Wage Ceiling

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Wage Ceiling

The highest possible wage within a wage bracket, which is the range of potential wages offered to a person with a given job description. For example, if a wage bracket is $12 to $15 per hour, the wage ceiling is $15.
References in periodicals archive ?
If an employee was over the payroll tax wage ceilings on the date the vacation and bonus pay was paid, the employer would not have any payroll tax liability.
2007-12 provides no analysis of the satisfaction of the all-events test for the deduction of the payroll taxes on vacation and bonus pay expense, but merely stipulates that "if" the all-events test is satisfied, it is not clear how the IRS will apply the "payment is certain" criteria in Eastman Kodak to current payroll tax wage ceilings.
In light of the significant increases in the payroll tax wage ceilings since 1964 and the fact that Rev.
If (1) the taxpayer uses a calendar tax year, (2) the liability to pay the bonus expense fixes in the tax year of employee service, and (3) the taxpayer pays the bonus expense within 2 1/2 months of tax year end, then the IRS will presumably grant permission for the taxpayer to change to the accelerated method for the deduction of the OASDI portion of the FICA tax on bonus expense for an employee bonus pool (determined individually) that comprises employees whose quarterly compensation (including possible raises in salary) does not approach the wage ceilings.
This is because the FICA tax wage ceilings are applied on a calendar-year basis.
Assuming the taxpayer's employees do not schedule in advance their vacation time on or before the last day of the taxpayer's tax year in which the employees earn the vacation pay, the taxpayer's employee pool, for purposes of changing to the accelerated method for deducting the OASDI portion of the FICA tax on vacation pay expense, will comprise employees whose annual compensation (including possible raises in salary) does not approach wage ceilings.
But Wenger has also warned that salary caps and wage ceilings are a "licence to cheat" and he fears for the long-term future of the game.
Roma have set a wage ceiling of pounds 50million for next season while Lazio followed suit by announcing plans to save pounds 45m by trimming the playing staff by 11.
Even without sufficient public discussion, devaluation with a crawling peg for the forint, tariffs, and state-sector wage ceilings have led to rapid export growth.
But the characteristics of these jobs - wage ceilings, absence of benefits (particularly health care and child care), and little correlation between productivity and wage increases - made it difficult, if not impossible, for women supporting families to get ahead.
To replenish those funds, many States increased their unemployment tax rate and taxable wage ceilings, or made special assessments on employers.