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2016 New York, New Jersey, and Connecticut Payroll Changes

Anchin AlertJanuary 6, 2016

Clarence Kehoe, Partner-in-Charge, Tax Department

2016 New York, New Jersey, and Connecticut Payroll Changes

Happy New Year! It’s time again for payroll updates for the tristate area. Below are payroll related changes to keep in mind for 2016.

Minimum Wage Increases:

After December 31, 2015, New York State’s minimum wage for most employees will be $9.00 an hour. The 2015 hourly minimum wage was $8.75.

New Jersey’s 2016 minimum wage will be $8.59 an hour (2015: $8.38 an hour). In 2017, the minimum wage will increase to $8.78 an hour.

Connecticut’s 2016 minimum wage will be $9.60 an hour (2015: $9.25 an hour). In 2017, the minimum wage will increase to $10.10 an hour.

The Federal minimum wage remains at $7.25 an hour. When the state rate is greater than the federal rate, employers must pay the state rate.

State Unemployment Tax ("SUTA") Wage Bases:

2015 2016
New York $10,500 $10,700
New Jersey $32,000 $32,600
Connecticut $15,000 $15,000


T
he Federal FUTA base will remain at $7,000.

Maximum Compensation subject to Social Security’s 6.2% Old Age, Survivor, and Disability Insurance Tax:

2015 2016
$118,500 $118,500

For more information, contact your Anchin relationship partner or Clarence G. Kehoe, Partner-in-Charge of Anchin’s Tax Department at 212.840.3456.

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