Firms in many states will pay higher FUTA taxes for 2012.
The 5.4% credit against FUTA tax is reduced for companies in states that
haven’t repaid loans from the federal jobless fund by November 10th.
Employers in Indiana.
and South Carolina face a 0.9% cut in their FUTA credit. That translates to as much as
$63 extra in tax per employee.
Staring at a 0.6% additional tax of credit of up to $42
more tax per employee are companies in the Virgin Islands and 19 states: Alabama,
Arkansas, California, Connecticut, Florida, Georgia, Illinois, Kentucky, Minnesota, Missouri, Nevada, New Jersey, New York, North Carolihna,
Ohio, Pennsylvania, Rhode Island, Virginia and Wisconsin.
In addition, businesses in Arizona, Colorado, Delaware, Kansas and Vermont
face a 0.3% drop in the credit...an up to $21-per-employee increase. The final
word will be announced in mid-November.
One bit of good news: The 0.2% FUTA surtax that lapsed
last year was not revived.
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