“Qualifying wage” means wages as defined in Section 3121(a) of the Internal Revenue Code, without regard to any wage limitation, but including subsequent adjustments from required additions and deductions. “Qualifying wage” represents employees’ income including non- qualified deferred compensation and stock options from which municipal tax shall be deducted by the employer, and any wages not considered a part of “qualifying wage” shall not be taxed by the Municipality. This definition is effective January 1, 2005, for taxable years 2005 and later.
(Ord. 2005-44. Passed 7-11-05.)