Section 20-101-600-601.02 - Items IncludedThe total wages paid by an employer to his or her employees with respect to employment during any calendar year, or any pay period thereof, shall include items actually or constructively paid during that calendar year, or any part thereof.
(A) Items actually paid shall include:(2) The fair market value, at the time of payment, of all items other than money. Wages are constructively paid when they are credited to the account of or set apart for an employee so that they may be drawn upon by him or her at any time although not then actually reduced to possession.(B) Items actually or constructively paid shall include: (2) The fair value, at the time of actual or constructive payment, or all items other than money.(3) Vacation allowances - Payment to an employees so-called vacation allowances constitute wages.(4) Traveling and other expenses - Amounts paid to traveling salespersons or other employees as allowances or reimbursements for traveling or other expenses incurred in the business of the employer constitute wages only to the extent of the excess of such amounts over such expenses actually incurred and accounted for by the employee.(5) Premium on life insurance - Generally, premiums paid by an employer on a policy of life insurance covering the life of an employee constitute wages if the employer is not a beneficiary under the policy. However, premiums paid by an employer on policies of group life insurance covering the lives of his or her employees are not wages, if the employee has no option to take the amount of premiums instead of accepting the insurance and has no equity in the policy (such as the right of assignment or the right to surrender value on termination of his employment).(6) Deductions - Amounts deducted from the remuneration of an employee by an employer constitute wages paid to the employee at the time of such deduction. It is immaterial that the Law, or any Act of Congress or the law of any state, requires or permits such deduction and the payment of the amount thereof to the United States, a state, or any political subdivision thereof.(7) Payments by employers into stock bonus or profit-sharing funds -Payments made by an employer into a stock bonus or profit-sharing fund constitute wages if such payments inure to the exclusive benefit of the employee and may be withdrawn by the employee at any time or upon resignation or dismissal, or if the contract of employment requires such payment as part of the compensation. Whether or not under other circumstances such payments constitute wages depends upon the particular facts of each case.(8) Hiring of individual with his or her equipment - Only remuneration employment is the basis of contributions. Equipment is only rented and its rental value should not be included in the basis for contributions, provided it is accounted for separately. Contributions should be based on the remuneration for services only. In the case of hiring an individual and his or her equipment, such as a truck driver who owns his or her truck, the employer may differentiate between the fair value of the wages and the rental value of the equipment and pay contributions only on the wages.(9) Pensioned employees-Retirement Pay - Contributions are based only on wages of employees arising out of the performance of service. Employees who have been pensioned or retired by an employer and who perform no service for such former employer are pensioned or retired employees and the remuneration or compensations received by them as pension or retirement pay is not considered wages and should not be included in the payroll upon which contributions are based. However, if a pensioned or retired employee receives any compensation or remuneration distinct from such pensions or retirement pay for any employment, whether occasional, temporary or permanent, such pensioned or retired employee is covered by the Law and his or her earnings must be included in the payroll upon which contributions are based. (C) For all political subdivisions that elect to make contributions under the provisions of either Section 71-5-559(2)(j), or Section 71-5-357(b)(iv), the Law provides that the rates specified in those sections, i.e., two percent (2%) and five tenths percent (.5%) respectively, shall be applied to the first seven thousand dollars ($7,000) of remuneration paid to each employee in the calendar year, from and after January 1, 1983.20 Miss. Code. R. § 101-600-601.02