Depositing and Reporting Withheld Taxes: New York
Federal law and guidance on this subject should be reviewed together with this section.
Author: Vicki M. Lambert, The Payroll Advisor
- Filing and depositing due dates for New York State (NYS) income tax are based on amounts withheld in prior years. Returns must be filed, and payments must be made, electronically. Employers are required to report their annual total federal gross wages subject to withholding and their annual total amount of NYS income tax withheld for every employee employed during the year. Employers must also report annual wage and withholding information on the final quarterly return. See New York State Income Tax.
- From October 1 through December 1 of each year, an employer has the option to make an annual election to pay the Employer Compensation Expense Tax on the taxable wages of covered employees in the immediately following calendar year. See Employer Compensation Expense Tax.
- Localities including New York City and Yonkers have income tax depositing and reporting requirements. See Local Requirements.