: I need help understanding what 'net of required taxes' means In this contract what does net of mean? is it the amount after or before taxes? Award – Cash awarded to a Participant under the Program, net of all required

Vote Up Vote Down   0 Reactions

Login to give Reaction!

I need help understanding what 'net of required taxes' means
In this contract what does net of mean? is it the amount after or before taxes?

Award – Cash awarded to a Participant under the Program, net of all required federal and state withholding taxes, due to Corporate or Business Unit performance and results.

Also seen in the salary section: "Salary of ,500 payed semimonthly net of all required withholding and remissions"

The reason I am asking is because I have never seen the net pay instead of gross pay on a contract for a new job. Will I get that amount on my bank or will taxes be deducted to this amount?

(1)

Login to post a comment!