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175.03151 QUALIFYING WAGE. <br />"Qualifvinq waqe" means waqes as defined in Section 3121(a) of the Internal <br />Revenue Code, without regard to any wage limitation, but includinq subsequent <br />adiustments.from required additions and deductions "Qualifying wage" <br />repr.esents emplovees' income includina non-qualified deferred compensation <br />and stock options from which municipal tax shall be deducted bv the employer, <br />and any wages not considered a part of "qualifyinq wage" shall not be taxed by <br />the Municipality. This def.inition is effective January 1 2004 for taxable years <br />2004 and late.r. <br />,?. <br />X:\Mayfield\MFV Legis12005 Legis\175.03151.doc