Social Security Offset. (greater than 7.65%) - Ministers are responsible for a social security tax that is calculated at a rate of 15.3% of effective salary. Churches are responsible for paying to the minister at least 50% of that amount- (7.65%). Churches that pay the minister a social security offset in excess of 7.65% should report the excess amount in box 5. (Please note - do not enter any amounts for social security in box 5 that are 50% or less.)
Appears in 3 contracts
Sources: Temporary/Stated Supply Agreement, Temporary/Stated Supply Agreement, Stated Supply Agreement