Purpose
To inform agencies of the change in the Yonkers resident personal income tax surcharge and supplemental tax withholding rates.
Affected Employees
Employees who are residents of the City of Yonkers or are employed in the City of Yonkers
Background
Effective August 1, 2014, the Yonkers personal income tax surcharge has been increased from 15% to 16.75%.
Note: There will be a “catch-up” rate of 19.2% for the remainder of 2014 to include amounts under-withheld for the period January 1, 2014 through July 31, 2014.
Effective August 1, 2014, the supplemental withholding rate has been increased from 1.443% to 1.84704%.
Effective Date(s)
Institutional Paychecks dated August 7, 2014
Administration Paychecks dated August 13, 2014
OSC Actions
OSC will update the Yonkers withholding tax table with the rates prescribed in publication NYS-50-T-Y (Yonkers Withholding Tax Tables and Methods) found at the NYS Department of Taxation and Finance website at Department of Taxation and Finance.
Agency Actions
Notify affected employees of the increase in the Yonkers withholding rate.
Questions
Questions regarding this bulletin may be emailed to the Tax and Compliance mailbox.