2013 FUTA Credit Reductions
Although the U.S. economy has seen improvement in recent years, many employers continue to pay higher unemployment insurance taxes. High numbers of unemployed workers, as well as the extension of unemployment benefits, have contributed to the insolvency of many state unemployment funds. As a result, many states have borrowed money from the federal government to cover the cost of their unemployment programs. Employers in states that have not repaid these federal loans according to established guidelines are required to pay additional unemployment tax through a tax credit reduction.
BenefitMall’s most recent issue of Insights & Innovations provides an in-depth look at 2013 FUTA credit reductions providing an explanation of:
- The Federal Unemployment Tax Act (FUTA)
- How FUTA taxes are calculated
- The FUTA tax credit
- Why some states have a reduction in the FUTA credit
- Which specific states are affected
Download your complimentary copy of Insights & Innovations: 2013 FUTA Credit Reductions today.