Outlook for SUI Tax Rates in 2023 and Beyond

State unemployment insurance (SUI) tax rates have challenged employers in recent years. Equifax is tracking changes and potential impacts in 2023 and beyond.

Last updated: November 10, 2022 (changes since last update on October 18, 2022 will begin with **NEW**)

Many states acted quickly in response to the COVID-19 pandemic to help mitigate sizable increases in 2021 SUI tax rates. Even with these mitigation efforts, SUI tax rates increased, on average, from 1.72% in 2020 to 1.89% in 2021 to 2.30% in 2022.¹ Now the question becomes, what is the outlook for 2023 SUI tax rates? 

**NEW** 2022 FUTA Credit Reductions

Before addressing the outlook for 2023 SUI tax rates, a more near-term issue facing employers is 2022 FUTA credit reductions. The U.S. Department of Labor, as of November 10, 2022, announced the following five jurisdictions (California, Connecticut, Illinois, New York and the Virgin Islands) have had outstanding Title XII advances on January 1 for two consecutive years (2021 and 2022), and on November 10, 2022, will be subject to a FUTA credit reduction for 2022. As such, the net FUTA tax rate for 2022 will increase by 50% from 0.60% to 0.90%. (The U.S. Virgin Islands will have its FUTA tax credit reduced by 3.6% or an effective FUTA tax rate of 4.2%.)

**NEW**
Advances to State Unemployment Funds
² 
(Title XII of the Social Security Act)

* Federal Title XII advance existed prior to COVID-19 crisis and continues to be subject to FUTA credit reductions.

(a) As of March 31, 2011, the highest levels experienced as a result of the Great Recession.

(b) As of March 31, 2021, the highest levels experienced as a result of the COVID-19 Pandemic.

(c) As of November 10, 2022

 

State Trust Fund Balances

A logical starting point for addressing the outlook for 2023 SUI tax rates is state unemployment trust fund balances, a primary factor in developing SUI tax rates. As such, particular attention should be paid to these balances as an indicator of where rates may be headed in 2023 and beyond.

As depicted in the following graph, net trust fund balances (trust fund balance net of Title XII advances) were negative $39.46 billion at the end of Q1 2011, as a result of the Great Recession, compared to negative $27.12 billion at the end of Q1 2021, as a result of the COVID-19 pandemic (i.e., $12.34 billion more solvent). By June 30, 2022, trust fund balances rebounded and are now a net positive, which is a favorable indicator for 2023 SUI tax rates. ³

 

Historical Net Trust Fund Balances

Net trust fund balances were substantially higher pre-COVID than they were pre-Great Recession. Because of this, net trust fund balances did not reach the negative levels experienced during the Great Recession.

The following graph illustrates net trust fund balances by state as of September 30, 2022.³

**NEW**

Net Trust Fund Balances by State
(descending order by state)


 

Annual Taxable Wage Bases

The depletion of state trust funds can have negative implications not only to future SUI tax rates but also the amount of wages subject to those tax rates. Employers pay SUI tax on wages earned and paid to each employee within a calendar year up to a specified amount, known as the annual taxable wage base. Some states correlate annual taxable wage base adjustments to state trust fund balances.⁴ Over the past 15 years, taxable wage bases have increased by an average of 2.5% annually. During the height of the Great Recession (from 2008 to 2010), the average annual increase was 4.8%. From 2020 to 2021, taxable wage bases increased by an average of 2.9%. From 2021 to 2022, taxable wage bases increased by an average of 3.9%.

The following table provides 2023 annual taxable wage bases by state, as known as of the date of this article:

 

Annual Taxable Wage Bases (2022 and 2023)

(1) The higher wage base only applies to employers assigned the maximum rate.
A - Actual wage base, assuming no law change.
E - Our best estimated wage base, assuming no law change.

 

Correlation of State Trust Fund Balances to SUI Tax Rates

As state trust funds are depleted during a period of high or increased levels of unemployment, SUI tax rates have historically increased as well. However, the correlation is not immediate. There is typically a lag between when economic downturns impact SUI tax rates. This is because rating calculations typically take into consideration more than just a single year of experience and look back to historical experience in the development of rates. And since rates are issued annually, a full year can pass before rates are next adjusted.

 

As illustrated in the below graph, as net trust fund balances began to decline in 2009 as a result of the Great Recession, the average SUI tax rate in the US did not hit its peak until 2012. After that peak, average rates declined for eight consecutive years through 2020. From 2020 to 2021, the average SUI tax rate increased from 1.72% to 1.92% (an 11.6% increase). From 2021 to 2022, the average SUI tax rate increased from 1.92% to 2.30% (a 19.8% increase).

