content: SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
  
                                    FORM 8-K
  
                                 CURRENT REPORT
                       PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934
  
                         Date of Report:  October 10, 2000
                        (Date of earliest event reported)
  
                                  PAYCHEX, INC.
             (Exact name of registrant as specified in its charter)
  
          DELAWARE               0-11330                   16-1124166
  (State of incorporation)     (Commission               (IRS Employer
                               File Number)           Identification Number)
  
  911 PANORAMA TRAIL SOUTH, ROCHESTER, NEW YORK            14625-0397
  (Address of principal executive offices)                 (Zip Code)
  
                                  (716)385-6666
              (Registrant's telephone number, including area code)
  
  
  ITEM 5.  OTHER EVENTS
  
  The registrant announced that the Board of Directors declared a 50% increase
  in the company's quarterly dividend from $.06 per share to $.09 per share
  payable November 15, 2000 to shareholders of record November 1, 2000. The
  registrant's press release dated October 10, 2000 is attached.
  
                                   SIGNATURES
  
  Pursuant to the requirements of the Securities Exchange Act of 1934, the
  registrant has duly caused this report to be signed on its behalf by the
  undersigned thereunto duly authorized.
  
                                          PAYCHEX, INC.
  
  Date:     October 10, 2000              /s/ B. Thomas Golisano
                                          -----------------------
                                          B. Thomas Golisano
                                          Chairman, President and
                                          Chief Executive Officer
  
  Date:     October 10, 2000              /s/ John M. Morphy
                                          -----------------------
                                          John M. Morphy
                                          Vice President, Chief
                                          Financial Officer and
                                          Secretary
  
  
  FOR IMMEDIATE RELEASE
  
  	       John M. Morphy, Chief Financial Officer
  	       Paychex, Inc.      716-385-6666
  	          or
  	       Jan Shuler
  	       Paychex, Inc.      716-383-3406
  	       Access Paychex, Inc. News Releases on the WORLD WIDE WEB
  	       http://www.businesswire.com
  
               PAYCHEX ANNOUNCES 50% INCREASE IN QUARTERLY DIVIDEND
  
  ROCHESTER, N.Y., October 10, 2000 - The Board of Directors of Paychex, Inc.
  (NASDAQ-PAYX) has declared a 50% increase in the company's quarterly dividend
  from $.06 per share to $.09 per share payable November 15, 2000 to shareholders
  of record November 1, 2000.
  
  Tom Golisano, Chairman and Chief Executive Officer, commented that the dividend
  increase is a result of continued earnings gains and our strong cash position.
  
  Paychex, Inc. is a national provider of payroll processing, human resource and
  benefits outsourcing solutions for small to medium-sized businesses.  The
  company is a leading U.S. payroll processor with a comprehensive product
  offering including payroll tax returns, direct deposit and other payroll
  services.  The human resource and benefits outsourcing services include a
  professional employer organization ("PEO"), 401(k) recordkeeping, section 125
  cafeteria plans and employee handbooks.
  
  Paychex Inc. was founded in 1971.  Headquartered in Rochester, New York, the
  company has over 100 locations.
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text: SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
  
                                    FORM 8-K
  
                                 CURRENT REPORT
                       PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934
  
                         Date of Report:  October 10, 2000
                        (Date of earliest event reported)
  
                                  PAYCHEX, INC.
             (Exact name of registrant as specified in its charter)
  
          DELAWARE               0-11330                   16-1124166
  (State of incorporation)     (Commission               (IRS Employer
                               File Number)           Identification Number)
  
  911 PANORAMA TRAIL SOUTH, ROCHESTER, NEW YORK            14625-0397
  (Address of principal executive offices)                 (Zip Code)
  
                                  (716)385-6666
              (Registrant's telephone number, including area code)
  
  ITEM 5.  OTHER EVENTS
  
  The registrant announced that the Board of Directors declared a 50% increase
  in the company's quarterly dividend from $.06 per share to $.09 per share
  payable November 15, 2000 to shareholders of record November 1, 2000. The
  registrant's press release dated October 10, 2000 is attached.
  
                                   SIGNATURES
  
  Pursuant to the requirements of the Securities Exchange Act of 1934, the
  registrant has duly caused this report to be signed on its behalf by the
  undersigned thereunto duly authorized.
  
                                          PAYCHEX, INC.
  
  Date:     October 10, 2000              /s/ B. Thomas Golisano
                                          -----------------------
                                          B. Thomas Golisano
                                          Chairman, President and
                                          Chief Executive Officer
  
  Date:     October 10, 2000              /s/ John M. Morphy
                                          -----------------------
                                          John M. Morphy
                                          Vice President, Chief
                                          Financial Officer and
                                          Secretary
  
  FOR IMMEDIATE RELEASE
  
  	       John M. Morphy, Chief Financial Officer
  	       Paychex, Inc.      716-385-6666
  	          or
  	       Jan Shuler
  	       Paychex, Inc.      716-383-3406
  	       Access Paychex, Inc. News Releases on the WORLD WIDE WEB
  	       http://www.businesswire.com
  
               PAYCHEX ANNOUNCES 50% INCREASE IN QUARTERLY DIVIDEND
  
  ROCHESTER, N.Y., October 10, 2000 - The Board of Directors of Paychex, Inc.
  (NASDAQ-PAYX) has declared a 50% increase in the company's quarterly dividend
  from $.06 per share to $.09 per share payable November 15, 2000 to shareholders
  of record November 1, 2000.
  
  Tom Golisano, Chairman and Chief Executive Officer, commented that the dividend
  increase is a result of continued earnings gains and our strong cash position.
  
  Paychex, Inc. is a national provider of payroll processing, human resource and
  benefits outsourcing solutions for small to medium-sized businesses.  The
  company is a leading U.S. payroll processor with a comprehensive product
  offering including payroll tax returns, direct deposit and other payroll
  services.  The human resource and benefits outsourcing services include a
  professional employer organization ("PEO"), 401(k) recordkeeping, section 125
  cafeteria plans and employee handbooks.
  
  Paychex Inc. was founded in 1971.  Headquartered in Rochester, New York, the
  company has over 100 locations.