Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
TUREK WALTER
  2. Issuer Name and Ticker or Trading Symbol
PAYCHEX INC [PAYX]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Sr. Vice President
(Last)
(First)
(Middle)
911 PANORAMA TRAIL S.
3. Date of Earliest Transaction (Month/Day/Year)
01/12/2007
(Street)

ROCHESTER, NY 14625
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 12/22/2006   G V 400 D $ 39.88 303,925 D  
Common Stock 12/22/2006   G V 500 D $ 39.88 303,425 D  
Common Stock 01/12/2007   S   5,700 D $ 41 297,725 D  
Common Stock 01/17/2007   S   114,300 D $ 40.837 183,425 D  
Common Stock               140,082.18 I 401(k)
Common Stock               1,670 I CAJ Fund, LLC

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option $ 11.6297             10/02/1999 10/02/2007 Common Stock 50,625   50,625 D  
Stock Option $ 19             07/09/2000 07/09/2008 Common Stock 20,250   20,250 D  
Stock Option $ 21.4583             07/08/2001 07/08/2009 Common Stock 9,000   9,000 D  
Stock Option $ 40.86             07/12/2003 07/12/2011 Common Stock 20,000   20,000 D  
Stock Option $ 28.14             07/11/2004 07/11/2012 Common Stock 10,000   10,000 D  
Stock Option $ 29.55             07/10/2005 07/10/2013 Common Stock 10,000   10,000 D  
Stock Option $ 31.79             07/08/2006 07/08/2014 Common Stock 25,000   25,000 D  
Stock Option $ 33.68             07/07/2006 07/07/2015 Common Stock 50,000   50,000 D  
Stock Option $ 36.87             07/13/2007 07/13/2016 Common Stock 30,000   30,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
TUREK WALTER
911 PANORAMA TRAIL S.
ROCHESTER, NY 14625
      Sr. Vice President  

Signatures

 Stephanie L. Schaeffer, Attorney-in-fact   01/17/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.