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175.03151 QUALIFYING WAGE. <br />"Qualifying waqe" means wages as defined in Section 3121 (a) of the Internal <br />Revenue Code, without reqard to any waqe limitation, but includina subsequent <br />adjustments from required additions and deductions. "Qualifying waqe" <br />represents employees' income including non-qualified deferred compensation <br />and stock options from which municipal tax shall be deducted by the employer, <br />and any waqes not considered a part of "qualifying wage" shall not be taxed by <br />the Municipality. This definition is effective January 1 2004, for taxable years <br />2004 and later. <br />., <br />X:1Mayfield\MFV Legis\2005 Legis1175.03151.doc