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Date: July 31, 2014

Bulletin Number: 1334

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Subject

Yonkers Withholding Tax Change

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.