New York State Facts New York effective 1/1/2022 Federal Effective 7/24/2009
| New York Final Paycheck Law | |
|---|---|
| Fired: | The final paycheck is due by the next regular payday. If the employee so requests, the wages must be mailed. |
| Quit: | The final paycheck is due by the next regular payday. If the employee so requests, the wages must be mailed. |
| New York Direct Deposit Law | |
|---|---|
| Can you force direct deposit | No |
| New York Minimum Wage | |
|---|---|
| Minimum Wage | $13.12 |
| Minimum Cash Wage(Tipped Employee) | $8.80 |
| Maximum Tip Credit | 4.40 |
| New York State Income Tax | |
|---|---|
| Wage Withholding | Tables |
| Supplemental Wage/Bonus Rate | 11.70% |
| New York Unemployment Insurance |
|---|
| Maximum 2022 Taxable Earnings(Unchanged from 2021) | $12,000 |
| Employee 2022 Deduction | None |
| Employer 2022 Tax Rates(Includes 0.2% fund-stabilization surtax) | 2.1-9.9% |
| Standard 2022 New Employer Rate(Includes 0.2% fund-stabilization surtax) | 4.10% |
| Voluntary Contribution Permitted | Yes |
Federal Tax Facts
| Federal Minimum Wage | |
|---|---|
| Minimum Wage | $7.25 |
| Minimum Cash Wage(Tipped Employee) | $2.13 |
| Maximum Tip Credit | $5.12 |
| Youth Minimum Wage | $4.25 |
| FICA (Medicare) | |
|---|---|
| Maximum Taxable Earnings | No Limit |
| Employee / Employer Tax Rate (Unchanged from 2019) | 1.45% |
| Additional Medicare Tax Withholding on Wages > $200,000(No Employer Match) | 0.90% |
| FICA (Social Security) | |
|---|---|
| Maximum Taxable Earnings (Increased from $142,800 in 2021 | $147,000 |
| Employee / Employer Tax Rate(Unchanged from 2021) | 6.20% |
| FUTA (Employer-Paid) | |
|---|---|
| Maximum Taxable Earnings | $7,000 |
| Percent of Taxable Wages | 6.00% |
| Maximum Credit | 5.40% |
| Normal Net Tax | .060% |
| Health Savings Accounts | |
|---|---|
| Self-Only Contribution Limit (Employee / Employer)(Increased from $3,600 in 2021) | $3,650 |
| Family Contribution Limit (Employee / Employer)(Increased from $7,200 in 2021) | $7,300 |
| Catch-up Contribution Limit (Employee / Employer)(Unchanged from 2021) | $1,000 |
| Pension Plans | |
|---|---|
| Contribution Limit – 401(k) & 403(b) plans(Increased from $19,500 in 2021) | $20,500 |
| Catch-up Contribution Limit – 401(k) & 403(b) plans (age 50 or older) (Unchanged from 2021) | $6,500 |