The information below is provided to employees for informational purposes only. Anyone seeking personal tax advise should seek consultation outside NYU.
2017 Tax Rates and Wage Base Limits
2017 Social Security and Medicare Information
|Wage Base||Rate||Maximum Tax||Additional Tax|
|Medicare||None||1.45%||None||0.90% over $200k|
2017 Supplemental Tax Rates
|Federal (in excess of $1m)||39.60%|
|New York State||9.62%|
|New York City||4.25%|
Employees may claim as many exemptions as they deem appropriate on Form IT-2104 however if the employee claims more than 14 exemptions NYU is required to file a copy of the Form IT-2104 with New York State Tax Department, who may require the employee to justify your claim for more than 14 exemptions.
An employee whose residence is outside New York City/Yonkers may be automatically exempted from New York City/Yonkers tax.
New York Form IT-2104.1 is the New York State, City of New York, and City of Yonkers Certificate of Nonresidence and Allocation of Withholding Tax.
Form IT-2104-E requires:
The employee must be under age 18 or over age 65, or a full-time student under age
Did not have a NY tax liability for the prior year.
You do not expect to have a NY tax liability for the current year.
Annually on February 1 of each year, employees claiming exemption from tax must submit new forms to Tax Services and Payroll, or the electionss will default to Single, 0 exemptions.
Form IL-W-4 (Illinois Withholding Allowance Certificate and Instructions)