Nys 742 form 2025

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Form NYS-1, Return of Tax Withheld, must be filed and the total tax withheld paid after each payroll that caused the total accumulated withholding tax to equal or exceed $700. If you withhold less than $700 during a calendar quarter, remit the taxes withheld with your quarterly return, Form NYS-45.
Are pensions or retirement income taxed in New York? Yes, money withdrawn from pensions and 401(k)s, 403(b)s and IRAs are combined and generally taxed as regular income to the same extent theyre taxed at the federal level. Tax rates run from 4 percent to 10.9 percent.
Schedule 1 (Form 1040), Additional Income and Adjustments to Income. USE IF Have additional income, such as unemployment compensation, prize or award money, gambling winnings. Have any deductions to claim, such as student loan interest deduction, self-employment tax, educator expenses.
You can order forms using our automated forms order telephone line: 518-457-5431. Its compatible with TTY equipment through NY Relay (Dial 711) and with Internet and mobile relay services (see Assistance for the hearing and speech impaired for more information).
If you withhold less than $700 during a calendar quarter, remit taxes withheld with your quarterly return, Form NYS-45. See NYS-1 below if you withhold $700 or more during the calendar quarter for additional filing requirements.
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Form NYS-1 is used to remit to New York State the personal income taxes that you have withheld from your employees wages or from certain other payments (for example, pensions).

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