HomeMy WebLinkAboutReso 887-1943 NO. 887
RESOLUTION PROVIDING FOR COLLECTION OF VICTOHY TAX
WHEREAS the Revenue Act of 1942 imposes a levy of five per cent (5%) on the
gross income, defined as the Victory Tax net income, of every individual, which is required
to be collected at the source of employers; and
WHEREAS municipal employees are subject to the tax and municipalities are made
withholding agents and required to withhold suct~ tax and to return and pay over the
ceeds thereof to the Federal Government; and
WHEREAS the tax attaches to all wages paid as income after January l, I945,
regardless of when they are earned; and
WHEREAS deductions, at the option of the employer, may be computed on the amount
actually paid at any payroll Period, or upbn ~he basis of tl~e wage bracket withholding set
forth in the Act, Section 466 (C) (1) fo~ any payroll period;
NOW, THEREFORE, RESOLVED by the City Council of the City ~f South San Francisco
as follows:
That, beginning with the first payroll after January, 1943, the City Clerk is
hereby authorized and directed to deduct and withhold from the wages or salary paid to eacm
officer or employee of said ~ity of South San Francisco t~e Victory Tax in such amount as is
required by the Revenue Act of 1942, of the ?age bracket withholding authorized under Section
466 (C) (1) of that act (or five per cent (5%) of t~e amount acutally paid in any payroll
period) on every payroll;
The City Clerk, at t~e time of making up the payroll or immediately thereafter,
s~all transfer the money deducted therefrom under the provisions of this res~ution to the
City Treasurer for deposit in a separate account in a local bank, where they shall be
deposited and ~si~nated as "Victory Tax Account, held for the benefit of the Collecte~ of
Internal Revenue.u The moneys accumulated from such withholdings during each quarter
of the calendar year shall be paid by the City Treasurer to the United State~ Collector
of Internal Revenue for the district in whica said city is located, on or before the last
day of the month following t~e cloa® of any such quarter;
0n 6r before January 31, of each year subsequent to 194S~ o~ whe~ the last
payment of wages is made, if employement is terminated before the close of the calendar
year, the Clerk shall furnish to each employee with respect ~o his employment during the
calendar year, a written statement showing the wages for the period co~ ered and the amount
of ~he tax withheld and paid in respect to such wages. A copy of this statement
every employee shall be included with the final return for the calendar year to the Collect-
or of Internal Revenue. Said City .Clerk shall keep suc~ records and make such reports to
the Bureau of Internal Revenue of the wages paid and the tax collected and paid, with respect
thereto, as said Bureau may require andl~es~ribe. Said City Clerk shall also issue all such
receipts evidencing sucre withholdings as are required by law.
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I hereby certify that t~e foregoing resolution was regularly introduced and
adopted by the city~ council of the city of South San Francisco this I day of ~ebruary, 194~,
by the following vote:
Ayes, Councilmen
Noes, Councilmen
Absent, Councilmen
Vicbor Boido,
None
None
Geo. W. Holston, Reese Lloyd, M. Minucctani, D. W. Ratto
(Seal)
Attest:
Daniel McSweeney
City Clerk