NY MCTMT -Metro locality taxes
We had recently applied these NY Metro locality changes.
Starting from July 2017 they have introduced this Zone1 and Zone 2 Locality taxes for NY. The corresponding values for these localities are P0023 and P0047.
The issue is after the payroll we see is that the sum of Zone 1 + Zone 2 should equal total Med/ER wages but that's not the case. These numbers don't tie but we expect them to. Any ideas why?
Per the NYS website https://www.tax.ny.gov/bus/mctmt/def_ps.htm#pe :
Generally means a covered employee's wages and compensation that are subject to either Social Security or railroad retirement tax, but with no annual cap applied.