Taxable Items

  • Amounts realized on a sale or exchange of tangible property or real property in excess of book value to the extent of depreciation allowed or allowable
  • Bonuses, stipends and tips (including allocated tips)
  • Commissions, fees and other earned income
  • Contributions made on behalf of employees to tax deferred annuity programs
  • Director fees
  • Disability pay when premiums have been paid by the employer (includes third party plans)
  • Employee contributions to costs of fringe benefits
  • Employee contributions to retirement plans and tax deferred annuity plans (including SEC. 401(k), 403(b), 457, etc.)
  • Employer paid premiums for group term life insurance usage (taxed at fair market value) or excess employee discounts
  • Employer provided educational assistance and/or reimbursement (taxable to the same extent as for federal taxation)
  • Employer supplemental unemployment benefits (SUB pay)
  • Excess housing allowance for clergy
  • Executor fees
  • Farm net income
  • Fringe benefits including uniform, automobile, moving and travel allowances
  • Gambling and lottery winnings after January 1, 2009
  • Gross wages, salaries and other compensation
  • Income from guaranteed annual wage contracts
  • Income from jury duty
  • Income from partnerships, estates or trusts
  • Income from wage continuation plans (including retirement incentive plans, severance pay and golden parachute payments)
  • Income received as a result of a covenant not to compete
  • Net profits of rentals, businesses, professions, sole proprietorships, joint ventures, partnerships, corporations, LLCs, etc.
  • Net rental income
  • Ordinary gains as reported on Federal Form 4797
  • Pre-retirement distributions from retirement plans
  • Prizes and gifts if connected with employment
  • Profit sharing
  • Recapture of depreciation
  • Reimbursements in excess of deductible expense
  • Royalties, if not derived from intangible property
  • Stock options (taxed when exercised, valued at market price less option price on the date the option is exercised)
  • Strike pay
  • Union steward fees
  • Vacation pay