A solvent UI Trust Fund saves claimants from having their benefits cut and employers from rising taxes and increases to their taxable wage base.
What does TWB stand for?
TWB stands for Taxable Wage Base (Social Security)
This definition appears somewhat frequently and is found in the following Acronym Finder categories:
- Military and Government
- Business, finance, etc.
See other definitions of TWB
We have 46 other meanings of TWB in our Acronym Attic
- Total Wanker and Tosser
- Trans Wisconsin Adventure Trail (est. 2008)
- Traveling-Wave Amplifier Tube
- Tuesday, Wednesday and Thursday
- The World According to Garp (book/movie)
- Theatrical Wardrobe Attendants Union
- Thunder Wave (Pokemon)
- The World As We Know It
- Trans World Affairs Exchange (Lebanon)
- Tailor Welded Blank (welded vehicle body components)
Samples in periodicals archive:
The state-by-state overview included in this article indicates that enactments at the state level include provisions on extended benefits, the duration of benefits, tax schedules and taxable wage bases.
Options to improve state UI trust fund financial conditions include raising and indexing the taxable wage base under the Federal Unemployment Tax Act (FUTA), which could induce many states to raise and index their own bases, and reducing the number of both employers paying very low rates and those that pay less in UI taxes than benefits paid to their former workers.
It pointed out that in the case of multiple employers the taxable wage base applies separately to each one.
Arkansas' taxable wage base is the first $9,000 paid to each employee.
Recognizing deferred compensation accruals when an employee has other compensation in excess of the FICA taxable wage base provides a significant tax planning opportunity.
The annual dollar deposit equals a percentage of employees' pay above the Social Security maximum taxable wage base for that year, and a higher percentage above that wage base.
Because nonqualified deferred compensation is typically paid to higher-paid employees, and because the inclusion of these amounts in the employee's wages subject to FICA tax frequently occurs while the employee is actively employed and typically earning wages in excess of the FICA taxable wage base, the rules of section 3121(v) had essentially no effect.