Rich,
Since no one from Comair is answering your question, let me tell you how pay is handled at SkyWest.
A first year FO gets $19.02 for every credit hour and $1.60 (effective 28 Jun 02) for every hour from the time you check in at your domicile until the time you are released.
Credit hours is the greatest of the following
a) Historical block time on a leg by leg basis
b) Actual block time on a leg by leg basis
c) 3:45 daily guarantee on a day by day basis (not a look back)
d) 1:2 duty day guarantee for the first 12 hours of scheduled duty (a 10 hour duty day guarantees at least 5 hours of credit)
e) 1:1 guarantee for that part of the duty day scheduled for more than 12 hours (a 14 hour duty day will have a guarantee of 6 hours for the first 12 and 2 for the last 2 for a total of 8).
If a trip is cancelled for operations, maintenance, or weather, the crew gets paid the scheduled hours.
SkyWest does not have a trip rig guarantee, but the daily and duty rigs take care of most of the scheduling abuses.
Per Diem is taxable if you begin and end your day at your assigned domicile. Otherwise, it is non-taxable.
Comair differs somewhat from this. For instance, Comair has a 4.3 daily guarantee but it is based on a 30 day look back so that it is really a monthly guarantee of 86 hours.