![]() ![]() (b) As of March 31, 2021, the highest levels experienced as a result of the COVID-19 Pandemic.Ī 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. (a) As of March 31, 2011, the highest levels experienced as a result of the Great Recession. ![]() * Federal Title XII advance existed prior to COVID-19 crisis and continues to be subject to FUTA credit reductions. Other Jurisdictions: If California, Connecticut, and New York continue to have outstanding Title XII advances as of November 10, 2023, the jurisdictions will be subject to another 0.30% increase in the FUTA tax rate, from 0.90% in 2022 to 1.20% in 2023. ![]() The BCR rate has been waived during all prior years. Virgin Islands: If the Virgin Islands continues to have an outstanding Title XII advance as of November 10, 2023, the jurisdiction will be subject to another 0.30% increase in the FUTA tax rate, from 4.20% in 2022 to 4.50% in 2023. These states did not have outstanding advances on January 1st of two consecutive years so should not be subject to a FUTA credit reduction for 2023. Because of this action, the state should not be subject to a FUTA credit reduction for calendar year 2023, as long as the state does not borrow again and have outstanding advances as of November 10, 2023.Ĭolorado and Pennsylvania: Colorado and Pennsylvania took Title XII advances during the first quarter of 2023. Illinois: On January 25, 2023, the state of Illinois repaid all outstanding Title XII advances. Because of this action, the state should not be subject to a FUTA credit reduction for calendar year 2023, as long as the state does not borrow again and have outstanding advances as of November 10, 2023. On January 25, 2023, the state of Illinois repaid all outstanding Title XII advances. Virgin Islands will have its FUTA tax credit reduced by 3.6% for an effective FUTA tax rate of 4.2%.) As such, the net FUTA tax rate for 2022. The net FUTA tax rate for 2022 will increase by 50% from 0.60% to 0.90% (the U.S. As such, these jurisdictions will be subject to a FUTA credit reduction for 2022. Department of Labor, as of November 10, 2022, announced that (California, Connecticut, Illinois, New York and the Virgin Islands) have had outstanding Title XII advances on January 1 for two consecutive years (20), and on November 10, 2022. 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? FUTA Credit Reductions - 2022īefore addressing SUI tax rates, FUTA tax rates and FUTA credit reductions are top of mind for employers as well. Many states acted quickly in response to the COVID-19 pandemic to help mitigate sizable increases in 2021 SUI tax rates. Filing an amended returnįorm NYS-45-X, Amended Quarterly Combined Withholding, Wage Reporting, and Unemployment Insurance Return, is only available as a paper form.Last updated: (changes since last update on Mawill begin with **NEW**)Ĭheck out the newest information in the Outlook for State Unemployment Insurance (SUI) Tax Rates in 2024 and Beyond If you don't meet the above conditionsĬontinue to paper Form NYS-45, Quarterly Combined Withholding, Wage Reporting, and Unemployment Insurance Return. use a computer to prepare, document, or calculate your tax forms andįor returns due on or after April 30, 2015, if you file by paper and meet the above conditions, you will be subject to penalties.If you are viewing this page on your computer, then you're probably required to use Withholding Tax Web File. Log in to web file Create account E-file mandate To learn how, view our account creation demo.ĭon't forget to check out our resources for withholding tax filers before you file. Log in or create an Online Services account to get started. ![]() If you've already registered with New York State Use Withholding Tax Web File to file your quarterly return.īefore you can file for withholding tax, you must first register as an employer with New York State. Web File is free-no additional software needed Form NYS-45, Quarterly Combined Withholding, Wage Reporting, and Unemployment Insurance Return ![]()
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