New York City withholding tax rate change effective Sepetember 1, 2010

Rate change effective September 1, 2010

• If you have employees making more than $500,000 who are subject to New York City withholding, revised withholding tax computation rules may affect your payroll made on or after September 1, 2010. 
• Calculate new withholding tax amounts using Publication NYS-50-T.2, Revised New York City Withholding Tax Computation Rules. 
• A new Form IT-2104, Employee's Withholding Allowance Certificate, is also available. Employers should begin using the revised Form IT-2104 immediately.

Just a reminder
To avoid penalties, it's important to file and pay withholding tax on time and accurately report employee wage and withholding information.  See Publication NYS-50, Employer's Guide to Unemployment Insurance, Wage Reporting, and Withholding Tax for more information.

Source: http://www.tax.state.ny.us/wt/rate.htm