Medicare Tax definition

Medicare Tax means Section 1411 of the Code, as of the date of this Agreement (or any amended or successor version), and any regulations or official interpretations thereof.
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Medicare Tax means the amount subtracted from a payment for the health care insurance program for the aged and disabled under Title XVIII of the Social Security Act, 42 USC 1395 et seq.
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Medicare Tax means the tax imposed on an individual’s proportionate share of the Company’s taxable income allocated to such individual pursuant to Section 1411 of the Code or similar law.
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Examples of Medicare Tax in a sentence

  • Payments are subject to state and local taxes, Federal Income Tax, Social Security Tax, Medicare Tax, and any state disability deductions at the time of payment.

  • All compensation provided to Employee by Employer under this Section 7 shall be subject to applicable withholdings for federal, state or local income or other taxes, Social Security Tax, Medicare Tax, State Unemployment Insurance, State Disability Insurance, charitable contributions and the like.

  • Medicare Tax: The Congregation will make a monthly/quarterly payment-in-lieu of the employer’s FICA payment.

  • All compensation to Employee identified in this Paragraph 8 shall be subject to applicable withholdings for federal, state or local income or other taxes, Social Security Tax, Medicare Tax, State Unemployment Insurance, State Disability Insurance, voluntary charitable contributions and the like.

  • If the employee chooses to be covered by the Medicare Tax the choice cannot be revoked at a later date.

  • The City will take such actions under the provisions of Section 218(g) of the Social Security Act to permit employees who are not currently paying employee portion of the Medicare Tax with a one-time opportunity to choose to be covered by the Medicare Tax.

  • The net investment income tax (the Medicare Tax on Unearned Income) – a tax of 3.8% on certain kinds of investment income – will apply to the Distribution, as it is to be treated as a dividend.

  • Deductions may include: Federal withholding, State withholding, Social Security (FICA), Medicare Tax, Township Pension Plan and Union dues.

  • Staff Fringe Benefits include Social Security Matching, Medicare Tax Expense – Employer, State Retirement, DROP Retirement DP Plan, Sick Payout-USPS, Vacation Payout-USPS, FICA Savings, State Health –Employer, and State Life – Employer, Worker's Compensation - Claims Paid, Unemployment Compensation - Claims Paid and Waivers for Fundable FTEs Exem, Parental Leave and Medical Leave.

  • OPS/Temp Instructors Fringe Benefits include Medicare Tax Expense – Employer, FICA savings, State Health –Employer.


More Definitions of Medicare Tax

Medicare Tax is defined as the employer portion of the Medicare payroll Taxes up to a maximum amount equal to 1.45%.
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