 

Correlation of Historical Average SUI Tax Rates to Net Trust Fund Balances⁵

State Actions Potentially Impacting 2023 SUI Tax Rates

The following contains examples of actions taken by states that could impact 2023 and future SUI tax rates:

 

California AB 178

The bill earmarks $250 million from the General Fund to the Employment Development Department (EDD) to pay towards an outstanding balance of advances under Title XII of the Social Security Act (SSA) for unemployment benefit claims during the COVID-19 pandemic. The bill also notes that the legislature intends to appropriate $500 million in the 2024 budget bill to provide relief to small businesses as result of anticipated tax rate increases due to the FUTA credit reduction.

 

Colorado SB 20-207 

The legislation incrementally increases Colorado's unemployment taxable wage base to $30,600 by calendar year 2026. The wage base will increase to $20,400 in 2023 (from $17,000 in 2022), $23,800 in 2024, $27,200 in 2025, and $30,600 in 2026. Each year thereafter, the wage base will be adjusted by the change in average weekly earnings. 

 

Colorado SB 22-234 

The law amends Colorado's unemployment law to extend the hold on an employer's solvency surcharge through calendar year 2023. 

 

Connecticut HB 6633 

The law increases the unemployment taxable wage base from $15,000 to $25,000, beginning January 1, 2024. Each year thereafter, the wage base will be indexed for inflation. The bill also expands the range of experienced unemployment tax rates from 0.1% to 10%, beginning January 1, 2024. Other provisions that will take effect on January 1, 2024 include: not charging employers for unemployment benefits claimed through the state's shared work program during periods of high unemployment and capping the fund solvency tax at 1.0%. During a period of economic recession, the maximum solvency tax rate will be reduced to 0.5%, according to the bill. Beginning January 1, 2022, the legislation will require the Connecticut Department of Labor to adjust the benefit ratio for each employer in an industry sector (based on the North American Industry Classification System) downward by 50% of the average increase in that sector if the average benefit ratio for all employers within that sector increases over the prior calendar year's average by 0.01 or greater. In addition, the legislation temporarily changes the lookback period for determining an employer's unemployment experience rating. The lookback period has historically been three consecutive years preceding the computation date. For 2026, the lookback period will be one year. For 2027, the lookback period will be two years.

**NEW** Connecticut Public Act 22-118

Sec. 211 of Public Act 22-118 was passed to reduce rates to all contributory employers by 0.2% in 2023.  The law reduces the New Employer Rate by 0.2% and caps the Fund Tax Rate at 1.2% (from 1.4%).  This is only in effect for the 2023 rate year.

 

Florida SB 50 

The legislation changes how Florida’s UI tax rate is computed for rates effective 2022 through 2025.

Tax rates effective January 1, 2022, will exclude charges from the second, third and fourth quarters of 2020 and all benefit charges paid as a direct result of a government order to close or reduce capacity of a business due to COVID-19, as determined by the Department of Economic Opportunity. The tax rate calculation will also exclude the application of the positive adjustment factor (trust fund trigger). Lastly, benefit charges from the first and second quarters of 2021 may be decreased if the Office of Economic and Demographic Research (EDR) estimates total tax collection for rate year 2022 will exceed $475.5 million. Since EDR has until January 1, 2022, to advise the Department whether to decrease benefit charges, the Department has until March 1, 2022, to post rates for the 2022 calendar year.

Tax rates effective January 1, 2023 through December 31, 2025, will exclude charges from the second, third and fourth quarters of 2020 and all benefit charges paid as a direct result of a government order to close or reduce capacity of a business due to COVID-19, as determined by the Department of Economic Opportunity. The tax rate calculation will also exclude the application of the positive adjustment factor (trust fund trigger). Lastly, benefit charges from the first and second quarters of 2021 may be decreased if EDR estimates total tax collection for rate year 2022 will exceed $475.5 million. These changes to the tax rate calculation are repealed if the trust fund reaches $4,071,519,600 on June 1.

The new legislation required the state to make three deposits during 2021 to the UI trust fund. The funding comes from online sales tax collected from out-of-state e-commerce companies. In addition, beginning July 2022, and on or before the 25th day of each of the following months, the Florida Department of Revenue will distribute $90 million monthly to the state's UI trust fund. The Department is required to end monthly distributions when the Department of Revenue receives certification from EDR that the ending balance of the UI trust fund exceeds $4,071,519,600 or on December 31, 2025, whichever is earlier.

