Nypsl-E Tax Code Category (2024)

FAQs

What does NYPSL-E stand for on taxes? ›

Now, more than six years after NYC adopted the original iteration of its paid sick leave law, New York State has enacted its own statewide paid sick leave law (NYPSL), which takes effect on September 30, 2020.

NYPFL in Box 14 of your W-2 should be listed under the category of Other deductible state or local tax when you are entering your W-2 on the federal screen. If you itemize your deductions, this is deductible on Schedule A of your federal tax return.

New York Paid Family Leave premiums will be deducted from each employee's after-tax wages. The paid family leave can be called Family Leave SDI as long as it is a separate item in box 14. State disability needs to be reported separately from the Paid Family Leave in box 14 of Form W-2.

In the drop down box for box 14 of your W-2, report NYSDI as NY Nonoccupational Disability Fund. The payment may be deductible as a state and local tax if you itemize your deductions on Schedule A Itemized Deductions.

NYS Paid Family Leave is handled through an insurance carrier, and that carrier is responsible for paying out any PFL claims. Employees who take advantage of PFL will receive a separate paycheck from the insurance carrier. NYS Paid Sick Leave is managed and paid for by the employer themselves.

Schedule E is used to report rental income and losses, as well as income and losses from partnerships and S corporations. If you own rental property and provide a range of services to tenants or manage your rental properties as your main business activity, you may need to file a Schedule C instead of Schedule E.

Local Services Tax (LST)

Coding CTPL in Box 14 of your W-2 represents funding to support the CT Paid Leave program. Employee payroll deductions beginning January 1, 2022 are capped at 0.5% of the employee's wages up to the 2022 Social Security contribution base of $147,000.00, or $735.00 CTPL taxes paid.

Note: Pursuant to the Department of Tax Notice No. N-17-12 [PDF], Paid Family Leave benefits are taxable. Taxes will not automatically be withheld from benefits, but employees can request voluntary tax withholding.

How does box 14 on W-2 affect taxes? ›

Your contributions shown in Box 14 are not subject to federal income tax, but are subject to FICA (social security and Medicare), state, and local taxes.

Employee contribution rate for NY PFL

Again, New York State Paid Family Leave is fully funded by employees. Although, employers may choose to cover the costs themselves. Employers must deduct NY PFL from employee wages and remit it on behalf of their employees. The 2024 contribution rate for NY family leave is 0.373%.

NYPFL stands for NY Paid Family Leave and is a payroll deduction from the employee's wages. It's not a tax, but it's required.

“Itemized Deductions Include California SDI”

The W-2 Form has Box 14 marked as “Other” where your California State Disability Insurance deduction totals should be listed. Next, you should take out “Schedule A Itemized Deductions” for your Federal 1040 Form and itemize the California SDI deductions.

E = Military TSP contribution (Tax Exempt) *MOST COMMON. F = TIAA/CREF and Fidelity Retirement. G = Pre-tax Transportation Equity Tax.

NY Paid Family Leave (NYPFL)

Description. Leave is due to one's own disability. Examples include: a non-work related injury or illness, or during pregnancy and/or childbirth for the birthing parent.

OASDI/EE is an acronym meaning, “Old Age, Survivors and Disability Insurance/Employee Expense.” It is, however, also known by a much more common name — Social Security. The program began in 1935 with the Social Securities Act and is a wide-reaching program that affects many Americans every year.