The 2021-2022 New York State budget was signed into law on April 19, 2021.
A larger number of withholding allowances means a smaller New York income tax deduction from your paycheck, and a smaller number of allowances means a larger New York income tax deduction from your paycheck. DefinitionĪllowances: A withholding allowance is an exemption that lowers the amount of income tax your employer must deduct from your paycheck. The more allowances you claim, the lower the amount of tax your employer will withhold from your paycheck.
Your employer will use the information you provide on this form-including residency, marital status, and allowances-to withhold these taxes from your pay. Form IT-2104 is completed by you, as an employee, and given to your employer to instruct them how much New York State (and New York City and Yonkers) tax to withhold from your pay and send to the New York State Tax Department on your behalf.
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