New York law on unemployment taxes takes effect January 1

December 19, 2013 0 COMMENTS

by Colin Leonard and James Rooney

A new law going into effect on January 1, 2014, will increase New York employers’ contributions to the state’s unemployment compensation program.

Earlier this year, legislation was enacted in response to the insolvency of the Unemployment Insurance Trust Fund and the state’s need to repay $3.5 billion borrowed from the federal government to cover increased costs during the recession.

One of the changes involves employer contributions based on the Federal Unemployment Tax Act (FUTA). Under the old law, the employer tax was based on the number of employees and the employer’s experience rating. The tax was assessed on the first $8,500 of each employee’s earnings. Beginning January 1, 2014, the tax will be assessed on the first $10,300 of each employee’s earnings, and the amount will gradually rise each year.

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North Carolina’s unemployment overhaul to take effect July 1

June 10, 2013 0 COMMENTS

by Richard L. Rainey

North Carolina’s law overhauling the state’s unemployment system will take effect July 1, bringing about a small tax increase for many employers and a reduced maximum weekly benefit amount for claimants. It also will change the circumstances in which a claimant is disqualified from benefits.

During the economic recession, the state borrowed more than $2.5 billion from the federal government to cover unemployment payments. The North Carolina General Assembly enacted the new law to pay back the loan as quickly as possible.

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Senate Report Outlines Possible Approaches for Health Care Reform

May 19, 2009 0 COMMENTS

If you or your organization has a keen interest in health care reform, a key Senate committee has opened a short window of opportunity for you to have your say. The Senate Finance Committee released a report on Monday, May 18, outlining possible approaches to financing comprehensive health care reform. The full document is available at http://finance.senate.gov, where you can follow the link at “Latest News.”

Options include (1) realizing savings from the health system, (2) altering current tax treatments for various health-related expenses, and (3) promoting healthy lifestyles by, for example, raising taxes on beverages sweetened with sugar, high-fructose corn syrup, and other sweeteners — but not on artificially sweetened beverages.

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