N.Y. Comp. Codes R. & Regs. tit. 20 § 251.1

Current through Register Vol. 46, No. 50, December 11, 2024

Section 251.1 - Determining City of Yonkers income tax surcharge to be withheld

Tax Law, §1329; Codes and Ordinances of the City of Yonkers, § 92-88

(a) The amount of City of Yonkers income tax surcharge on residents of such city to be deducted and withheld must be determined in accordance with one of the following withholding methods:

I. Method I - Wage Bracket table Method

II. Method II - Exact Calculation Method

III. Method III - Top Income Tax Rates Method

In case of special situations, however, an employer may apply to the Commissioner of Taxation and Finance for permission to use another method. The wage bracket table method, the exact calculation method, and the top income tax rates method are set out in Appendix 10-A of this Title. The Yonkers withholding tax tables and methods, along with forms, instructions and other guidance for withholding, payment and reporting of the City of Yonkers income tax surcharge on residents are available on the Tax Department's website.

(b) Supplemental wages. The provisions of section 171.4(b) of this Title with respect to the withholding of New York State personal income tax on supplemental wages shall also be applicable to the withholding of City of Yonkers income tax surcharge on residents, except with regard to the rate prescribed in such section. For City of Yonkers income tax surcharge on residents withholding purposes, an employer may withhold from the supplemental wages at a rate which is equal to the product of the rate of the City of Yonkers income tax surcharge on residents for the applicable taxable year multiplied by the rate of New York State personal income tax to be withheld from the highest denominated taxable income applicable to withholding from salaries and wages (e.g., for supplemental wages paid after December 31, 2021, 16.75 percent multiplied by 11.70 percent which equals 1.95975 percent), without any allowance for withholding exemptions.

N.Y. Comp. Codes R. & Regs. Tit. 20 § 251.1

Amended New York State Register December 29, 2021/Volume XLIII, Issue 52, eff. 12/29/2021