Common Contracts
1 similar Graduate Assistant Authorization Form contracts
ContractGraduate Assistant Authorization Form • July 1st, 2020
NOTIFICATION OF TUITION BENEFITS TAX LIABILITY(Student signature required) Please be aware that some tuition benefits are considered taxable income. You are responsible for determining and initiating any personal income tax withholding adjustments necessary to accommodate for this taxable benefit.Graduate Assistant scholarships, as a tuition benefit, are exempted from taxation up to $5,250 each calendar year (January – December); cumulative tuition benefits exceeding the $5,250 threshold in the calendar year are considered a taxable benefit to the student employee. The total dollar value applied to the benefit is equal to the prevailing cost per credit hour at the time the class is attended, multiplied by the number of credit hours taken.Calculation and Payment of TaxesThe taxable benefit will be calculated during each semester and is based on the number of taxable credit hours taken. The tot al benefit for the semester will be added to the student employee’s compensation for the payro
