New York Tax and Finance Department Publishes State Withholding Tax Tables, Methods for 2023

The New York Department of Taxation and Finance Nov. 1 published the state withholding tax tables and methods, effective Jan. 1, 2023, for corporate income and individual income tax purposes. The publication includes information on: 1) revised 2023 state 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 and annual tax rate schedules; 4) special tables for deduction and exemption allowances; and 5) top income tax rates method, exact calculation method, and dollar to dollar withholding tables. [N.Y. Dep’t of Tax’n & Fin., ...