S'.lCh records and InJ;\ke such reports to the Bureeu of Interr..£-.1
Reven~e of wages paid and the tax collected and paid with respect
thereto as that Buree.u may require and pre~cribe.
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Th~ ta:xes to be v1thhelrj and colleote~ under tM.5
re-solution !'!hell not t.tpply to any taxable year commencing
e.fter the date or cessation of' ho1st111 ties in the present "·ar
ant1 the account eetebli!lhed for the receiving of the tax tunde
hereunder ahall be closed vith the last payment to the Federal
Government of the fundt~ 'Withheld. The operation or tl'tb reso-
lut1o:n shall. term1ru:te at that ttm~ or ::~ooner if the vlctory
tll.Y. h1 teJ~m.inated by r~edernl ·'1Ct10!1 Ql:".iOr to that time.
The above fl.nd forezoing resolution was dul:T e.nd
reg~larly pasaed by the Council of the City of Palo Alto at an
adjourned regular me~ting held on Monday, the 28th day of
December, 19~2, by the following vote:
AYES:
NOES:
ABSENT:
Dentrott, ElOi$ I C!:t.ehe-1 .. Cornish I Cypher' r~1tchell,
Morten, Southwood, Tho.tts.
None.
Hoy, Merner, Reed, RichArds, Thomas, Wood.
ATTEST' W&:u~.lif4-.
453
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