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July 18, 2024
2024-1401

New York Waterfront Commission announces payroll assessment rate

The New York Waterfront Commission (NWC) announced that the payroll assessment rate for July 1, 2024 to June 30, 2025, is 1.6% and is applicable to quarterly assessments due October 15, 2024; January 15, 2025; April 15, 2025; and July 15, 2025. The maximum payroll assessment allowed under the law is 2.0%.

The Waterfront payroll assessment is paid by employers based on gross payroll payments to longshore workers, hiring agents, pier superintendents and security officers.

Employers submit their payroll assessments along with Form WC-30, Employer's Quarterly Payroll and Assessment Report, based on the gross taxable payroll in the previous quarter. Form WC-30 can be emailed to Audit@Waterfront.ny.gov or mailed together with payroll assessments to:

New York Waterfront Commission
c/o Audit Division
39 Broadway, 4th Floor
New York, NY 10006

Ernst & Young LLP insights

The NWC may audit Form WC-30 for up to the statutory five-year lookback period. Accordingly, employers should retain copies of Forms WC-30, payroll assessment payment records and information supporting the gross taxable payroll reported for the five-year audit period.

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Contact Information

For additional information concerning this Alert, please contact:

Workforce Tax Services - Employment Tax Advisory Services

Published by NTD’s Tax Technical Knowledge Services group; Andrea Ben-Yosef, legal editor
 

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