Devoted to Corporate Attorneys, Corporate Lawyers, and Corporate Counsel

The following is not meant to be legal advice.

The California notice substitutes a personal income tax rate of 9.3 percent and its interest rate for underpayments plus 1 percent for purposes of computing the interest tax component in lieu of the interest tax imposed under Section 409A. The California program allows the payment of taxes on behalf of non-insiders.  Non-insiders are employees and former employees who are not subject to the disclosure requirements of § 16(a) of the Securities Exchange Act of 1934.

The notification deadline for an employer wishing to participate in the California program is March 15, 2007.