FINANCIAL IX. PRIZE MONEY A. DISTRIBUTION 1.  Equal Opportunity 2.  Timing and Process Payment of the same prize money must be available to all competitors  without discrimination. The WTA must receive a completed prize money spreadsheet,  electronically, no later than 9:00 a.m. Eastern Time (New York, USA  Time) on the Monday following the conclusion of the Tournament. Tournaments are required to wire net prize money to the bank trust  account designated by the WTA to ensure receipt by the Wednesday  (Thursday for tournaments with Main Draws of 96 or greater)  following their respective Tournaments, and to provide a prize  money breakdown from the Tournament to the WTA. a.  Tournament Obligations i.  Prize Money Spreadsheet ii.  Wire Transfer of Payment iii. Taxes Prize money payments not made by the due dates specified herein  are subject to a late charge due to the WTA of 2% per month, pro- rated for partial months. Tournaments that pay five (5) or more  business days late will be required to pre-pay the following year’s  prize money (minus estimated taxes to be withheld) at least twenty- one (21) days prior to the start of the Tournament. The Tournament shall be responsible for withholding and payment  of any taxes consistent with all laws concerning withholding taxes. Each Tournament is required to give at least ninety (90) days’  notice to the WTA of the percentage of the applicable player  income tax deduction. No other tax deduction(s) by the  Tournaments will be permitted from the prize money paid to  a player. (a) Income Tax on Players 167