New York Tax and Finance Department Publishes State Withholding Tax Tables, Methods

The New York Department of Taxation and Finance Dec. 1 published state withholding tax tables and methods for corporate income and individual income tax purposes. The publication includes information on: 1) revised 2020 individual income tax rate schedules to reflect income tax rate reductions; 2) completion of Form IT-2104, Employee’s Withholding Allowance Certificate; 3) supplemental wage payment withholding rates, effective Jan. 1, 2020, and annual tax rate schedules; and 4) special tables for deduction and exemption allowances. The revised tax rate schedules take effect Jan. 1, 2020. [N.Y. Dep’t of Tax’n & Fin., Publ’n NYS-50-T-NYS, 12/01/19]

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