New York (NY) – 2020

New York

Minimum WageNew YorkFederal
Minimum Wage11.80$7.25
Minimum Cash Wage (Tipped Food Service Worker)7.85
Maximum Tip Credit (Tipped Food Service Worker)3.95
State Income TaxNew YorkFederal
Wage WithholdingTables
Supplemental Wage / Bonus Rate9.62%
Unemployment InsuranceNew YorkFederal
Maximum 2020 Taxable Earnings (Increased from $11,400 in 2019)$11,600
Employee 2020 DeductionNone
Employer 2019 Tax Rates (Includes 0.075% Re-employment Service Fund rate)0.6 – 7.9%
Standard 2019 New Employer Rate (Includes 0.075% Re-employment Service Fund rate)3.20%
Voluntary Contribution PermittedYes
Disability InsuranceNew YorkFederal
Employee Deduction (Up to $0.60 per week)0.50%
Employer ContributionDifference between benefit cost and employee contribution
Family Leave Insurance0.270% of employee’s wages, up to annual maximum of $196.72

Federal (FED) – 2020

Minimum WageFederal
Maximum Tip Credit$5.12
Youth Minimum Wage$4.25
Minimum Wage$7.25
Minimum Cash Wage (Tipped Employee)$2.13
Medicare Rate1.45%
Additional Medicare Tax Withholding on Wages > $200,000 (No Employer Match)0.90%
Maximum Taxable EarningsNo Limit
Employee / Employer Tax Rate (Unchanged from 2019)6.20%
Maximum Taxable Earnings (Increased from $132,900 in 2019)$137,700
Normal Net Tax0.60%
Maximum Credit5.40%
Percent of Taxable Wages6.00%
Maximum Taxable Earnings$7,000
Health Savings AccountsFederal
Catch-up Contribution Limit (Employee / Employer) (Unchanged from 2019)$1,000
Family Contribution Limit (Employee / Employer) (Increased from $7,000 in 2019)$7,100
Self-Only Contribution Limit (Employee / Employer) (Increased from $3,500 in 2019)$3,550
Supplemental Wage / Bonus RatesFederal
Pay over $1 Million (Unchanged from 2019)37%
Flat Rate Withholding Method (Unchanged from 2019)22%

New York State Resources

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