Qualifying wages definition

Qualifying wages means wages, as defined in section 3121(a) of the Internal Revenue Code, without regard to any wage limitations, adjusted as follows:

Qualifying wages means wages, as defined in section 3121(a) of the Internal Revenue Code, without regard to any wage limitations, adjusted in accordance with section 718.03(A) of the Ohio Revised Code.

Qualifying wages means wages, as defined in section

Examples of Qualifying wages in a sentence

• Qualifying wages are those paid to an employee who takes leave under the Act for a qualifying reason, up to the appropriate per diem and aggregate payment caps.

• Qualifying wages does not include compensation deferred before January 1, 2004, to the extent that such deferred compensation would not be treated as wages within the meaning of Section 3121(a) of the Internal Revenue Code at the time such deferred compensation is paid or distributed.

• Qualifying wages includes compensation attributable to a nonqualified deferred compensation plan or program described in Section 3121(v)(2)(C) of the Internal Revenue Code and compensation from employment arising from the sale, exchange or other disposition of a stock option, the exercise of a stock option, or the sale, exchange or other disposition of stock purchased under a stock option.

• In effect, if compensation is received by an employee, it is taxable only if it is included in "qualifying wages" because any employee compensation not included in qualifying wages is tax-exempt under both the bill and current law.Qualifying wages Qualifying wages closely approximates the Medicare ("FICA") tax withholding base (i.e., IRS Form W-2, Box 5) with several adjustments.

• Current situation: Qualifying wages as defined in ORC 718 allows for the elimination of Section 125 cafeteria plans from inclusion in qualifying wages.

More Definitions of Qualifying wages

Qualifying wages means wages, as defined in section 3121(a) of the Internal Revenue Code, including, but not limited to, severance pay, sick pay, vacation pay and supplemental unemployment benefits paid by an employer or employers, commissions, compensation of personal services, other income defined by statute as taxable, and/or the net profits from operation of a business, profession, or other enterprise or activity adjusted in accordance with the provisions of this chapter, without regard to any wage limitations, and, adjusted as follows:

Qualifying wages means wages, as defined in Section 3121(a) of the Internal Revenue Code, without regard to any wage limitations, adjusted in accordance with Section 718.03(A) of the Ohio Revised Code, including any amendments or successor provisions thereto, to:

Qualifying wages means wages, as defined in section 3121(a) of the Internal Revenue Code, wi thout regard to any wage limitations, adjusted as follows:

Qualifying wages means wages, as defined in Section 3121(a) of the Internal Revenue Code, without regard to any wage limitations, adjusted as provided in division (A)(2) of Section 718.03 of the Revised Code. "Qualifying wages" includes compensation attributable to a nonqualified deferred compensation plan or program as defined in Section 3121(v)(2)(C) of the Internal Revenue Code and compensation arising from the sale, exchange or other disposition of a stock option, the exercise of a stock option, or the sale, exchange or other disposition of stock purchased by the stock option. "Qualifying wages" does not include compensation deferred before January 1, 2008, to the extent that the deferred compensation does not constitute "qualifying wages" when paid or distributed.

Qualifying wages means any wages paid by an employer in which a credit may be claimed under this section.

Qualifying wages means the wages earned by a qualifying employee beginning on the hire date and ending on the second anniversary date of the qualifying employee; and

Qualifying wages means wages as defined in Internal Revenue Code Section 3121(a), without regard to any wage limitation. Generally, qualifying wages are reported in the Medicare Wage box of Federal Form W-2. In addition, income from Supplemental Unemployment payments (SUB-Pay) and exercise of stock options must be added to the income reported in the Medicare Wage box. This total should then be reported in the Municipal Wage box and the appropriate tax withheld. All income deferred into any qualified or non-qualified plan is subject to withholding in the year of deferral. IRC Section 125 wages (“cafeteria plans”) are not included in the definition of Medicare wages and should not be deducted from the Medicare Wage box. Medicare Exempt Employees are subject to the requirements for “qualifying wages” in the Medicare Wage box even though that box will remain blank.