Taxable Items

Gross wages, salaries and other compensation Royalties, if not derived from intangible property
Commissions, fees and other earned income Stock options (taxed when exercised, valued at market price less option price on the date the option is exercised)
Sick pay (including third party sick pay) Employer paid premiums for group term life insurance usage (taxed at fair market value) or excess employee discounts
Vacation pay Prizes and gifts if connected with employment
Bonuses, stipends and tips (including allocated tips) Income from guaranteed annual wage contracts
Employer supplemental unemployment benefits (SUB pay) Income from jury duty
Director fees Executor fees
Strike pay Union steward fees
Employee contributions to retirement plans and tax deferred annuity plans (including SEC. 401(k), 403(b), 457, etc.) Net profits of rentals, businesses, professions, sole proprietorships, joint ventures, partnerships, corporations, LLC’s, etc.
Profit sharing Ordinary gains as reported on Federal Form 4797
Income from wage continuation plans (including retirement incentive plans, severance pay and golden parachute payments) 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
Pre-retirement distributions from retirement plans Recapture of depreciation
Income from partnerships, estates or trusts Employee contributions to costs of fringe benefits
Contributions made on behalf of employees to tax deferred annuity programs Fringe benefits including uniform, automobile, moving and travel allowances
Employer provided educational assistance and/or reimbursement (taxable to the same extent as for federal taxation) Disability pay when premiums have been paid by the employer (includes third party plans)
Reimbursements in excess of deductible expense Income received as a result of a covenant not to compete
Net rental income Excess housing allowance for clergy
Farm net income Gambling and lottery winnings after 1/1/09

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