Payroll State Taxes


Federal

MINIMUM WAGE
Minimum Wage $7.25
Minimum Cash Wage (Tipped Employee) $2.13
Maximum Tip Credit $5.12
Youth Minimum Wage $4.25
FICA (medicare)
Maximum Taxable Earnings No Limit
Employee / Employer Tax Rate (Unchanged from 2016) 1.45%
Additional Medicare Tax Withholding on Wages > $200,000 (No Employer Match) 0.9%
FICA (Social Security)
Maximum Taxable Earnings (Increased from $118,500 in 2016) $127,200
Employee / Employer Tax Rate (Unchanged from 2016) 6.2%
FUTA (employer-paid)
Maximum Taxable Earnings $7,000
Percent of Taxable Wages 6.0%
Maximum Credit 5.4%
Normal Net Tax 0.6%
supplemental wage / bonus rates
Flat rate withholding method (Unchanged from 2016) 25.0%
Pay over $1 Million (Unchanged from 2016) 39.6%
health savings accounts
Self-Only Contribution Limit (Employee & Employer) (Increased from $3,350 in 2016) $3,400
Family Contribution Limit (Employee & Employer) (Unchanged from 2016) $6,750
Catch-up Contribution Limit (Employee & Employer) (Unchanged from 2016) $1,000
retirement plans
Contribution Limit - 401(k) & 403(b) plans (Unchanged from 2016) $18,000
Catch-up Contribution Limit - 401(k) & 403(b) plans (age 50 & older) (Unchanged from 2016) $6,000

New York

Minimum Wage
Minimum Wage $9.70*
Minimum Cash Wage (Tipped Food Service Worker) $7.50*
Maximum Tip Credit (Tipped Food Service Worker) $2.20*

* Base rates (outside of Nassau, Suffolk and Westchester counties or NYC)

State Income Tax
Wage Withholding Tables
Supplemental Wage / Bonus Rate 9.62%
Unemployment Insurance
Maximum 2017 Taxable Earnings (Increased from $10,700 in 2016) $10,900
Employee Deduction None
Employer 2017 Tax Rates (Includes 0.075% Re-employment Services Fund rate) 1.3 - 9.1%
Standard 2017 New Employer Rate (Includes 0.075% Re-employment Services Fund rate) 4.0%
Voluntary Contribution Permitted Yes
Disability Insurance
Employee Deduction (Up to $0.60 per week) 0.5%
Employer Contribution Difference between benefit cost and employee contribution
Agency Websites
Dept. of Taxation and Finance: http://www.tax.ny.gov
Dept. of Labor: http://www.labor.ny.gov