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Date: May 15, 2015

Bulletin Number: 1406

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Subject

New York City Withholding Tax Change

Purpose

To inform agencies of the change in the New York City resident withholding tax rates.

Affected Employees

Employees who are residents of the City of New York.

Background

Recent legislation on New York City personal income taxes requires changes to New York City withholding taxes for employees with taxable incomes over $500,000. 

Effective June 1, 2015, the New York City Annual Tax Rate Table will incorporate a revised tax rate for taxpayers earning over $500,000. 

Effective
Date(s)

Administration paychecks dated June 3, 2015
Institution paychecks dated June 11, 2015.

OSC Actions

OSC will update the New York City withholding tax table with the rates prescribed in publication NYS-50-T-NYC (New York City Withholding Tax Tables and Methods) found on the NYS Department of Taxation and Finance website at Department of Taxation and Finance.

Agency Actions

Notify affected employees.

Questions

Questions regarding this bulletin may be emailed to the Tax and Compliance mailbox.