Form Nys-50 - Employer'S Guide To Unemployment Insurance, Wage Reporting, And Withholding Tax Page 12
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52Page 12 of 52 NYS-50 (10/11)
Display of poster
Combined reporting
Upon registration, employers (except household employers) will receive
Common paymaster
I
a poster, Notice to Employees,
A 133, which informs their workers
New York State does not have the equivalent filing status that the IRS
that their jobs are protected by unemployment insurance. It must be
allows as a common paymaster. However, the Tax Department and
posted where it may easily be seen by employees. Additional copies
Labor Department may accommodate employers who have common
may be obtained by contacting the nearest Unemployment Insurance
paymaster status with the IRS for withholding tax, wage reporting, and
Tax Services Office or the Department of Labor, Registration Subsection
unemployment insurance (see Joint or shared employment in the chart
(see Unemployment insurance issues—Where can I find the answers? on
on page 9 and Taxable limit below).
page 46).
The common paymaster is responsible for filing information and tax
Record-keeping requirements
returns and issuing Form(s) W-2 for wages paid by the common
paymaster. If you file as a common paymaster for federal employment
All employers must maintain records for each person they employ. The
tax purposes, you must contact the Tax Department and the Labor
records must show:
Department for information on filing as a common paymaster for
1. The employee’s name and social security account number; and
New York State withholding tax, wage reporting, and unemployment
2. For each payroll period:
insurance purposes.
• the beginning and ending dates;
Send written requests to file as a common paymaster to both of the
• the days the employee worked and the earnings for each day;
following addresses:
• all other payments made to the employee, including vacation pay,
NYS TAX DEPARTMENT
bonuses, dismissal pay, tips, the reasonable value of board and
ACCOUNT SERVICES
lodging, and other forms of compensation.
W A HARRIMAN CAMPUS
ALBANY NY 12227
Records must be retained for the current year and at least three
preceding years and be available for inspection by the Department of
NYS DEPARTMENT OF LABOR
Labor.
LIABILITY & DETERMINATION SECTION
W A HARRIMAN CAMPUS
Reporting requirements
ALBANY NY 12240-0322
Liable employers are required to report their payroll and pay
The requests should be on company letterhead and should include the
unemployment insurance tax each calendar quarter, using
common paymaster FEIN and current address, as well as the FEIN for
Form NYS-45, Quarterly Combined Withholding, Wage Reporting, and
all employers filing under the common paymaster FEIN.
Unemployment Insurance Return, and Form NYS-45-ATT, Quarterly
Combined Withholding, Wage Reporting, And Unemployment Insurance
Taxable limit
Return - Attachment, if applicable. This is true whether or not wages
are subject to withholding of tax or payment of tax under the Personal
Unemployment insurance tax is based only on the first $8,500 of
Income Tax Law. Reporting forms must be filed even if the employer
remuneration paid to each employee in a calendar year. Remuneration
had no payroll in the quarter (see Seasonal employers, below, for
includes every form of compensation paid to covered employees
exception). Any late payments of tax result in interest assessments
including salary, cash wages, commissions, bonuses, tips, vacation
and may also increase an employer’s tax rate in future years (see
pay, the reasonable value of meals, rent and lodging, and other types of
Consequences of late or inaccurate reporting, on page 13).
noncash compensation.
Quarterly filing due dates
In determining the first $8,500 of remuneration paid to an employee,
an employer who has acquired all, or part, of another employer’s
Calendar quarter
Due date
business may consider the wages paid by the former employer. Also, in
determining the first $8,500 of remuneration paid to an employee, wages
January-February-March
April 30
paid and reported to another state may be considered. This usually
April-May-June
July 31
pertains to an employee who is transferred into New York State.
July-August-September
October 31
Employers who share the services of a single employee are required
October-November-December
January 31
to report and pay the tax on their shares of the employee’s earnings.
Note: When the due date falls on a Saturday, Sunday, or legal holiday
Each is liable for taxes up to the annual taxable limit of $8,500. However,
(see page 37), you are permitted to file on the next business day.
taxes are required only on the first $8,500 of the total annual earnings of
a person jointly employed by two or more employers if the employers are
Checks in payment of taxes due should be made payable in U.S. funds
financially related.
to NYS Employment Taxes. Entering the withholding identification
number on the remittance will ensure proper credit of payment.
If two or more financially related corporations concurrently employ the
same individual(s) and pay such concurrently employed individual(s)
If you need forms, see Unemployment insurance issues — Where can I
through a common paymaster, which is one of such corporations, the
find the answers? on page 46.
common paymaster may report and pay UI contributions on the first
$8,500 paid to each concurrently employed individual, under its account.
Seasonal employers
However, if reporting by the common paymaster has not been approved
If, due to the seasonal nature of your business, there is at least one
for FUTA purposes, then each of the employers must report its share of
quarter of the calendar year in which you do not make any wage
the wages paid to the concurrent employee(s), but pay tax only on the
payments subject to both income tax withholding and unemployment
first $8,500 in the aggregate.
insurance contributions, you are eligible for seasonal employer status. To
obtain seasonal employer status, you must file a Form NYS-45 with the
Reporting tips and meals
seasonal employer box marked. Thereafter, you are not required to file
Tips employees receive in connection with services performed
Form NYS-45 for subsequent quarters during the year in which you paid
are taxable and must be reported. Employers are required to advise their
no wages subject to unemployment insurance and withholding. However,
employees that they have the right to certify to the amount of tips they
you must mark the seasonal employer box on every return you are
receive. A certification is a signed and dated statement furnished by the
required to file, or you will lose your seasonal employer status and be
employee to the employer not less than once each calendar quarter
subject to penalties for not filing a return for a subsequent quarter in the
indicating the amount of tips received.
same calendar year.
The reasonable cash value of board, rent, housing or lodging is taxable
and must be reported. An employer may not report a lower cash value
for meals and lodging than the value placed on them in complying with
minimum wage orders.
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial