by Candy | Dec 9, 2020 | Business, Featured, Payroll, Taxes
If you are a small business owner, one of the financial requirements you are responsible for undertaking on behalf of your company is the collection and payment of payroll taxes. Payroll taxes, which are a percentage of wages held from employees’ paychecks and paid to...
by Candy | Dec 20, 2016 | Payroll
For 2016 three states and one jurisdiction faced a potential FUTA credit reduction. Two of those states repaid their outstanding advances before Nov. 10th thereby eliminating any FUTA credit reduction. The remaining one state and one jurisdiction had an outstanding...
by Candy | Dec 18, 2015 | Business, Featured, Payroll
The states that must pay additional payroll taxes in the form of FUTA credit reductions have been announced by the Department of Labor. A state is a credit reduction state if it has taken loans from the federal government to meet its state unemployment benefits...
by Candy | Dec 12, 2014 | Featured, News, Payroll
The Department of Labor has announced the states that face FUTA credit reductions for 2014. A state is a credit reduction state if it has taken loans from the federal government to meet its state unemployment benefits liabilities and has not repaid the loans within...
by Candy | Jan 3, 2014 | Payroll
As I wrote about in a prior post which can be accessed here, there are many states which will have an additional tax amount due for federal unemployment tax (FUTA). Although the rate is 6%, states can reduce that amount by 5.4% if paying their state unemployment tax...
