If you are a small business owner, or an entrepreneur just starting out, you may be wondering what kind of business entity to form. There are many different types of entities, but which one is right for you? In this blog post, we will discuss Form CV 426, also known as the California Cooperative Corporation Law. This type of entity can be beneficial for businesses that want to pool resources and share profits and losses. Let's take a closer look at this option!
| Question | Answer |
|---|---|
| Form Name | Form Cv 426 |
| Form Length | 1 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 15 sec |
| Other names | cv 426 garnishment, wisconsin exemption worksheet, wisconsin exemption worksheet print, wisconsin garnishment exemption worksheet |
Garnishment Exemption Worksheet
Note: You may use this worksheet to calculate how much of your earnings are subject to garnishment. You are not required to complete this worksheet or send it to the garnishee or the creditor.
Instructions: • First, calculate your total earnings by using Schedule 1 (Calculation of Income).
•Then calculate the amount of your earnings subject to garnishment by using Schedule 2 (Calculation of Amount Subject to Garnishment).
•Finally, to determine how much, if any, of your earnings are exempt from garnishment, use Schedule 3 (Calculation of Poverty Guideline Exemption) and the separate Poverty Guidelines for Earnings (form
|
|
List in Column A earnings after subtracting Social Security, Federal and State |
List in Column B all |
|||||
Schedule 1. |
Income Taxes. |
|
|
income other than |
||||
Calculation of |
For both Columns A and B, calculate amounts on the same basis (weekly, |
earnings. |
||||||
Income |
biweekly, semimonthly, monthly) as the debtor's earnings. |
|
|
|
||||
|
|
|
|
|
Column A |
|
Column B |
|
|
|
1. |
Debtor |
1a. |
|
1b. |
|
|
|
|
|
|
|
|
|
|
|
|
|
2. |
Spouse (if living in same household as debtor) |
2a. |
|
2b. |
|
|
|
|
|
|
|
|
|
|
|
|
|
3. |
Other legal dependents |
3a. |
|
3b. |
|
|
|
|
|
|
|
|
|
|
|
|
|
4. |
TOTAL EARNINGS |
4a. |
|
4b. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Schedule 2.
Calculation of
Amount Subject to
Garnishment
5. |
Debtor's disposable earnings amount from line 1a |
5. |
|
|
|
6. |
20% of amount on line 5 or the amount by which line 5 exceeds thirty |
|
|
times the federal minimum hourly wage, whichever is less. (Currently the |
6. |
|
federal minimum hourly wage is $7.25. Use same basis as in Schedule 1 of |
|
|
|
|
|
weekly, biweekly, semimonthly, monthly). |
|
7. |
25% of amount on line 5 |
7. |
|
|
|
8. |
Court ordered assignments of child support and/or maintenance that you |
8. |
|
pay. Use same basis as in Schedule 1 (weekly, biweekly, semimonthly, monthly). |
|
|
|
|
9 |
Subtract amount on line 8 from line 7 |
9. |
10.Insert the lesser amount of line 6 or line 9. This is the amount subject
to garnishment. If this amount is "0" or less than zero, then you do |
10. |
not have to complete Schedule 3 because all earnings are exempt. |
|
Schedule 3.
Calculation of
Poverty Guideline
Exemption
11. |
Disposable earnings from line 4a |
11. |
|
|
|
|
|
|
|
|
|
12. |
Other income from line 4b |
12. |
|
|
|
|
|
|
|
|
|
13. |
Add line 11 to line 12 |
13. |
|
|
|
|
|
|
|
|
|
14. |
Child support and/or maintenance from line 8 |
14. |
|
|
|
|
|
|
|
|
|
15. Subtract amount on line 14 from line 13 for household income |
15. |
|
|||
|
|
|
|
|
|
16. |
Amount subject to garnishment from line 10 |
16. |
|
|
|
|
|
|
|
|
|
17. |
Poverty Guideline Amount for pay period of |
|
|
|
|
|
debtor and size of family |
17. |
|
|
|
|
(See current Poverty Guideline Chart) |
|
|
|
|
18. |
Add lines 16 and 17 |
|
|
18. |
|
|
|
|
|
|
|
19.Compare line 15 and line 18. If line 18 is greater than line 15, proceed to line 20. If line 15 is equal to or greater than line 18, then the amount on line 10 is the amount subject to garnishment.
20.Subtract line 17 from line 15. This is the amount subject to garnishment if
the garnishment causes the income to fall below the poverty guidelines. If |
20. |
this amount is "0" or less than zero, then all earnings are exempt from |
|
garnishment. |
|
§812.34(4), Wisconsin Statutes |
This form shall not be modified. It may be supplemented with additional material.
Page 1 of 1