What is the taxable withholding wage base? | City of Findlay, Ohio

What is the taxable withholding wage base?

Beginning January 2004, each employer is required to withhold on qualifying wages as defined in Chapter 718.03 of the Ohio Revised Code. Generally, qualifying wages refers to (IRC) Internal Revenue Code section 3121(a) Medicare wages, without being reduced by any wage limitations. Employees not subject to Medicare tax because they were hired before April 1986 are subject to municipal tax on the amount that otherwise would be reported as Medicare wages. Amounts related to stock options reported on W-2s are taxable. Contributions to IRC 401(k), 403(b), 457, and similar deferred compensation plans are taxable. Supplemental unemployment compensation benefits described in IRC 3402(o)(2) are taxable. As of January 2004, IRC 125 cafeteria plan contributions are not taxable by any Ohio municipality. Individuals are subject to the tax when they reach age 16

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