Statutory Employee

Statutory Employee

In the United States, a person declared an employee by law. Persons declared to be statutory employees include: full-time life insurance agents, drivers who distribute laundry, meat, produce, or beverages (excluding milk) to customers, individuals who work from home on material provided by an employer, or full-time salespersons who seek orders for resale on behalf of an employer. While statutory employees file their expenses on a Schedule C, they are not considered independent contractors and thus do not pay the self-employment tax.

Statutory Employee

A worker who is treated as an employee for social security and Medicare tax purposes and as self-employed for income tax purposes. The "Statutory employee" box on such a worker's Form W-2 should be marked.
References in periodicals archive ?
Probably the most common type of statutory employee at present is the traveling salesperson defined in Sec.
There are eight elements of the statutory employee test, which can be found in IRS Publication 15-A.
In their answer, the defendants asserted, inter alia, that Cooke was either the statutory employee of the hospital or a borrowed servant at the time of the accident, and therefore, the exclusive remedy under the Workers' Compensation Act (Act) served as a complete bar to the Cookes' tort suit.
Last year's Box 15 on the W-2 included boxes to indicate a statutory employee, deceased person, pension plan coverage, legal representative or deferred compensation.
1/ EBITDA for any period is defined as consolidated net income (loss) excluding i) depreciation and amortization, ii) total net comprehensive financing result (which is comprised of net interest expense, exchange gain or loss, monetary position gain or loss and other Financing costs), iii) other expenses net, iv) income tax and statutory employee profit sharing and v) equity in income (loss) of associated companies.
Effective in the first quarter of 2007, OMA adopted Financial Information Norm NIF B3 "Income Statement" which resulted in the reclassification of statutory employee profit sharing under other expenses; and the International Financial Reporting Interpretations Committee IFRIC 12 "Service Concession Arrangements" interpretation of International Financial Reporting Standards, which affected the accounting for airport concessions.
Thus, P is a common-law employee of IBC and is not entitled to classification as a statutory employee under Sec.
The combination of these benefits makes statutory employee status very attractive from the employee's perspective.
A statutory employee is treated as an employee for employment tax purposes, but can deduct business expenses fully, as an independent contractor.
The provision for income taxes and statutory employee profit sharing in the six months ended June 30, 2012 was a benefit of Ps.
The Tax Court held that an adjunct university professor was a common-law employee and not a statutory employee or independent contractor, since he exercised only limited control over his course curriculum and materials and the university considered him its employee.
The provision for income taxes and statutory employee profit sharing in the three months ended March 31, 2012 was a benefit of Ps.