Taxable Income | City of Sidney Ohio
City of Sidney Ohio

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Taxable Income

City Hall Main Entrance First Floor
201 W Poplar Street
Sidney, OH 45365
Phone (937) 498-8111

Tax Administrator: Jeffery Wical
Phone: (937)498-8111
Fax: (937)498-8149
Email:
jwical@sidneyoh.com

  • Wages, salaries and other compensation
  • Bonuses, stipends, and tip income
  • Commissions, fees and other earned income
  • Sick pay (excluding third party sick pay)
  • Employer supplemental unemployment benefits (SUB pay)
  • Strike pay
  • Vacation pay
  • Employee contributions to retirement plans & tax deferred annuity plans (including Sec. 401k, 403b, 457b, etc.)
  • Contributions made on behalf of employees to tax deferred annuity programs
  • Reimbursements in excess of deductible expenses
  • Employee contributions to costs of fringe benefits
  • Employer provided educational assistance, and/or reimbursement (taxable to the same extent as for federal taxation)
  • Royalties, if not derived from intangible property
  • All income received from State lottery programs reported on IRS form W-2G or any other Form required by the IRS that reports lottery winnings.

 

  • Employer paid premiums for group term life insurance (taxed to the same extent as for federal taxation)
  • Compensation paid in goods or services or property usage (taxed at fair market value) Excess employee discounts
  • Income from wage continuation plans (including retirement incentive plans, severance pay and golden parachute payments)
  • Income from guaranteed annual wage contracts
  • Prizes and gifts if connected with employment
  • Director fees
  • Income from jury duty
  • Executor fees
  • Union steward fees
  • Income from partnerships, estates or trusts
  • Net profits of businesses, professions, sole proprietorships, etc.
  • Net rental income
  • Farm net income and Farm Rental Income from form 4835
  • Ordinary gains as reported on Federal Form 4797
  • Income received as a result of a covenant not to compete
  • Stock options (taxed when exercised, valued at market price less option price on the date the option is exercised)
  • Cash for Keys
  • ATAA (form of unemployment) & RTAA
  • Discrimination Lawsuit Settlements (on 1040)
  • Almost all lawsuit settlements on form 1040 (see non taxable)
  • HSA and MSA taxable on Federal 1040
  • Scholarship Income listed on 1040 (usually reported on line 7 as wage income)
  • Beginning in 2016 all gambling winnings will be taxable

 

 

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