Common use of TAXABILITY OF BENEFITS Clause in Contracts

TAXABILITY OF BENEFITS. As a matter of law, the employer cost of providing benefits of the type described above is considered ordinary income and is, therefore, subject to taxes, including FICA, FICA Medicare, federal, state and city taxes. Ineligibility: The following individuals do not fall within the eligibility criteria for this program: The Spouse, children, grandchildren, parents, grandparents, siblings, nieces, nephews, aunts, uncles, cousins, landlords, renters, boarders and tenants of employees.