- 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.
- 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.
- 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).
- Contributions made by or on behalf of employees to a non-qualified deferred
- Cost of group term life insurance over $50,000.00 (unless part of a cafeteria plan).
- Director's fees.
- Adoption assistance payments (unless part of a cafeteria plan).
- Excess employee discounts.
- Golden parachute payments.
- Income from guaranteed annual wage contracts.
- Income from jury duty.
- Income from wage continuation plans (includes retirement incentive plans and
- Income received as a result of a covenant or agreement not to compete, which
relates to employee wages.
- Interest on below market loans.
- Moving expense reimbursements (follow Federal rules but non-reimbursed
expenses are not deductible).
- Pre-retirement distributions from retirement plans (except previously taxed
income from deferred plans).
- Prizes, awards and gifts - if connected with employment.
- Profit Sharing.
- Royalties (unless derived from registered copyrights, patents or trademarks).
- Severance pay.
- Sick and/or vacation pay.
- Stipends - if work required (vow of poverty not recognized).
- Stock bonus incentive plans.
- Stock options.
- Strike benefits paid by employer.
- Supplemental unemployment pay paid by employer.
- Taxes paid by employer on employee's behalf.
- Union steward fees.
- Executor fees.
- Gambling Winnings (effective 6/1/2012) losses may not offset winnings.
- 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.