This situation arises when the employees of one subsidiary transfer their employment to another subsidiary. If the entity does not issue shares, then at least half of the board of directors of one entity must be on the board of the other entity. next. Find more ways to say payment, along with related words, antonyms and example phrases at Thesaurus.com, the world's most trusted free thesaurus. terms privacy & cookie policy. Every time this happens, the official wage base for an employee starts from zero at the new employing entity. This means that the payroll function should be consolidated across the combined entities for payment purposes. 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. When a parent company owns a number of subsidiaries, the company as a whole may pay more payroll taxes than is strictly necessary. Something given as a reward or in recompense for something done, “A suit with a velvet collar that I got as, The action or process of paying someone or something or of being paid, “It addresses the growing consumer desire to use electronic, “However, daily interest would have continued to be added to it until your, Something that is given as charity, especially a sum of money, A payment made by the state or an insurance scheme, Payments made by the state or an insurance scheme, A small document, included with an employee's wage or salary, giving details of money earned and tax and insurance paid, The official currency, in the form of banknotes or coins, issued by a government, A servant, especially one who has worked for a person or family for a long time, The action of deducting or subtracting something, An order to a bank to pay money to a named person or entity, level of economic security guaranteed by government. PAYMASTER 7000-R KEYBOARD STYLE. about apps & extensions feedback examples. PAYMASTER 9000-9. When a parent company owns a number of subsidiaries, the company as a whole may pay more payroll taxes than is strictly necessary. 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. Synonyms for payment include hire, pay, salary, wage, fee, remuneration, wages, emolument, stipend and compensation. 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SHOP ALL PAYMASTER SUPPLIES. This is not an issue if the total annual compensation of an employee is less than the annual social security wage cap. More meanings of paymaster, it's definitions, example sentences, related words, idioms and quotations. Find more similar words at wordhippo.com! the workers in a factory, not the managers. This means that either one entity owns at least half of the stock of the other entities, or at least thirty percent of the employees of one entity are concurrently employed by the other entity, or at least half of the officers of one entity are also officers of the other entity. Specific titles within the British government are Paymaster of the Forces, Paymaster-General and Paymaster of Pensions. Describing or relating to factories and producing goods, Producers and product names and standards, Words used to describe products made in a factory. However, this is not the case for employers; once they remit their matching share of payroll taxes, those taxes are gone for good. The same problem also arises for federal unemployment (FUTA) taxes. previous. The Need for a Common Paymaster. A paymaster is someone appointed by a group of buyers, sellers, investors or lenders to receive, hold, and dispense funds, commissions, fees, salaries (renumeration) or other trade, loan, or sales proceeds within the private sector or public sector. Featured collection. Two other points related to the common paymaster concept are: The designated common paymaster is responsible for remitting all payroll taxes. Explore other meanings Explore related meanings +-Areas and objects found in a factory; General words for to produce goods; This situation arises when the employees of one subsidiary transfer their employment to another subsidiary. Paymaster meanings in Urdu are بخشی, آقا, خزانچی Paymaster in Urdu. 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. The good list of example sentences with good. 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. To do so, the parent designates one of the entities it controls as the paymaster for all employees. Every time this happens, the official wage base for an employee starts from zero at the new employing entity.

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