Tax Compliance Information

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At IceRide, we are dedicated to adhering to all local, state, and federal tax regulations. Our Tax Compliance Policy ensures that we, as a company, as well as our drivers, partners, and vendors, operate in accordance with all tax obligations. This policy outlines the responsibilities of IceRide and its users concerning tax reporting, collection, and remittance.

1. Compliance with Local, State, and Federal Tax Laws:IceRide is committed to complying with all applicable tax laws, regulations, and guidance issued by tax authorities. This includes, but is not limited to:

• Income Tax: IceRide complies with income tax obligations for corporate earnings and ensures that all income and revenues are reported accurately.
• Sales Tax and VAT: We adhere to state and local tax regulations regarding sales tax or value-added tax (VAT) on applicable transactions.
• Use Tax: Where applicable, IceRide ensures the collection and remittance of use taxes for goods and services provided within states or regions where use tax applies.

2. Driver and Contractor Tax Obligations:As independent contractors, drivers who partner with IceRide are responsible for understanding and managing their own tax obligations, including:

• Self-Employment Tax: Drivers are responsible for paying self-employment taxes, including income and Social Security/Medicare taxes, based on earnings from IceRide.
• Tax Reporting (1099 Forms): IceRide will issue IRS Form 1099-NEC or 1099-K for drivers who meet the earnings threshold, as per IRS requirements. Drivers should use these forms to accurately report their earnings to tax authorities.
• Tax Deductions: Drivers may be eligible for deductions on work-related expenses such as vehicle depreciation, mileage, fuel, and maintenance. We encourage our drivers to consult with a tax professional to optimize their tax reporting and deductions.

3. Collection and Remittance of Taxes:IceRide collects applicable taxes, including sales tax and other transaction-based taxes, as required by law. These taxes are calculated based on the location of the transaction and may vary according to the local tax rate. This includes:

• Booking Fees: In certain jurisdictions, IceRide may collect tax on booking fees, service fees, or other applicable charges.
• Passenger Taxes: For specific regions (e.g., airport pickups, surcharges), we may collect and remit taxes or fees levied on the transportation services provided.

4. International Tax Compliance:IceRide operates in compliance with international tax laws, including VAT and other international sales tax obligations in countries where we provide services. This includes ensuring that we have the appropriate tax registrations and processes in place for the collection and remittance of applicable taxes in each jurisdiction.

5. Issuance of Tax Documentation:To ensure transparency and compliance, IceRide provides the necessary tax documentation to both our partners and relevant tax authorities:

• IRS Form 1099 Issuance: For U.S.-based drivers, IceRide will provide the IRS Form 1099-NEC or 1099-K for income earned through the platform, following the IRS thresholds for issuance.
• VAT Receipts: For international users, IceRide will issue VAT-compliant receipts where necessary, ensuring accurate tax calculations and transparency.

6. Tax Advisory:While IceRide is committed to fulfilling its tax obligations, we strongly recommend that drivers, contractors, and partners seek professional tax advice to ensure they comply with their tax responsibilities. Tax laws can be complex and vary by jurisdiction, and a tax professional can provide the most accurate and personalized advice.

7. Changes to Tax Policy:Tax laws and regulations frequently change, and IceRide reserves the right to update our tax compliance practices as needed to stay in alignment with these changes. We are committed to ensuring that all users are notified of any significant updates that may impact their obligations.

8. Transparency and Accountability:IceRide believes in maintaining a transparent relationship with users and authorities regarding our tax obligations. Any taxes collected and remitted on behalf of passengers, drivers, or vendors are clearly stated in transaction summaries and receipts.

Contact Us:If you have questions regarding our Tax Compliance Policy or require assistance with tax-related documents, please contact us at:

IceRide
5000 CentreGreen Way, Suite 500
Cary, North Carolina 27513
Email: taxcompliance@iceinnovations.ai