(1) When a taxpayers association under Article 150 (2) collects income tax pursuant to paragraph (1) of the same Article, it shall calculate the monthly income tax which is calculated by multiplying 12 by the amount of monthly income of its each member computed, as prescribed by Presidential Decree, taking global income deduction from the amount calculated, and applying the applicable basic tax rate to the remaining amount, and shall collect the due income tax by taking a tax credit and taxpayers association credit. In such cases, if there is a fraction less than one month, it shall be deemed one month.
(2) When a taxpayers association under Article 150 (3) collects income tax pursuant to paragraph (1) of the same Article, it shall collect tax on monthly income of its members in the same manner as withholding tax is withheld from wage and salary income pursuant to Article 127, while collecting the amount computed by taking taxpayers association credit from the income tax calculated based on the simplified tax withholding table for wage and salary income under Article 134.[This Article Wholly Amended by Act No. 9897, Dec. 31, 2009]