What is Taxable

  1. Bonuses.
  2. Compensation paid in property or the use thereof at fair market value to
    the same extent as taxable for federal tax purposes and so indicated on the W-2 form.
  3. Contributions made by or on behalf of employees to a qualified deferral plan (401K
    and the like) - taxed at year earned, deferral not permitted. Exception: employer
    matching contributions offered under a cafeteria plan are not taxable. Deferrals even
    under a cafeteria plan are always taxable.
  4. Contributions made by or on behalf of employees to a tax-deferred annuity or stock
    purchase plan (includes any plan where employee has the option to defer).
  5. Contributions made by or on behalf of employees to a non-qualified deferred
    compensation plan.
  6. Cost of group term life insurance over $50,000.00 (unless part of a cafeteria plan).
  7. Director's fees.
  8. Adoption assistance payments (unless part of a cafeteria plan).
  9. Excess employee discounts.
  10. Golden parachute payments.
  11. Income from guaranteed annual wage contracts.
  12. Income from jury duty.
  13. Income from wage continuation plans (includes retirement incentive plans and
  14. Income received as a result of a covenant or agreement not to compete, which
    relates to employee wages.
  15. Interest on below market loans.
  16. Moving expense reimbursements (follow Federal rules but non-reimbursed
    expenses are not deductible).
  17. Pre-retirement distributions from retirement plans (except previously taxed
    income from deferred plans).
  18. Prizes, awards and gifts - if connected with employment.
  19. Profit Sharing.
  20. Royalties (unless derived from registered copyrights, patents or trademarks).
  21. Severance pay.
  22. Sick and/or vacation pay.
  23. Stipends - if work required (vow of poverty not recognized).
  24. Stock bonus incentive plans.
  25. Stock options.
  26. Strike benefits paid by employer.
  27. Supplemental unemployment pay paid by employer.
  28. Taxes paid by employer on employee's behalf.
  29. Tips.
  30. Union steward fees.
  31. Executor fees.
  32. Gambling Winnings (effective 6/1/2012) losses may not offset winnings.
  33. Prizes and winnings from sweepstakes (effective 6/1/2012).

NOTE: This list is intended for reference purposes only. It may not be all inclusive
and is subject to revision without notice.