New York (NY) – 2020
New York
| Minimum Wage | New York | Federal |
|---|---|---|
| Minimum Wage | 11.80 | $7.25 |
| Minimum Cash Wage (Tipped Food Service Worker) | 7.85 | |
| Maximum Tip Credit (Tipped Food Service Worker) | 3.95 | |
| State Income Tax | New York | Federal |
| Wage Withholding | Tables | |
| Supplemental Wage / Bonus Rate | 9.62% | |
| Unemployment Insurance | New York | Federal |
| Maximum 2020 Taxable Earnings (Increased from $11,400 in 2019) | $11,600 | |
| Employee 2020 Deduction | None | |
| Employer 2019 Tax Rates (Includes 0.075% Re-employment Service Fund rate) | 0.6 – 7.9% | |
| Standard 2019 New Employer Rate (Includes 0.075% Re-employment Service Fund rate) | 3.20% | |
| Voluntary Contribution Permitted | Yes | |
| Disability Insurance | New York | Federal |
| Employee Deduction (Up to $0.60 per week) | 0.50% | |
| Employer Contribution | Difference between benefit cost and employee contribution | |
| Family Leave Insurance | 0.270% of employee’s wages, up to annual maximum of $196.72 |
Federal (FED) – 2020
| Minimum Wage | Federal |
|---|---|
| Maximum Tip Credit | $5.12 |
| Youth Minimum Wage | $4.25 |
| Minimum Wage | $7.25 |
| Minimum Cash Wage (Tipped Employee) | $2.13 |
| FICA (MEDICARE) | Federal |
| Medicare Rate | 1.45% |
| Additional Medicare Tax Withholding on Wages > $200,000 (No Employer Match) | 0.90% |
| Maximum Taxable Earnings | No Limit |
| FICA (SOCIAL SECURITY) | Federal |
| Employee / Employer Tax Rate (Unchanged from 2019) | 6.20% |
| Maximum Taxable Earnings (Increased from $132,900 in 2019) | $137,700 |
| FUTA (EMPLOYER-PAID) | Federal |
| Normal Net Tax | 0.60% |
| Maximum Credit | 5.40% |
| Percent of Taxable Wages | 6.00% |
| Maximum Taxable Earnings | $7,000 |
| Health Savings Accounts | Federal |
| Catch-up Contribution Limit (Employee / Employer) (Unchanged from 2019) | $1,000 |
| Family Contribution Limit (Employee / Employer) (Increased from $7,000 in 2019) | $7,100 |
| Self-Only Contribution Limit (Employee / Employer) (Increased from $3,500 in 2019) | $3,550 |
| Supplemental Wage / Bonus Rates | Federal |
| Pay over $1 Million (Unchanged from 2019) | 37% |
| Flat Rate Withholding Method (Unchanged from 2019) | 22% |
New York State Resources
Need a Tax Form?
You can download some of the most common tax related forms here.