“Taxable income” means qualifying wages, salaries and other compensation paid by an employer before any deduction. “Other compensation” includes, but is not limited to, bonuses; commissions; incentive payments; director's fees; property in lieu of cash; tips; dismissal or severance pay; supplemental income benefits for early retirement regardless of their label; contest prizes and awards; compensation attributable to qualified and non- qualified deferred compensation plans or programs described in Section 3121(v)(2)(c) of the Internal Revenue Code; tax shelter plans; vacation and sick pay regardless of label, such as sick leave, disability, vacation pay, etc.; wage continuation plans; supplemental unemployment benefits; depreciation recapture; gifts and gratuities in connection with employment; fellowships, grants and stipends; group term life insurance protection over fifty thousand dollars ($50,000) (taxed on the entire cost); benefits resulting from an employer's assumption of a tax; stock options, including compensation arising 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 given as compensation; income from gaming, wagering and lotteries, including the Ohio State Lottery; net profits from the operation of a business, profession or other enterprise or activity adjusted in accordance with the provisions of this chapter; and all other compensation earned, received or accrued.
(Ord. 1983-48. Passed 11-28-83; Ord. 2004-36. Passed 12-13-04.)