Menu
  1. Home
  2. Producers
  3. Employers
  4. Members
  5. About
  6. News
  7. Blog
  8. Contact
28 August 2017

NY Paid Family Leave Taxation Guidance Released

  • 28 August 2017
  • Author: Anupam Garg
  • Number of views: 1206
  • 0 Comments
NY Paid Family Leave Taxation Guidance Released

On August 25, 2017 the New York State Department of Taxation and Finance (DFS) released highly anticipated guidance regarding taxation of PFL benefits and premium in Notice N-17-12. Here are the key points:

  • Benefits:
    • Benefits paid to employees will be taxable non-wage income that must be included in federal gross income
    • Taxes will not automatically be withheld from benefits
    • Employees can request voluntary tax withholding
    • Benefits should be reported by the State Insurance Fund on Form 1099-G and by all other payers on Form 1099-MISC
       
  • Premiums:
    • The premiums will be post-tax, i.e., deducted from an employee’s after-tax wages
    • Employers should report employee contributions on Form W-2 (Box 14: State disability insurance taxes withheld)

 

PFL: Download the official DFS notice here!

 

This blog post is for informational purposes only and is not intended to provide legal counsel. Please consult with an appropriate professional for legal and compliance advice. Any PFL information is as of the blog post’s date stamp; it is based on the applicable statutes and regulation,  and may change as regulations evolve or NY State issues guidance regarding Paid Family Leave regulations. Have more questions? Email us at pflquestions@shelterpoint.com

Print

Categories

Tags

«March 2024»
MonTueWedThuFriSatSun
26272829123
45678910
11121314151617
18192021222324
25262728293031
1234567
Legal

Terms of Use
Jurisdictional Notice
All Terms & Notices
Website Accessibility

Contact

Contact Overview
Customer Support
Site map

About

About ShelterPoint
Company News