Vermont – Vermont is the 1st of the four fiscal states to begin to issue their 2022/2023 Tax Rates to all employers. The state has moved to the “lowest” rate schedule and rates will range from 0.40% to 5.40%. The Taxable Wage base will decrease from $15,500 to $13,500.

New Hampshire, New Jersey and Tennessee(the other fiscal year tax rate states) will issue their rate notices over the next two months.

2023 Taxable Wage Base Update

6 states have confirmed the 2023 Taxable Wage Base for employers. Five of the states will see increases, with only Vermont lowering their wage base for 2023.

Upcoming Deadlines:

Joint Account Deadlines:

California – December 31 / Hawaii – December 31


Currently 7 states as well as the Virgin Islands have an Outstanding Balance due to borrowing from the Federal Reserves to meet their unemployment benefits liabilities. Those states have until November of 2022 to pay back the loans to avoid an increase of 0.30% to the 2022 FUTA Rate in those states.

The states are CA, CO, CT, IL, MA, NJ*, and NY.

Minnesota and Pennsylvania have paid off their Title XII loans.

*New Jersey has begun borrowing again.

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State Unemployment Update California – Issued 2023 Tax Rates on October 31. Rate schedule remains unchanged, with a minimum rate of 1.50% and a maximum rate of 6.20%. Ohio – Issued 2023 Tax Rates on

New Hampshire – Issued their 2022/2023 Tax Rates on September 2, and since the State Trust Fund has not met the minimum threshold, there will be no reduction for the upcoming quarter. New Jersey – Iss

New York – New York will be issuing an Interest Assessment Surcharge(IAS) to all Employers in order to begin paying of the Title XII Federal Loans that were taken as a result of the COVID-19 Pandemic.