Withholdable Payment [Income tax] Law and Legal Definition

According to 26 USCS § 1473 [Title 26. Internal Revenue Code; Subtitle A. Income Taxes; Chapter 4. Taxes to Enforce Reporting on Certain Foreign Accounts], withholdable payment means--

“(i) any payment of interest (including any original issue discount), dividends, rents, salaries, wages, premiums, annuities, compensations, remunerations, emoluments, and other fixed or determinable annual or periodical gains, profits, and income, if such payment is from sources within the United States, and

(ii) any gross proceeds from the sale or other disposition of any property of a type which can produce interest or dividends from sources within the United States.”