 

Hawaii HB 2471

Hawaii’s Employment Security Law, as it relates to the adequate reserve fund, has been amended. Effective for the calendar years 2023 through 2030, "adequate reserve fund" means an amount that is equal to the amount derived by multiplying the benefit cost rate that is the highest during the 10-year period ending on November 30 of each year by the total remuneration paid by all employers, with respect to all employment for which contributions are payable during the last four calendar quarters ending on June 30 of the same year, as reported on contribution reports filed on or before October 31 of the same year, but does not include the benefit cost rate from June 2020 through August 2021.

 

Idaho HB H0450

The bill freezes unemployment tax rates at 2021 levels for the 2022 and 2023 tax years.

 

Illinois HB 4450

The Illinois Unemployment Insurance Act includes the following sections relating to 2023 rate computation factors: 

  • Section 1505 D-3: The adjusted state experience factor for calendar year 2023 shall be increased by 16% absolute above the adjusted state experience factor as calculated without regard to this subsection. The increase in the adjusted state experience factor for calendar year 2023 pursuant to this subsection shall not be counted for purposes of applying paragraph 3 or 4 of subsection D to the calculation of the adjusted state experience factor for calendar year 2024.

  • Section 1506.6: For each employer whose contribution rate for calendar year 2023 is determined pursuant to Section 1500 or 1506.1, in addition to the contribution rate established pursuant to Section 1506.3, an additional surcharge of 0.325% shall be added to the contribution rate. The surcharge established by this Section shall be due at the same time as other contributions with respect to the quarter are due, as provided in Section 1400. Payments attributable to the surcharge established pursuant to this Section shall be contributions and deposited into the clearing account.

 

Indiana HB 1111

The law creates a new tax rate Schedule C (former Schedule E) which is to remain in effect through 2025. The rates range from 0.50% to 7.40%. 

 

Iowa Announcement Relating to 2023 Unemployment Tax Rates and Wage Base

On August 24, 2022, Iowa Workforce Development (IWD) announced that the unemployment tax rate schedule used to determine employer rates will be at the lowest level in 24 years in 2023. State law requires the IWD to establish an annual unemployment tax rate table. There is a trigger for determining which rate table will be in effect that is mainly based on the state's unemployment trust fund, benefit history and covered wage growth. For the past five years, unemployment tax rates have been determined from Table 7. This is the second lowest rate table. In 2023, rates will be determined under Table 8, which is the lowest rate table. Rates under Table 8 range from 0% to 7%. Rates under table 7 range from 0% to 7.5%. The unemployment taxable wage base will increase from $34,800 to $36,100 in 2023. 

 

**NEW** Kentucky Announcement Relating to 2023 Unemployment Tax Rates and Wage Base

Schedule A will be in use for tax year 2023. Under this schedule, positively rated employers will pay unemployment tax rates from 0.30% to 2.4%, and negatively rated employers will pay unemployment tax rates from 6.50% to 9.00%. The taxable wage base has increased from $10,800 to $11,100 for tax year 2023. Contribution rate notices for contributory employers will be mailed out in early December.

 

Louisiana HB 192

The legislation freezes the state's unemployment taxable wage base at $7,700 in 2023. State law requires the unemployment wage base to increase based on the balance in the unemployment trust fund.

 

Maryland SB 811

The legislation sets the unemployment tax rates for 2022 and 2023 to be determined under Table C, rather than Table F, as they were for tax year 2021. Tax rates under Table C range from 1.0% to 10.5%, whereas tax rates under Table F range from 2.2% to 13.5%. The bill addresses the shortfall in the unemployment trust fund by allocating qualified federal funds to the state unemployment trust fund to buttress the solvency level.

 

Minnesota SB 2677

The law reduces the amount of unemployment tax and assessments a taxpaying employer will owe in 2022 and 2023. The legislation changes the 2022 and 2023 base rate from 0.50% to 0.10%, the 2022 and 2023 additional assessment from 14.00% to 0.00%, and the 2022 special assessment (federal interest loan assessment) from 1.80% to 0%.

 

Mississippi SB 3051 

The act provides that the general experience rate for 2021 shall be 0%; provides that charges attributed to each employer's individual experience rate for the period March 8, 2020, through June 30, 2020, will not impact the employer's individual experience rate calculations for purposes of calculating the total unemployment insurance rate for 2021 and the two subsequent tax rate years; provides that charges attributed to each employer's individual experience rate for the period July 1, 2020 through December 31, 2020, will not impact the employer's individual experience rate calculations for purposes of calculating the total unemployment insurance rate for 2022 and the two subsequent tax rate years.

