I need help with some "legalese"

[Minimus]

Please tell me how this should be interpreted:

"Employer must forward employee contributions to the financial institution no later than 30 days following the month in which they were withheld from the employee's paycheck."

If an employee had money withheld from their paycheck on March 9, 2007 (pay day) what is the deadline for the employer to submit the money to the financial institution?

I keep getting different answers from co-workers and now I am confused! :crazy:




If this is posted in the wrong forum, I apologize. Please point me to the correct one.

Thanks

[TahitiNut]

1. April 30, 2007 ... imho. (IANAL ... but I can read)

:shrug:

The time between debit/withholding and credit/submission is called "float" in financial circles ... the amount of time a transfer agent has possession (and use) of the funds.

[Vincardog]

2. the month in which they were withheld = March. March ends March 31.

no later than 30 days following March 31 is April 30.
It could be argued that is is April 29.

[NanceGreggs]

3. That is REALLY poorly-worded ...

But on my reading, the monies withheld on March 9 would be due to be paid by April 30 - that's assuming that by "30 days following the month" they are meaning to say "30 days following the end or last day" of the month in which the money was withheld.

[A HERETIC I AM]

4. There is a specific DU'r who will absolutely know the answer to this....

We have a huge depth of talent and experience on this board.

See my PM

[Minimus]

8. Thanks!

[Minimus]

5. I too thought the end of April

and it seems that is what y'all are saying so I'm going with that.

Thanks!:hi:


Edited
Meant to say April oops!

[slowry]

6. "30 days following the month"

Following the month, ie. 30 days after the month, ie. the month then 30 days:

daydaydayday1 2 3 4 5 6 ... 30 days
<some month><following month>

[seriousstan]

7. April 30th