August 2024 Update

New Jersey – Issued their 2024/2025 Tax Rates on August 15 based on Rate Schedule “D” for this upcoming Fiscal Year.  Rates will range from 0.60% to 6.40%. 

Vermont – Issued their 2024/2025 Tax Rates on June 27 based on Rate Schedule “1” for this upcoming Fiscal Year.  Rates will range from 0.40% to 5.40%. 

We anticipate the remaining “Fiscal Year” states of New Hampshire and Tennessee to issue their tax rates shortly.

2025 Taxable Wage Base Update

5 states have confirmed the 2025 Taxable Wage Base for employers. View our 2025 Taxable Wage Base Chart for list of states.

Upcoming Deadlines:

Voluntary Contribution Deadlines:

New Jersey – September 14th(Received Date)

FUTA UPDATE – 2024

California and New York currently have outstanding FUTA Title XII Loans for 2024. Should the states fail to pay back the loans by November of 2024, employers will have to pay an additional 0.90% on employees reported in these states retroactively to January 1, 2024.

1.    Employers would have until January 31, 2025 to pay the additional 0.90% on employees in these two states. 

2.    The Additional 0.90% would result in an estimated increase of $63 per employee for 2024 (0.90% * $7,000 FUTA Wage Base).

Total FUTA Rate would be 1.50% in these states for 2024. Virgin Islands is 4.80%