Annual payroll

{
  "id": "MLC-T-ECS-000081",
  "term": "Annual payroll",
  "field": "Economic statistics",
  "term_source": "Annual Payroll",
  "definitions": [
    "Payroll includes all forms of compensation, such as salaries, wages, commissions, dismissal pay, bonuses, vacation allowances, sick-leave pay, and employee contributions, to qualified pension plans paid during the year to all employees. For corporations, payroll includes amounts paid to officers and executives; for unincorporated businesses, it does not include profit or other compensation of proprietors or partners. Payroll is reported before deductions for social security, income tax, insurance, union dues, etc. This definition of payroll is the same as that used by the Internal Revenue Service (IRS) on Form 941.",
    "($1,000) This definition of payroll is the same as that used by the Internal Revenue Service (IRS) on Forms 941 or 944 as taxable Medicare Wages and Tips (even if not subject to income or FICA tax). If an employee works at more than one location, the payroll is included in the one location where they spend most of their time.\n\nPayroll includes all forms of compensation paid during the reporting year to all employees, such as salaries, wages, tips and gratuities, commissions, bonuses, vacation allowances, sick leave pay, dismissal pay, the spread on stock options that is taxable to employees as income (except for the manufacturing and mining industries who include this in fringe benefits), and employee contributions to qualified pension plans. For corporations, payroll includes amounts paid to officers and executives.\n\nExcluded from payroll are employer???s costs for fringe benefits such as payroll taxes, employer-paid insurance premiums, pension plans, and other employer-paid benefits. For unincorporated businesses, payroll does not include profit or other compensation of proprietors or partners. It does not include payrolls of leased departments nor annuities or supplemental unemployment compensation benefits, even if income tax was withheld. Payroll is reported before deductions for social security, income tax, insurance, union dues, etc.\n\nNote: For employment and related fields (payroll, production hours, benefits), respondents were asked to report only those full- and part-time employees whose payroll was reported on the IRS Forms 941 or 944 filing for the Employer Identification Number (EIN) used by that establishment. Other temporary workers and workers whose payroll was reported under a different firm's EIN were reported elsewhere. Comparisons of census-year data and data for earlier years should be used with caution.\n\nData are shown in thousands of dollars ($1,000).\n\nSee Related Terms.\n\nSector-Specific Information\n\nAdministrative and Support and Waste Management and Remediation Services; Arts, Entertainment, and Recreation; Educational Services; Health Care and Social Assistance; Information; Management of Companies and Enterprises; Professional, Scientific, and Technical Services; and Other Services (Except Public Administration)\n\nIncluded are salaries of members of professional service organizations or associations which operate under state professional corporation statutes and file a corporate federal income tax return.\n\nFinance and Insurance and Real Estate and Rental and Leasing Sectors\n\nIncluded is compensation paid to sales agents (e.g., independent insurance or real estate agents) as reported on IRS Forms 941 or 944; exclude if reported on IRS Form 1099-MISC- Statement for Recipients of Miscellaneous Income.\n\nExcluded are commissions paid to independent (nonemployee) agents, such as insurance or real estate agents.\n\nManufacturing Sector\n\nExcluded are payments to members of Armed Forces and pensioners carried on the active payrolls of manufacturing establishments.\n\nMining Sector\n\nIncluded are payments received on a ton, car, or yard basis.\n\nExcluded are payments to members of Armed Forces and pensioners carried on the active payroll of mining establishments. Also excluded are royalty payments to unions and costs of smithing, explosives, fuses, electric cap lamps, and mine supplies used in production, development, and exploration work but charged to employees and deducted from their wages.\n\nWholesale Trade Sector\n\nIncluded is compensation paid to sales agents and/or brokers as reported on IRS Forms 941 or 944; exclude if reported on IRS Form 1099-MISC, Statement for Recipients of Miscellaneous Income.\n\nExcluded are commissions paid to independent (nonemployee) agents and/or brokers."
  ],
  "see_also": [
    "Operating Expenses"
  ],
  "references": [
    "U.S. Census Bureau Glossary"
  ],
  "url": "https://mlchart.com/terminology/economic-statistics/annual-payroll/"
}