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 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.
Upon dissolution of the Company, the Board (in such capacity, the “Liquidating Trustee”) shall carry out the winding up of the Company and shall immediately commence to wind up the Company’s affairs; provided, however, that a reasonable time shall be allowed for the orderly liquidation of the assets of the Company and the satisfaction of liabilities to creditors so as to enable the Members to minimize the normal losses attendant upon a liquidation.
Current situation: Qualifying wages as defined in ORC 718 allows for the elimination of Section 125 cafeteria plans from inclusion in qualifying wages.
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.