Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein. (EY Payroll Newsflash Vol. This increase will help rebuild the trust fund to the appropriate level. The 2019 employer/employee taxable wage base increases to $34,400, up from $33,700 for calendar year 2018. 2019 Employer Tax Rates. The initial tax rate for new employers is .0270 (2.7%), which is applied to the first $7,000 in wages paid to each employee during a calendar year. Employers will have the following important tax deadlines: Based on the current level of the Pennsylvania SUI trust fund and economic forecasts for the coming year, the following solvency measures are in effect for calendar year 2020: The delinquency rate assigned to delinquent employers is adjusted by the solvency measures applicable to the particular year. All rights reserved. Statutory election can reduce 2020 rates if employers act by December 31, 2019, Ohio employers may be able to lower their SUI rates for 2020 by taking advantage of statutory elections offered by Ohio. New Jersey fiscal year 2019 SUI rates decreased, As we previously reported, employer SUI tax rates range from 0.4% to 5.4% on Rate Schedule B for FY 2019 (July 1, 2018 through June 30, 2019), down from 0.5% to 5.8% on Rate Schedule C for FY 2018 2018 (July 1, 2017 through June 30, 2018). All rights reserved. The 2020 SUI taxable wage base reverts to $9,000, down from $9,500 for 2018 and 2019. Copyright © 1996 – 2020, Ernst & Young LLP. The 2020 SUI taxable wage base reverts to $9,000, down from $9,500 for 2018 and 2019.
The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Employers will be able to access their rate notice information in their UCMS employer portal.
Even more advantageous is the fact that members of a common rate group may dissolve the group after only one year. Employers can potentially reduce their 2020 SUI rate if they take advantage of statutory elections by December 31, 2019. Employer Tax Rates 2018 Employer Tax Rates. If the employer files the necessary wage information by December 31, 2019, the rate will be revised to the appropriate SUI experience rate. Election must be made between January 1 and April 30 of the rate year. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated.
Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein. The Ohio 2020 state unemployment insurance (SUI) tax rates will range from 0.3% to 9.4%, up from the 2019 range of 0.3% to 9.2%. Experience-rated employers may make a voluntary contribution within 30 days of the mailing date on the rate notice.
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