How Do I Update My New York Tax Tables?

Where do I find the tax tables?

For NY tax tables, you will need publication NYS-50-T-NYS New York State Withholding Tables and Methods, from the NY Department of Revenue web site. You may also need to refer to publication NYS-50, Employer's Guide to Unemployment Insurance, Wage Reporting, and Withholding Tax.

Which tables do I use?

Use the "Exact Calculation Method" (percentage formula) for the annual tax rate schedule. Figure 1 shows an example.

Note that the figures shown in this document are for demonstration purposes only, and may not be current. Please consult the current publication for the most up-to-date information. Though the figures change periodically, the method of calculation should remain the same. If the calculation method has changed for this state please notify the webmaster.

How to setup/update the tables in PowerChurch Plus

To setup/update PowerChurch Plus with the state tax tables shown in Figure 1 above, select the Accounting menu, Payroll, Setup, then Maintain Tax Tables. A separate table will need to be created for the single and married table rates.

Click Add to enter a new table, or use the Find/Locate buttons to select an existing NY tax table to update. When adding a new table, you will be prompted for the type of tax table you're adding. Select State: New York. For each table, enter the following information:

• Description: Enter a unique name to identify the tax table (for example, "NY State Tax - Single").
• Tax type: The type of tax in which this table applies. In this instance, select State Tax.
• Standard deduction: Enter the annual amount for the deduction allowance shown in Table B. Table B is found in publication NYS-50-T under the section "Special Tables for Deduction and Exemption Allowances." This rate varies by marital status. Figure 1 shows an example.
  
  

Figure 1 - 2023 Deduction Allowance (NY State)

• Withholding allowance: Enter the annual exemption allowance for one exemption shown in Table C. Table C is found in the same section as Table B. Figure 2 shows an example.

Figure 2 - 2023 Exemption Allowance (NY State)

• Round tax to nearest whole dollar: If required, check this box to round the calculated tax amount to the nearest whole dollar.
• Annual Rate Table: Click the Annual Rate Table tab and enter the maximum amount and percentage for each bracket. From Figure 1 above, enter the figures from Column 2 followed by the tax rate in Column 4 (as a percentage) for each bracket
  For wages above $1,077,550, there is a separate table referenced later in the document.
  
  PowerChurch's tax tables hold a maximum of $9,999,999, so the last two brackets will need to be excluded.
  
  

When you are done, the screen should look like this:

NY State Single Tax Table (Deduction and Exemption Information)


NY State Single Tax Table (Annual Rate Table)

Follow the instructions just described for the married withholding table.

If you are required to withhold New York City resident tax or Yonkers resident tax, you will need to setup additional tables. There are two additional publications for these: New York City local tax and Yonkers local tax. Follow the same instructions above with the exception of the Tax type. Because the resident taxes report separately on the W2 forms, you will need to define a new Local tax type. To add a new tax type, select the Accounting menu, Payroll, Setup, then Maintain Tax Types. Click Add and choose Local Tax as the type of tax you're adding. Enter the following information:

• Description: Enter a unique name to identify the tax type (for example, "NY City Resident Tax" or "Yonkers Resident Tax").
• Locality name: This will print in the Locality box on the W2 forms, (for example, "New York City").
• ID number: Enter the state tax ID number.

A NY local tax table, New York City for example, would look like this:

NY City Single Tax Table (Deduction and Exemption Information)

NY City Single Tax Table (Annual Rate Table)