Difference between revisions of "12 taxable wages"
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* [[12_taxable_wage_indicator|Taxable Wage Indicator]] | * [[12_taxable_wage_indicator|Taxable Wage Indicator]] | ||
* [[12_appendix_imt_development|Appendix F - IMT Development Table of Contents]] | * [[12_appendix_imt_development|Appendix F - IMT Development Table of Contents]] | ||
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Latest revision as of 16:45, 11 July 2019
Taxable Wages (IMTQ-TAX-WAGE(1))
This is the taxable wages field for the current quarter, an 11-digit field at positions 772 - 782. It identifies the taxable portion of the total wage amount just mentioned. Accurate assessment of the taxable wages is depended upon wage record detail, since wages are taxable for each employee in a company utilizing experience rating to determine their U-I contribution. Once an employee reaches the State’s taxable wage base value (which could be $12,000 for example), all other wages paid to the employee during the calendar year are no longer taxable under the unemployment-insurance system.
Taxable wages are also listed in whole-dollar units (rounded to the nearest dollar). For worksite sub-units, this value is generally unavailable, since the Multiple Worksite Report (MWR) form contains only employment and total wage fields. For these sub-units, both this field and the taxable wage indicator (IMTQ-TAXW-IND(1)) field (described next) should be set to low-values. Their values will be determined through proration from the master account.
Except for rounding and worksite low-values usage, this field is set in the same manner as in the first month's employment (IMTQ-M1-EMPL(1)), described earlier.
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