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In California, for example, it is a misdemeanor for the management of a business entity to willfully fail to remit trust-fund taxes such as any withholding from an employee's wages made pursuant to a state or local law, and if the amount of tax due exceeds $500 the class of crime becomes a felony (see California Labor Code Section 227).
In 1994, an affiliate company, The Whittier Trust Company of Nevada, Inc. was formed in Reno, Nevada to take advantage of the state's favorable tax and trust laws. As of 2023, Whittier Trust managed assets of more than $20 bn. for more than 140 foundations, donor advised funds, endowments, and 161 charitable entities, and 578 ultra high-net ...
This funding was leveraged nearly four times by $950 million in external private and public funding. Vermont's Trust Fund is administered by the Vermont Housing and Conservation Board (VHCB). By law, the Trust Fund is to receive half of the receipts from real estate transfer taxes. The FY2000 budget was the last to reach its statutory funding ...
The trust funds are still in trouble, but there's improvement. One of Social Security's most pressing problems is the depletion of its trust funds: the Old-Age and Survivors Insurance (OASI) fund ...
The Teachers' Retirement Fund is a special trust fund established by law that holds the assets of the following programs: Defined Benefit; Defined Benefit Supplement; Cash Balance Benefit; The assets come from contributions by members, employing school districts, investment earnings and appropriations from the State of California's General Fund ...
a staff benevolent fund, which provides sick pay or meets medical expenses; an educational trust, which provides funding for the education of employees' children; an employee share trust, which holds shares in order to facilitate employee share ownership in a company. Shares may be warehoused in an employee trust until allocated to participants ...
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