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