The wages paid by the acquiree entity are added to the wage base that is thereafter maintained by the common paymaster entity. This situation arises when the employees of one subsidiary transfer their employment to another subsidiary. paymaster noun. previous. PAYMASTER 7000-R KEYBOARD STYLE. Since the wage cap on FUTA is so low, essentially every employee that transfers to a different company subsidiary will incur a duplicate tax, even if they are not highly compensated. Those subsidiaries included in the arrangement remain jointly and severally liable for their respective shares of any payroll taxes that are supposed to be remitted by the common paymaster. Synonyms for payment include hire, pay, salary, wage, fee, remuneration, wages, emolument, stipend and compensation.
This concept can also be applied to the employees of an acquiree. The rule allows the designated entity to issue either a single consolidated paycheck to each employee, or to issue several paychecks, with each check drawn on an account controlled by the subsidiaries at which the employees actually work. Human Resources Guidebook Optimal Accounting for Payroll Payroll Management, Accounting BestsellersAccountants' GuidebookAccounting Controls Guidebook Accounting for Casinos & Gaming Accounting for InventoryAccounting for ManagersAccounting Information Systems Accounting Procedures Guidebook Agricultural Accounting Bookkeeping GuidebookBudgetingCFO GuidebookClosing the Books Construction AccountingCost Accounting FundamentalsCost Accounting TextbookCredit & Collection GuidebookFixed Asset AccountingFraud ExaminationGAAP GuidebookGovernmental Accounting Health Care Accounting Hospitality Accounting IFRS GuidebookLean Accounting Guidebook New Controller GuidebookNonprofit Accounting Oil & Gas Accounting Payables ManagementPayroll ManagementPublic Company Accounting Real Estate Accounting, Finance BestsellersBusiness Ratios GuidebookCorporate Cash ManagementCorporate FinanceCost ManagementEnterprise Risk ManagementFinancial AnalysisInterpretation of FinancialsInvestor Relations GuidebookMBA GuidebookMergers & AcquisitionsTreasurer's Guidebook, Operations BestsellersConstraint ManagementHuman Resources GuidebookInventory Management New Manager Guidebook Project ManagementPurchasing Guidebook. More meanings of paymaster, it's definitions, example sentences, related words, idioms and quotations. The good list of example sentences with good.
Regular price Another word for payment.
a female worker who leads a team of workers, usually in a factory, a man of low status who works in a factory, on a farm, or in industry, among the workers in a factory, rather than its managers, someone who does a particular kind of work, especially in a factory, someone who works at a factory preparing and wrapping food so that it can be sold, someone whose job is to give people their salary in the army or a factory, the workers in a factory, not the managers. Synonyms (Other Words) for Payer & Antonyms (Opposite Meaning) for Payer. Featured collection. the shop floor noun. Describing or relating to factories and producing goods, Producers and product names and standards, Words used to describe products made in a factory. When a parent company owns a number of subsidiaries, the company as a whole may pay more payroll taxes than is strictly necessary.
Explore other meanings Explore related meanings +-Areas and objects found in a factory; General words for to produce goods;
The common paymaster rule only applies under the following circumstances: The parties remitting taxes must be related. PAYMASTER 9000-9. Free thesaurus definition of people who work in a factory from the Macmillan English Dictionary - a free English dictionary online with thesaurus and with pronunciation from Macmillan Education. Join Macmillan Dictionary on Twitter and Facebook for daily word facts, quizzes and language news. Log in. Since there is a wage cap on the social security tax, this means that the company as a whole may be matching social security taxes on an employee's wages at one subsidiary, and then doing so again at another subsidiary for an amount that cumulatively exceeds the wage cap. Specific titles within the British government are Paymaster of the Forces, Paymaster-General and Paymaster of Pensions. The rule states that the parent entity is allowed to calculate payroll taxes for these wandering employees as though they had a single employer for the entire calendar year. SHOP ALL PAYMASTER SUPPLIES. To do so, the parent designates one of the entities it controls as the paymaster for all employees.
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