1703.40 WAGES.

   "Wages" means "qualifying wages" as defined in Ohio R.C. 718.03 including:

   (a)   Wages as defined in Section 3121(a) of the Internal Revenue Code (Medicare Wages), without regard to wage limitations adjusted as follows:

      (1)   Deduct any amount included in wages if the amount constitutes compensation attributable to a plan or program described in Section 125 of the Internal Revenue Code;

      (2)   Add any amount not included in wages solely because the employee was employed by the employer prior to April 1, 1986;

      (3)   Add any amount not included because the amount arises from the sale, exchange, or other disposition of a stock option, the exercise of a stock option, or the sale, exchange or other disposition of stock purchased under a stock option;

      (4)   Add any amount attributable to a nonqualified deferred compensation plan or program described in Section 3121(v)(2)(C) of the Internal Revenue Code at the time of deferral;

      (5)   Add any amount not included in wages if the amount is an employee contribution or employee deferral described in Section 401(K) or Section 457 of the Internal Revenue Code; and

      (6)   Add any amount that is supplemental unemployment compensation benefits described in Section 3402(o)(2) of the Internal Revenue Code.

   (b)   "Qualifying" wages includes income from a disqualifying disposition of an incentive stock option as outlined in Section 1705.01 and 1713.02.

   As used in this Title, the basis for wages applies equally to salaries, wages, commissions, bonuses, incentive payments and other compensation earned and received, earned and accrued or earned and deferred after January 1, 2004.

(Ord. 9046-2003. Passed 12-16-03.)