Company: PAYX
Filing Date: 2025-04-09
Form Type: 424B2
Source: 0001193125-25-076822
Chunk: 45

Company: PAYCHEX INC
Filing Date: 2025-04-09
Form: 424B2
Chunk 45
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 any tax consequences arising under the laws of any state, local or non-U.S.taxing jurisdiction. Potential Contingent Payment Debt Treatment Our obligation to pay additional amounts on the notes in excess of the accrued interest and principal (for example, in connection with certain change of control transactions, as described above in “Description of the Notes—Change of Control Repurchase Event,” or in connection with termination or certain delays of the S-27

Acquisition, as described above in “Description of Notes—Special Mandatory Redemption”) may implicate the provisions of the Treasury Regulations relating to “contingent payment debt instruments.” Under these Treasury Regulations, one or more contingencies will not cause a debt instrument to be treated as a contingent payment debt instrument if, based on all the facts and circumstances as of the issue date, such contingencies (in the aggregate) are considered remote or incidental or if it is significantly more likely than not that none of such contingencies will occur. We intend to take the position that the notes should not be treated as contingent payment debt instruments and this discussion generally assumes that the regulations relating to ‘‘contingent payment debt instruments’’ are not applicable. However, we can give you no assurance that our position would be sustained if challenged by the Internal Revenue Service (the “IRS”). A successful challenge of this position by the IRS could affect the timing and amount of a Holder’s income and could cause the gain from the sale or other disposition of a note to be treated as ordinary income rather than capital gain. Our position regarding the applicability of the regulations relating to “contingent payment debt instruments” is binding on a holder unless the holder discloses in a proper manner to the IRS that it is taking a different position. Holders are urged to consult their tax advisors regarding the possible application of the contingent payment debt instrument rules to the notes. Tax Consequences to U.S. Holders As used herein, the term “U.S. Holder” means a beneficial owner of a note that is, for U.S. federal income tax purposes:

| • |     | a citizen or individual resident of the United States; |

| • |     | a corporation, or other entity taxable as a corporation for U.S. federal income tax purposes, created or 
 organized in or under the laws of the United States, any state thereof or the District of Columbia; or   |

| • |     | an estate or trust the income of which is subject to U.S. federal income taxation regardless of its source. |

Payments of Interest