W-2 Year-End Processing
provide the 2003 W-2 Year-End processing schedule and policies.
copies of 2003 W-2 forms will be prepared by the Office of the State
Comptroller (OSC) and mailed to Agency Payroll Offices for their
distribution before February 2, 2004.
W-2s for the 2003 calendar year will include earnings paid in checks
In most circumstances, an employee who has worked for more than one State
agency during the year will receive one W-2. Workers' Compensation
supplemental payments will continue to be included on the W-2
In order to be included in the 2003 W-2s, AC-230s for calendar year 2003
must be received by OSC no later than 12/31/2003 for the Institution cycle
and no later than 1/07/2004 for the Administration cycle. If these
deadlines are not met, Agency Payroll Offices will need to prepare
corrected W-2 forms.
Refer to Payroll bulletin 430 for the AC-230 processing schedule.
information which will appear on the W-2 is described below:
and Other Compensation
Income Tax Withheld
income tax withheld.
||Wages subject to
Social Security taxes, not to exceed $87,000.00.
Security Tax Withheld
tax deducted, not to exceed $5,394.00.
||All wages subject
to Medicare taxes. There is no salary cap on Medicare wages.
income credit paid to an employee.
(Amounts not included in Box 1)
||E - Section
||G - Section
457(b) deferred compensation plan
||P - Excludable
moving expense reimbursements (not included in boxes 3 and 5)
||[ ] Retirement
Plan [ ] Third Party Sick Pay
||Amounts to be
non-taxable retirement contributions made to New York State or
City Retirement Systems or to TIAA/CREF. This amount must be
reported for State and Local taxes. If there is a minus sign
(-) with this amount, it can be disregarded for State and
Local taxes since the taxes have already been paid.
expense - This code is used for payments of "lieu of
expenses," non-overnight meal allowances, excess per diem
reimbursements or personal car mileage.
fringe benefit - This code is used for the lease value of an
transportation fringe benefits (parking) in excess of IRS
income - The value of the employer's contributions for
employees with Domestic Partner Health Insurance.
Compensation excluded amount - This is the amount awarded by
the NYS Workers' Compensation Board, which is excluded from
the gross pay for the current year for a work-related injury.
University of New York (CUNY) employees only - This amount
includes Dependent Care, Flexible Spending Account, and
Non-Taxable Health Insurance and is excludable for Federal
Income tax, FICA and Medicare taxes, and is not included in
Boxes 1, 3, and 5. This amount must be reported for State and
of sick pay paid by a third party
||A two-letter code
from the list below indicating which State income taxes were
||NY - New
IL - Illinois
DC - District of Columbia
VA - Virginia
||The State wages
reported are the same as the amount of Federal wages required to be
reported in Box 1 - Wages, Tips and Other Compensation.
||The total State
tax withheld is reported in this box.
||The total Local
wages are reported in this box. New York City wages are on the top
line and Yonkers wages are directly below in the same box. For a
part-year New York City resident, the amount reported is only for
that period during which the employee was a New York City resident.
The Yonkers wages are the same amount as the State wages.
||The total Local
taxes withheld are reported in this box. New York City tax withheld
is on the top line and Yonkers tax withheld is directly below in the
||The name of the
locality if local income tax was withheld for New York City and /or
City of Yonkers.
Name and address
This information will be printed
on all copies of the W-2 and includes the New York State Federal ID #
(14-6013200), City University Federal ID # (13-3893536), NYS Environmental
Facilities Corporation Federal ID # (14-1499804), NYS Science and
Technology Federal ID # (14-1491323), SUNY Construction Fund Federal ID #
(14-6019701) or Industrial Exhibit Authority Federal ID # (16-1332929).
Taxable Gross Calculations
in agencies other than CUNY should retain their last check stub/advice
statement of 2003 for a record of their Non-Taxable Health Insurance paid
in 2003. Although this amount is deducted from Boxes 1, 3, and 5 to
calculate the taxable salary for Federal income tax and Social Security
and Medicare taxes, the amount paid for health insurance in 2003 does not
appear on the W-2.
For CUNY employees, deductions for Dependent Care, Flexible Spending
Account and Non-taxable Health Insurance are reported as IRC125
in Box 14.
is in the process of updating its distribution listing for the mailing,
pickup or special handling of the 2003 W-2s. |
The distribution procedure is the same one used for employees' direct
deposit advices (excluding the pilot mailing agencies). If OSC
currently mails your direct deposit advice statements, your 2003 W-2
statements will be mailed. Agencies that currently pick up advice
statements will be contacted to pick up 2003 W-2 statements.
If your agency does not want the 2003 W-2s distributed in the same manner
as your direct deposit advice statements or if your agency is responsible
for multiple agency codes and you prefer the W-2 distribution handled
differently than the current direct deposit distribution, please send request to the Payroll Deductions mailbox.
If a W-2 correction is needed, agencies
should not release the corrected W-2 to an employee until the correction is
approved by OSC.
Questions regarding the W-2, the W-2
correction process and the AC-230 process may be directed to the Payroll Deductions mailbox.
- Additional Employee Information