Yonkers Withholding Tax Tables And Methods - 2015 (Page 3 of 26) in pdf

NYS-50-T-Y (1/15) Page 3 of 26

Important information

Changes for 2015

The 2015 New York State personal income tax rate schedules have been revised to reflect the cost of living adjustment required under

the Tax Law. In addition, the Yonkers withholding tax rate of 19.2% in effect over the period August 1 through December 31, 2014, has

been lowered to the annualized rate of 16.75%. Therefore, the Yonkers resident withholding tables have been revised. Accordingly,

effective for payrolls made on or after January 1, 2015, employers must use the revised withholding tax tables and methods in this

publication to compute the amount of Yonkers resident personal income taxes to be withheld from employees.

The Yonkers nonresident earnings tax rate has not changed.

Form IT-2104 – Employee’s Withholding Allowance Certificate

The 2015 New York State Form IT-2104 has been revised to account for the cost of living adjustments to the personal income tax rate

schedules required under the Tax Law. The revised withholding tables and methods in Publication NYS-50-T-Y should ensure that the

proper amount of tax is withheld for 2015. However, employers should encourage employees who completed a Form IT-2104 prior to

January 1, 2015, using the worksheet to compute withholding allowances, or the charts in Part 4 or Part 5 to enter an additional dollar

amount of Yonkers withholding on line 5, to complete a revised Form IT-2104.

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Supplemental wage payment withholding rates

Effective January 1, 2015

If you pay supplemental wages (bonuses, commissions, overtime pay, sales awards, etc.) with regular wages but do not specify the

amount of each, withhold income tax as if the total were a single payment for a regular payroll period.

If you pay supplemental wages separately (or combine them in a single payment and specify the amount of each), the income tax

withholding method depends partly on whether or not you withhold income tax from your employee’s regular wages:

• If you withhold income tax from an employee’s regular wages, you can use one of the following methods for the supplemental

wages:

a. Withhold at the following supplemental rates:

Yonkers Resident ............................ 1.61135% (.0161135)

Yonkers Nonresident ....................... 0.50% (.0050)

b. Add the supplemental and regular wages for the most recent payroll period this year. Then figure the income tax withholding

as if the total were a single payment. Subtract the tax already withheld from the regular wages. Withhold the remaining tax

from the supplemental wages.

• If you did not withhold income tax from the employee’s regular wages, use method b. (This would occur, for example, when the

value of the employee’s withholding allowances claimed on Form W-4 is more than the wages.)

Also see federal Publication 15, Circular E, for a list of other payments that may be considered supplemental wages.

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