New York (NY) – 2023

New York Effective 12/31/2022 Federal Effective 7/24/2009

Minimum WageNew YorkFederal
Minimum Wage$14.20$7.25
Minimum Cash Wage (Tipped Food Service Worker)$9.45
Maximum Tip Credit (Tipped Food Service Worker)$4.75
State Income TaxNew YorkFederal
Wage WithholdingTables
Supplemental Wage / Bonus Rate11.70%
Unemployment InsuranceNew YorkFederal
Maximum 2023 Taxable Earnings (Increased from $12,000 in 2022)$12,300
Employee 2023 DeductionNone
Employer 2022 Tax Rates(Includes 0.075% Re-employment Service Fund rate)2.1 – 9.9%
Standard 2022 New Employer Rate (Includes 0.075% Re-employment Service Fund rate)4.10%
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 Insurance0.455% of employee’s wages, up to annual maximum of $399.43

Federal (FED) – 2023

Minimum WageFederal
Youth Minimum Wage$4.25
Maximum Tip Credit$5.12
Minimum Cash Wage (Tipped Employee)$2.13
Minimum Wage$7.25
Additional Medicare Tax Withholding on Wages > $200,000 (No Employer Match)0.90%
Maximum Taxable EarningsNo Limit
Maximum Taxable Earnings (Increased from $147,000 in 2022)$160,200
Employee / Employer Tax Rate (Unchanged from 2022)6.20%
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 2022)$1,000
Family Contribution Limit (Employee / Employer) (Increased from $7,300 in 2022)$7,750
Self-Only Contribution Limit (Employee / Employer) (Increased from $3,650 in 2022)$3,850
Pension PlansFederal
Catch-up Contribution Limit – 401(k) & 403(b) plans (age 50 or older) (Increase from 6,500 in 2022)$7,500
Supplemental Wage / Bonus RatesFederal
Pay over $1 Million (Unchanged from 2022)37%
Flat Rate Withholding Method (Unchanged from 2022)22%

New York State Resources

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