Common use of Report of Deferred Salary Clause in Contracts

Report of Deferred Salary. The Board shall compute and remit its employer contributions to STRS based upon the total annual salary, including the “pickup.” The Board shall report for federal and Ohio income tax purposes as an employee’s gross income said employee’s total annual salary less the amount of the “pickup.” The Board shall report for municipal income tax purposes as an employee’s gross income said employee’s total salary, including the amount of the “pickup.” The Board shall compute income tax withholding based upon gross income as reported to the respective tax authorities.