 

Missouri Announcement Relating to 2023 Unemployment Tax Rates and Wage Base

An employer’s experience rate is based on a ratio arrived at by dividing an employer's account balance by its average annual taxable payroll. Rates in 2023 could range from 0.0% to 6.0%, not including maximum rate surcharge and/or contribution rate adjustment. Rates for employers participating in the Shared Work Program could range from 0.0% to 9.0%, also not including maximum rate surcharge and/or contribution rate adjustment. The new employer rate for nonprofit employers is 1.0% and the new employer rate for mining, construction, and all other employers is 2.511% for 2023. The taxable wage base decreases from $11,000 in 2022 to $10,500 in 2023.

 

Nevada Announcement Relating to 2023 Taxable Wage Base

Nevada has announced that, effective January 1, 2023, the taxable wage base will increase to $40,100 ($36,600 in 2022).

 

New Hampshire (fiscal year jurisdiction) Announcement Relating to 2022/2023 Unemployment Tax Rates and Wage Base

New Hampshire 2022/2023 SUI tax rates were issued on September 2, 2022. The rate tables remained the same (rates range from 0.1% to 8.5%), the rate reduction remained 0.00% and the Inverse Rate Surcharge of 1.5% remained added to negative balanced employers. The Emergency Power Surcharge of 0.5% is not currently in effect. The assigned rates are currently only effective for the third quarter of 2022. The 2023 taxable wage base remains $14,000.

** NEW ** As a response to New Hampshire’s strong unemployment trust fund, New Hampshire businesses will receive a 30% tax rate reduction for the fourth quarter of 2022.  The tax rate reduction is triggered by state law when the fund maintains a balance of $250 million or more for an entire calendar quarter. Despite an unprecedented surge in benefit payments provided during 2020 and 2021, New Hampshire’s unemployment trust fund is above pre-pandemic levels and is now back over $300 million.   According to the state’s unemployment insurance tax rate chart, the fourth-quarter solvency-threshold tax rate reduction for positive-rated experienced employers will be 0.5%, and the surcharge for negative-rated experienced employers will decrease to 1% from 1.5%. Including the aforementioned rate reduction, unemployment tax rates for positive-rated experienced employers will range from 0.1% to 2.1%. Rates for negative-rated experienced employers will range from 3.8% to 8%. The unemployment tax rate for new employers will be 2.2% for the fourth quarter of 2022.

 

New Jersey (fiscal year jurisdiction) Bill A-4853/S-301

The bill aims to assist employers affected by COVID-19. Specifically, the bill will assign the following unemployment tax rate tables through fiscal year 2024:

  • Table C (rates range from 0.5% to 5.8%) for fiscal year 2022 (from July 1, 2021 through June 30, 2022); 

  • Table D (rates range from 0.6% to 6.4%) for fiscal year 2023 (from July 1, 2022 through June 30, 2023), unless calculations call for a lesser table to be in effect; and 

  • Table E (rates range from 1.2% to 7.0%) for fiscal year 2024 (July 1, 2023 through June 30, 2024), unless calculations call for a lesser table to be in effect. 

 

New York SB 6791A (proposed)

Proposed legislation (SB 6791A), passed by the New York Senate, provides the employer contribution rates for the 2022 and 2023 fiscal years for the unemployment insurance (UI) program will not increase regardless of the current size of the fund index. The bill was proposed because, statutorily, employer rates would increase without legislative intervention due to the increase in unemployment from the COVID-19 pandemic. The bill would effectively delay two years of rate increases. For the 2022 fiscal year, the contribution rate would be determined by the size of the index column headed at 2.5% but less than 3%. For the 2023 fiscal year, the statutory employer contribution rate would be determined by the size of the index column headed at 2% but less than 2.5%. If the actual size of the index fund column results in a lower overall rate, the provisions would not apply. The rates would be impacted by the employer's negative or positive account percentage. The bill is currently being reviewed by the Assembly.

 

Oklahoma Announcement Relating to 2023 Unemployment Tax Rates and Wage Base

Oklahoma 2023 SUI tax rates were issued on September 30, 2022. The state experience factor, conditional factor and technology fund assessment will remain the same in 2023 as it was in 2022. These 2023 rates will not be available on the state’s tax portal until January 1, 2023. The 2023 wage base will increase from $24,800 in 2022 to $25,700 in 2023. 

