Tax Withholdings and W-2s

Employee Payroll Taxes | Student Payroll Taxes | About W-2 Forms

Employee Payroll Taxes

Social Security & Medicare taxes, collectively known as FICA and withheld per pay period, are calculated on taxable earnings. Taxable earnings are the total salary plus non-wage compensation, reduced by "pre-tax" deductions for dental, health, life insurance, flexible spending dependent care and/or medical account, and pre-taxed RTS transportation.

  • Social security tax for 2014: The employee tax rate for social security is 6.2% of taxable earnings. The employer tax rate for social security is also 6.2%. The 2014 social security wage base limit is $117,000.
  • Medicare tax for 2014: The Medicare tax rate is 1.45% each for employers and employees. An additional tax rate of 0.9% is applied to wages over $200,000. There is no wage base limit for Medicare tax.
  • As a student enrolled in a minimum of 6 credit hours, taxable earnings are FICA exempt for the semester enrolled during the academic year (fall and spring semesters).

Federal taxes withheld per pay period are calculated on taxable earnings. Taxable earnings are the total salary plus non-wage compensation, reduced by "pre-tax" deductions for dental, health, life insurance, flexible spending dependent care and/or medical account, pre-taxed RTS transportation and 403b retirement contributions.

The amount of income tax withheld from your regular pay depends on two things:

  • The amount you earn in the pay period
  • The information you give on your Form W-4
  • Form W-4 [pdf] includes three types of information that your employer will use to figure your withholding
    • Whether to withhold at the higher single rate or the lower married rate
    • How many withholding allowances you claim. (Each allowance reduces the amount withheld)
    • Whether you want an additional dollar amount withheld.

Note: You must specify a filing status and a number of withholding allowances on Form W-4. You cannot specify only a dollar amount of withholding.

For more information about Federal taxes or help with calculating your payroll withholdings go to the IRS Tax Information for Employees webpage.

To view your current Form W-4 payroll withholdings information, go to the Employee Services module of Fish 'R' Net (select Benefits, Deductions and Taxes).

New York State taxes withheld per pay period are calculated on taxable earnings. Taxable earnings are the total salary plus non-wage compensation, reduced by "pre-tax" deductions for dental, health, life insurance, flexible spending dependent care and/or medical account, pre-taxed RTS transportation and 403b retirement contributions.

The amount of income tax withheld from your regular pay depends on two things:

  • The amount you earn in the pay period
  • The information you give on your NY IT-2104 Form
  • NY IT-2104 Form [pdf] includes three types of information that your employer will use to figure your withholding
    • Whether to withhold at the higher single rate or the lower married rate
    • How many withholding allowances you claim. (Each allowance reduces the amount withheld)
    • Whether you want an additional dollar amount withheld.

Note: You must specify a filing status and a number of withholding allowances on NY IT-2104. You cannot specify only a dollar amount of withholding.

For more information about New York State taxes or help with calculating your payroll withholdings, visit the New York State website.

To view your current NY IT-2104 Form payroll withholdings information, go to the Employee Services module of Fish 'R' Net (select Benefits, Deductions and Taxes).

Student Payroll Taxes

Work study and non-work study earnings are not exempt from Federal, State, or local taxes. However, for students enrolled in a minimum of 6 credit hours during the academic year (fall and spring semesters), work study and non-work study earnings are exempt from Social Security and Medicare taxes (FICA).

New student employees that elect not to complete payroll tax withholding forms (Federal W-4 form and/or a NY IT-2101 form) will automatically be withheld at the single/zero allowances level.

Returning student employees that elect not to complete payroll tax withholding forms with each new academic year, St. John Fisher College will automatically withhold payroll taxes at the Single/Zero level. A new Form W-4 (federal tax form) and/or an IT-2101 (NYS tax form) must be completed to request withholdings other than the Single/Zero level.

Please review your individual tax situation to determine an appropriate withholding status. Links to IRS, New York State and Federal W-4 form and/or NY IT-2101 form are available at the Payroll Department and on our Payroll Documents & Forms page.

See the Student Employee Handbook [pdf], under Employment Paperwork for more information.

About W-2 Forms

What is a Form W-2 Wage and Tax Statement?

Form W-2 is an information statement used to report wages paid to employees and the taxes withheld from their wages. Employers must complete a Form W-2 for each employee to whom they pay a salary, wage or other compensation as part of the employment relationship. The Form W-2 reports income on a calendar year basis, January 1 through December 31.

Where are they sent?

Your Form W-2 will be mailed to the permanent mailing address on file with Human Resources (for Faculty and Staff) or the Registrar's Office (for Student Employees). You can view your address information on Employee Services module of Fish 'R' Net under 'Personal Information.'

When are they mailed?

Per federal law, the form must be mailed from St. John Fisher College by January 31st. If you haven't received your W-2, please Contact Us, the Payroll Department.

Fish 'R' NetEmployee Services Module of Fish 'R' Net

View your pay stubs, job history, deduction and benefit costs/history, W4 data, and time-off balances. Need help? Check out our Fish 'R' Net Instructions [pdf].

» Go to Fish 'R' Net

Copyright © St. John Fisher College • 3690 East Avenue, Rochester, New York 14618 • (585) 385-8000
Questions/Comments? - Email the Webmaster Website Terms of Use