. . . EXHIBIT 21: SUBSIDIARIES OF THE REGISTRANT SUBSIDIARIES OF PAYCHEX, INC. AS OF MAY 31, 2004
JURISDICTION OF NAME OF SUBSIDIARIES INCORPORATION - -------------------------------------- ---------------- Advantage Payroll Services, Inc. Delaware Business Benefits Administrators, Inc. Massachusetts Paychex Agency, Inc. New York Paychex Business Solutions, Inc. Florida Paychex Deutschland GmbH Germany Paychex Investment Partnership LP (1) Delaware Paychex Management Corp. (2) New York Paychex of New York LLC (2) Delaware Paychex North America Inc. Delaware Paychex Securities Corporation New York Paychex Time & Attendance Inc. Delaware Prime Real Estate LLC Delaware PXC Inc. New York Rapid Payroll, Inc. California
(1) Paychex Investment Partnership LP is 1% owned by Paychex, Inc. and 99% owned by a subsidiary of PXC Inc. (2) Paychex of New York LLC and Paychex Management Corp. are 100% owned by Paychex Investment Partnership LP Certain subsidiaries, which considered in the aggregate as a single subsidiary, that would not constitute a significant subsidiary, per Regulation S-X, Article 1, as of May 31, 2004, have been omitted from this exhibit.