Tax Withholdings and Form W-2

Employee Payroll Taxes

Social Security and Medicare Taxes

Social Security and Medicare taxes, collectively known as FICA and withheld per pay period, are calculated on taxable earnings. Taxable earnings are the total salary plus non-wage compensation, reduced by "pre-tax" deductions for dental, health, life insurance, flexible spending dependent care and/or medical account, and health savings account.

  • Social security tax for 2023: The employee tax rate for social security is 6.2% of taxable earnings. The employer tax rate for social security is also 6.2%. The 2023 social security wage base limit is $160,200. (The 2022 social security wage base limit was $147,000.)
  • Medicare tax for 2023: The Medicare tax rate is 1.45% each for employers and employees. An additional tax rate of 0.9% is applied to wages over $200,000. There is no wage base limit for Medicare tax.
  • As a student enrolled in a minimum of six credit hours, taxable earnings are FICA exempt for the semester enrolled during the academic year (fall and spring semesters).

Federal Taxes

Federal taxes withheld per pay period are calculated on taxable earnings. Taxable earnings are the total salary plus non-wage compensation, reduced by "pre-tax" deductions for dental, health, life insurance, flexible spending dependent care and/or medical account, health savings account, and 403b retirement contributions.

The amount of income tax withheld from your regular pay depends on two things:

  • The amount you earn in the pay period.
  • The information you give on your Form W-4.
  • Form W-4 [pdf] includes four types of information that your employer will use to figure your withholding:
    • Step 1: Status of single or married filing separately, married filing jointly or Head of Household.
    • Step 2: Whether you hold multiple jobs or your spouse works.
    • Step 3: Whether you claim dependents.
    • Step 4: Whether you have other income, deductions or want an additional dollar amount withheld.

Note: You must specify a status (step 1) on Form W-4. You cannot specify only an additional dollar amount for withholding.

For more information about Federal taxes or help with calculating your payroll withholdings, go to the IRS Tax Information for Employees webpage.

To view your current Form W-4 payroll withholdings information, go to the Employee Services module of Fish 'R' Net (select Benefits, Deductions and Taxes).

New York State Taxes

New York State taxes withheld per pay period are calculated on taxable earnings. Taxable earnings are the total salary plus non-wage compensation, reduced by "pre-tax" deductions for dental, health, life insurance, flexible spending dependent care and/or medical account, health savings account and 403(b) retirement contributions.

The amount of income tax withheld from your regular pay depends on two things:

  • The amount you earn in the pay period.
  • The information you give on your NY IT-2104 Form.
  • NY IT-2104 Form [pdf] includes three types of information that your employer will use to figure your withholding:
    • Whether to withhold at the higher single rate or the lower married rate.
    • How many withholding allowances you claim. (Each allowance reduces the amount withheld.)
    • Whether you want an additional dollar amount withheld.

Note: You must specify a filing status and a number of withholding allowances on NY IT-2104. You cannot specify only a dollar amount of withholding.

For more information about New York State taxes or help with calculating your payroll withholdings, visit the New York State website.

To view your current NY IT-2104 Form payroll withholdings information, go to the Employee Services module of Fish 'R' Net (select Benefits, Deductions and Taxes).

Student Payroll Taxes

Work study and non-work study earnings are not exempt from federal, state, or local taxes. However, for students enrolled in a minimum of six credit hours during the academic year (fall and spring semesters), work study and non-work study earnings are exempt from Social Security and Medicare taxes (FICA).

New student employees that elect not to complete payroll tax withholding forms (Federal W-4 form and/or a NY IT-2101 form) will automatically be withheld at the single/zero allowances level.

For returning student employees that elect not to complete payroll tax withholding forms with each new academic year, the University will automatically withhold payroll taxes at the Single/Zero level. A new Form W-4 (federal tax form) and/or an IT-2101 (NYS tax form) must be completed to request withholdings other than the Single/Zero level.

Please review your individual tax situation to determine an appropriate withholding status. Links to IRS, New York State and Federal W-4 form and/or NY IT-2101 form are available at the Payroll Department and on our Payroll Documents and Forms page.

See the Student Employment Handbook [pdf], under Employment Paperwork for more information.

About Form W-2

Form W-2 is an information statement used to report wages paid to employees and the taxes withheld from their wages. Employers must complete a Form W-2 for each employee to whom they pay a salary, wage or other compensation as part of the employment relationship. The Form W-2 reports income on a calendar year basis, January 1 through December 31.

Form W-2 of an employee separated from the University will be mailed via the US Postal Service to the permanent mailing address on file with Human Resources (for faculty and staff) or the Registrar's Office (for student employees).

Form W-2 of a currently active employee may be received electronically through Fish 'R' Net, in an IRS approved PDF format, upon consent of the employee. Federal regulations require that employees give their consent to receive the W-2 in an electronic format. Once consent is given it carries forward each year and does not need to be repeated. To consent to receive your Form W-2 electronically follow the instructions in the document W-2 Electronic Consent Instructions [pdf].

Currently active employees that have not given consent will receive their Form W-2 via the US Postal Service. The form will be mailed to the permanent mailing address on file with Human Resources (for faculty and staff) or the Registrar's Office (for student employees). Addresses can be reviewed on Fish 'R' Net, under 'Personal Information.'

Per federal law, Form W-2 must be available electronically (consent required) or mailed no later than January 31.

If you have not received your Form W-2, please contact the Payroll Department.