 

Oregon HB 3389

The legislation modifies requirements regarding the calculation and payment of unemployment insurance taxes to provide employers immediate and long-term relief. The legislation: 

  1. Provides that the experience rating used to determine an employer’s 2020 tax rate will also be used in 2022, 2023, and 2024;

  2. Reduces fund adequacy percentages used to determine tax rate schedules; and

  3. Extends from 10 years to 20 years the look-back period used to determine Unemployment Compensation Trust Fund solvency level and provides that 2020 and 2021 are not included in the 20-year look-back period.

 

Rhode Island HB 7123

The bill contains a provision that appropriates $100 million to the state's unemployment trust fund to reduce unemployment tax rates in 2023. Specifically, the language in the bill instructs the Rhode Island Director of Labor and Training to allocate the appropriations to the employment security fund prior to determining the experience rate for each eligible employer for calendar year 2023. Like in several other states, unemployment tax rates and schedules may be determined based on the balance in the unemployment trust fund. In Rhode Island, a series of nine experience rating schedules have been set by law under which employer rates can range from a low of 0.6% in Schedule A to a high of 10.0% in Schedule I. For tax year 2022, unemployment tax rates were determined under Schedule H.

**NEW** South Dakota Announcement Relating to 2023 Unemployment Tax Rates and Wage Base

The state has announced that there will be no changes to the unemployment tax rate schedules for 2023. Experienced employer unemployment tax rates will continue to be determined under Schedule B. Rates range from 0% to 9.3%, including an investment fee that ranges from 0% to 0.55% depending on an employer's reserve ratio. Experienced employers with a reserve ratio of less than 2.25% must also pay a 0.02% administrative fee on wages. New non-construction employer rate for the first year of business is 1.2%, and 1% for the second and third years of business. New construction employers in their first year of business will pay 6.0%. New construction employers in their second and third year of business will pay 3.0%. If a new employer has a negative account balance after their first year they may remain at the 1.2% and 6.0% rates respectively. The new employer rates include a 0.55% investment fee. The 2023 taxable wage base will remain at $15,000.

 

Tennessee (fiscal year jurisdiction) Announcement Relating to Second Half of 2022 Tax Rates

Effective July 1, 2022 through December 31, 2022, Premium Rate Table 6 remains in effect. Employer rates range from 0.01% to 2.3% for positive-balance employers and from 5.0% to 10.0% for negative-balance employers. 

The employer SUI tax-rate schedule continues to be the lowest possible for fiscal year 2023 (July 1, 2022, to June 30, 2023). Because the SUI trust fund balance exceeded $1 billion as of June 30, 2022, SUI tax rates for experience-rated employers will continue to range from 0.01% to 10.0% on Premium Rate Table 6. Note that though SUI tax rate notices are issued on an annual fiscal-year basis, the SUI tax-rate schedule may change as of January 1, 2023, increasing SUI tax rates for the first and second quarters of 2023, if the level of the state's UI trust fund balance falls below $1 billion as of December 31, 2022.

Employers continue to pay SUI taxes on a taxable wage base of $7,000 for tax year 2022. The 2023 wage base will be based on the UI trust fund balance as of December 31, 2022. If the UI trust fund balance continues to exceed $1 billion at that time, the taxable wage base will remain at $7,000 for calendar year 2023.

By February 1 of each year, the Department must report to the state legislature the UI trust fund balance as of the prior December 31, for purposes of determining the SUI taxable wage base for the calendar year. If the UI trust fund balance on December 31 of any year is less than $900 million, the taxable wage base is $9,000. If the trust fund balance is above $900 million, but less than $1 billion on December 31, the taxable wage base is $8,000. If the trust fund balance exceeds $1 billion on December 31, the taxable wage base is $7,000.

 

Utah HB 2002

The bill sets limits on the social contribution rate and reserve factor for the next three years. For calendar year 2022 only, if the calculation of the social contribution rate under Subsection (2)(A) is greater than 0.003, the social contribution rate for that calendar year is 0.003. For calendar years 2023 and 2024 only, if the calculation of the social contribution rate under Subsection (2)(a) is greater than 0.004, the social contribution rate for that calendar year is 0.004. For calendar year 2022 only, the division may not set the reserve factor to be more than 1.1500; and for calendar years 2023 and 2024 only, the division may not set the reserve factor to be more than 1.2000.

