Withholding Information

Taxable Imputed Income

Certain payments such as those for commuting expenses, parking costs (above the qualified parking amount), health insurance reimbursements, relocation expenses, storage fees, employee gifts (above $100 in value) and some tuition costs are taxable to University employees.  The University does not reimburse for these costs.  If a School or department chooses to cover these costs for an employee, they are considered taxable and will be reported to Payroll for inclusion on the employee’s W-2.

 

2017

 

FICA OASDI (Social Security) up to maximum wage of $127,200 taxed at rate of 6.2% - Maximum withholding on FICA EE OASDI for 2017 is $7,886.40

FICA Medicare for all employees taxed at rate of 1.45%

Additional FICA Employee Medicare rate of 0.90% to be taxed on employees who reach over $200,000 in earnings (Employees in this category will be taxed at a total Medicare Rate of 2.35%)

There is no cap on Medicare Wages.

 

Supplemental Wage Tax Rates for 2017:


Fed Tax up to $1M
Fed Tax above $1M
FICA OASDI up to $127,200
FICA MEDI
FICA MEDI Supplement (above $200,000)
New York State
New York City
Yonkers 

25%
39.60%
6.20%
1.45
0.90%
9.62%
4.25%
1.61135%

 

 



Click here for W-2 Information.

 


 
 

2016

 

FICA OASDI (Social Security) up to maximum wage of $118,500 taxed at rate of 6.2% - Maximum withholding on FICA EE OASDI for 2016 is $7,347

FICA Medicare for all employees taxed at rate of 1.45%

Additional FICA Employee Medicare rate of 0.90% to be taxed on employees who reach over $200,000 in earnings (Employees in this category will be taxed at a total Medicare Rate of 2.35%)

There is no cap on Medicare Wages.

 

Supplemental Wage Tax Rates for 2016:


Fed Tax up to $1M
Fed Tax above $1M
FICA OASDI up to $118,500
FICA MEDI
FICA MEDI Supplement (above $200,000)
New York State
New York City
Yonkers 

25%
39.60%
6.20%
1.45
0.90%
9.62%
4.25%
1.61135%

 

 



Click here for W-2 Information.