{"id":4798,"date":"2017-08-31T10:34:17","date_gmt":"2017-08-31T14:34:17","guid":{"rendered":"https:\/\/gtm.com\/business\/?p=4798"},"modified":"2021-03-27T16:07:39","modified_gmt":"2021-03-27T20:07:39","slug":"tax-implications-new-york-paid-family-leave","status":"publish","type":"post","link":"https:\/\/gtm.com\/business\/tax-implications-new-york-paid-family-leave\/","title":{"rendered":"Tax Implications of New York Paid Family Leave"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-4799\" src=\"https:\/\/gtm.com\/business\/wp-content\/uploads\/iStock-657133790-1024x576.jpg\" alt=\"tax implications of new york paid family leave\" width=\"1024\" height=\"576\" srcset=\"https:\/\/gtm.com\/business\/wp-content\/uploads\/iStock-657133790-1024x576.jpg 1024w, https:\/\/gtm.com\/business\/wp-content\/uploads\/iStock-657133790-300x169.jpg 300w, https:\/\/gtm.com\/business\/wp-content\/uploads\/iStock-657133790-1080x607.jpg 1080w, https:\/\/gtm.com\/business\/wp-content\/uploads\/iStock-657133790.jpg 1366w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>New York State&#8217;s Department of Taxation and Finance released guidance regarding the tax implications of New York Paid Family Leave (PFL), the benefits of which take effect on January 1, 2018. As PFL premiums are funded through employee payroll deductions, the Department has reviewed the tax treatment of these contributions, along with reviewing the tax treatment of the PFL benefit itself.<\/p>\n<p>The Department is providing the following guidance:<\/p>\n<ul>\n<li>Benefits paid to employees will be taxable non-wage income that must be included in federal gross income<\/li>\n<li>Taxes will not automatically be withheld from benefits; employees can request voluntary tax withholding<\/li>\n<li>Premiums will be deducted from employees\u2019 after-tax wages<\/li>\n<li>Employers should report employee contributions on Form W-2 using Box 14 \u2013 State disability insurance taxes withheld<\/li>\n<li>Benefits should be reported by the State Insurance Fund on Form 1099-G and by all other payers on Form 1099-MISC<\/li>\n<\/ul>\n<p><em>Source:\u00a0<a href=\"https:\/\/www.tax.ny.gov\/pdf\/notices\/n17_12.pdf\">https:\/\/www.tax.ny.gov\/pdf\/notices\/n17_12.pdf<\/a><\/em><\/p>\n<p>Employers need to begin preparing for implementation of this new benefit before January 1. Read more about <a href=\"https:\/\/gtm.com\/business\/new-york-paid-family-leave-faqs\/\" target=\"_blank\" rel=\"noopener\">how New York PFL will impact employers<\/a>, and how <a href=\"https:\/\/gtm.com\/business\/using-new-york-paid-family-leave\/\" target=\"_blank\" rel=\"noopener\">employees can use this benefit<\/a>.<\/p>\n<p>Call us at (518) 373-4111 for more information.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tax implications of New York Paid Family Leave have been released by the state&#8217;s Department of Taxation and Finance. Employers need to prepare for this benefit that takes effect January 1, 2018.<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[232],"tags":[6,112,23],"post_folder":[],"class_list":["post-4798","post","type-post","status-publish","format-standard","hentry","category-gtm-biz-blog-isolved","tag-new-york-employers","tag-paid-family-leave","tag-taxes"],"_links":{"self":[{"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/posts\/4798","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/comments?post=4798"}],"version-history":[{"count":1,"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/posts\/4798\/revisions"}],"predecessor-version":[{"id":4800,"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/posts\/4798\/revisions\/4800"}],"wp:attachment":[{"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/media?parent=4798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/categories?post=4798"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/tags?post=4798"},{"taxonomy":"post_folder","embeddable":true,"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/post_folder?post=4798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}