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
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(Print or Type Responses)
1. Name and Address of Reporting Person *
CANZANO DANIEL A
   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)
Vice President
(Last)
(First)
(Middle)
911 PANORAMA TRAIL SOUTH		 3. Date of Earliest Transaction (Month/Day/Year)
03/31/2006
(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 03/31/2006   M   30,375 A $ 12.0494 30,375 D  
Common Stock 03/31/2006   S   30,375 D $ 41.1285 0 D  
Common Stock 03/31/2006   M   30,375 A $ 11.6297 30,375 D  
Common Stock 03/31/2006   S   30,375 D $ 41.1285 0 D  
Common Stock               24,830.116 (1) I 401(k)
Common Stock ESPP               1,712.851 (2) D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 $ 12.0494 03/31/2006   M     30,375 10/03/1998 10/03/2006 Common Stock 30,375 $ 41.1285 0 D  
Stock Option $ 11.6297 03/31/2006   M     30,375 10/02/1999 10/02/2007 Common Stock 30,375 $ 41.1285 0 D  
Stock Option $ 5.9753             10/05/1997 10/05/2005 Common Stock 0   0 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 13,500   13,500 D  
Stock Option $ 42.688             07/13/2002 07/13/2010 Common Stock 9,000   9,000 D  
Stock Option $ 40.86             07/12/2003 07/12/2011 Common Stock 10,000   10,000 D  
Stock Option $ 28.14             07/11/2004 07/11/2012 Common Stock 8,000   8,000 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 12,500   12,500 D  
Stock Option $ 33.68             07/07/2006 07/07/2015 Common Stock 12,500   12,500 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
CANZANO DANIEL A
911 PANORAMA TRAIL SOUTH
ROCHESTER, NY 14625		       Vice President  

Signatures

 Stephanie Schaeffer, attorney-in-fact   04/03/2006
**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).
(1) 401(K) balance as of April 3, 2006.
(2) ESPP balance as of April 3, 2006.

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