top of page

JULY 2022 SUI UPDATE

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


FUTA UPDATE


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.

Recent Posts

See All

January 2025 Update

2025 Tax Rates   – Below is a list of the major states that recently issued their 2025 Tax Rates, bringing the total number to 44 states....

December 2024 Update

2025 Tax Rates   – Below is a list of the major states that recently issued their 2025 Tax Rates, bringing the total number to 24 states....

October 2024 Update

California   – The 2025 Tax Rates are currently available online and are currently being mailed to employers.  The Rate Schedule remains...

Comments


99 Tulip Avenue - Suite 104

Floral Park, NY  11001

347-568-2538

info@valeugroup.com

Follow us

  • s-linkedin
FCRA logo.jpg
gdpr logo.jpg
2022 AICPA SOC Logo_edited.png
TEI Logo.png
shrm logo.png
apa logo.jpg

Copyright© 2024 ValeU Group, Incorporated.  All rights reserved.

bottom of page