Tax Forms and Information

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MEMORANDUM

To: All Employees

From: Tracey McEachern, Assistant Director, Human Resource Services

Subject: Summary of Tax Withholdings Requirements for 2013

Social Security Tax

The Social Security wage base limit will increase to $117,000 for 2014.
The Social Security tax rate for employees will remain 6.2%. The maximum social security withholding tax employees will pay in 2014 is $7,254.00.

Medicare Tax

Medicare tax rate remains 1.45% with no wage base limit.

New Additional Medicare Tax

Effective January 1, 2013, employees receiving income in excess of $200,000 will be subject to an additional Medicare Tax of 0.9%.
As a result wages in excess of $200,000 will be tax at 2.35% (1.45%+0.9%).

Federal Income Tax

The Federal income tax withholding rates have changed effective January 1, 2014.
Federal tax tables for Non Resident Alien employees increased slightly.
The flat rate for withholding on supplemental wage payments up to and including $1 million will be 25%

NYS Income Tax

The New York State withholding tax tables have been revised for 2013.
The flat rate for withholding on supplemental wage payments will b e 9.62%.

If you have questions regarding this information you may contact:

State Employees: Jean Schaal at (631)-632-1119 or jean.shcaal@stonybrook.edu
Research Foundation: Eileen Harrington (631)-632-6162 or eileen.harrington@stonybrook.edu