 

Vermont (fiscal year jurisdiction) Announcement Relating to 2022/2023 Unemployment Tax Rates and Wage Base

Effective July 1, 2022, the Vermont contribution rate schedule for employers will move from Schedule III to Schedule I. Rates under Schedule I range from 0.4% for Rate Class 0 to 5.4% for Rate Class 20. In addition, the taxable wage base will decrease from $15,500 in 2022 to $13,500 in 2023.

 

Washington State SB 5061

The legislation has a number of provisions designed to provide unemployment tax relief to employers. The legislation sets the maximum social tax as follows: (1) 0.50% for 2021; (2) 0.75% for 2022; (3) 0.80% for 2023; (4) 0.85% for 2024; and (5) 0.90% for 2025 and suspends the solvency surcharge for 2021 to 2025. From February 8, 2021 until May 31, 2026, the 10% Voluntary Contribution Program (VCP) surcharge is not charged and the VCP payment deadline is extended to March 31. The minimum amount of a voluntary contribution must result in a recomputed benefit ratio at least two rate classes lower than the original rate class; and only employers who have moved up at least eight rate classes may use the program. 

 

Washington State Announcement Relating to 2023 Wage Base

The Washington Employment Security Department has announced that the taxable wage base for unemployment tax purposes will increase from $62,500 in 2022 to $67,600 in 2023.

 

Wisconsin AB 406

The legislation locks unemployment tax rate Schedule D in effect through 2023. Contribution rates, including a solvency surcharge, for Schedule D range from 0% to 12% for employers with payroll under $500,000, and from 0.05% to 12% for employers with payroll of $500,000 or more. Schedule D is the lowest contribution rate schedule. Typically, the unemployment tax rate schedule depends on the level of the state's unemployment trust fund. This bill requires Schedule D be in effect regardless of the trust fund level as of June 30, 2021 and June 30, 2022. However, the bill provides that it applies only if the 2021-23 budget bill, as enacted, provides for transfers of $60,000,000 in each of fiscal years 2021-22 and 2022-23.

 

Conclusion

The COVID-19 pandemic caused a depletion of state unemployment trust funds used to pay unemployment benefits, prompting many states to take action to mitigate potential increases in tax rates. While it is prudent for employers to be aware of the direction of future SUI tax rates, it is more important than ever for employers to take their own actions to help mitigate future increases by: 

  • Diligently adjudicating unemployment claims

  • Auditing benefit charges and timely appealing those that appear improper 

  • Ensuring all quarterly contribution and wage reports are filed timely

  • Identifying and reconciling any outstanding liabilities on state unemployment accounts  

  • Utilizing available state-specific rating strategies to lower SUI tax rates (e.g., voluntary contributions, joint account formation, negative write-off payments, payroll variation elections, etc.) 

Even after rates have been calculated and assigned, there are actions that employers can take to help reduce 2023 SUI tax rates. Visit the Equifax blog titled: Planning Strategies to Help Reduce SUI Tax Burdens in 2023 and Beyond for additional insights.

To keep up-to-date, please visit our Employer Unemployment Insurance Resource Center. The site includes a 2023 Tax Guide intended to assist employers in identifying potential risks associated with increases in SUI tax costs from 2022 to 2023 (e.g., changes in minimum and maximum SUI tax rates, changes in wage bases, etc.)

Please reach out to your Equifax representative to help address potential risks associated with the current unemployment landscape. Not a current client? Please feel free to contact our Employment Tax Consulting Group with any questions.

 


Footnotes:

  1. Per Average Employer Contribution Rates by State issued by the U.S. Department of Labor. 

  2. Per data obtained from the FiscalData (an official website jointly created by the U.S. Department of the Treasury and the Bureau of the Fiscal Service).

  3. Per respective Unemployment Insurance Data Summary reports published by the U.S. Department of Labor and TreasuryDirect (an official website of the U.S. Department of Treasury).

  4. Per Comparison of State Unemployment Insurance Laws issued by the U.S. Department of Labor, Employment and Training Administration.

  5. Per Average Employer Contribution Rates by State issued by the U.S. Department of Labor.  Net Trust Fund Balances per respective Unemployment Insurance Data Summary reports published by the U.S. Department of Labor.


The information provided is intended as general guidance and is not intended to convey any tax, benefits, or legal advice. For information pertaining to your company and its specific facts and needs, please consult your own tax advisor or legal counsel. Links to sources may be to third party sites. We have no control over and assume no responsibility for the content, privacy policies or practices of any third party sites or services.

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