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A cafeteria plan or cafeteria system is a type of employee benefit plan offered in the United States pursuant to Section 125 of the Internal Revenue Code. [1] Its name comes from the earliest versions of such plans, which allowed employees to choose between different types of benefits, similar to the ability of a customer to choose among available items in a cafeteria.
A cafeteria plan - also known as a Section 125 plan, after the portion of the IRS code that regulates the plans - lets employees redirect part of their salaries and wages to pay for certain benefits.
The examples and perspective in this article deal primarily with the United States and do not represent a worldwide view of the subject. You may improve this article, discuss the issue on the talk page, or create a new article, as appropriate.
A Qualified Employee Discount is defined in Section 132(c) as any employee discount with respect to qualified property or services to the extent the discount does not exceed (a) the gross profit percentage of the price at which the property is being offered by the employer to customers, in the case of property, or (b) 20% of the price offered for services by the employer to customers, in the ...
Section 125 affects the taxation powers of both levels of government, and has received a broad interpretation in the Canadian courts. Since the 1930 Supreme Court of Canada ruling in Lawson v. Interior Tree Fruit and Vegetables Committee of Direction, taxation is held to consist of the following characteristics: [7] it is enforceable by law;
Sometimes the same Tennant drawing reappears in another Dummies book with a new caption. Another constant in the Dummies series is "The Part of Tens", a section at the end of the books where lists of 10 items are included. They are usually resources for further study and sometimes also include amusing bits of information that do not fit readily ...
Section 125 of the Constitution of Australia deals with matters relating to the seat of the Commonwealth government. It specifies that it will be in its own territory that is under direct Commonwealth control , that will be at least 100 miles (160 km) from Sydney and will have an area of no less than 100 square miles (260 km 2 ).
The rule against perpetuities serves a number of purposes. First, English courts have long recognized that allowing owners to attach long-lasting contingencies to their property harms the ability of future generations to freely buy and sell the property, since few people would be willing to buy property that had unresolved issues regarding its ownership hanging over it.
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