Monthly Archives

August 2020

Iowa Unemployment Tax Rates Hold Steady for 2021

Sources from the Iowa Workforce Development Department indicate that unemployment tax rates for 2021 will remain unchanged.

Effective for 2021, unchanged from 2020, total tax rates for experience-rated employers will range from 0.00% to 7.50%.

Additionally, the total tax rate for new non-construction employers is to be 1.00% and the total tax rate for new construction employers is to be 7.50%.

As always, if there are any questions please do not hesitate to contact us or visit our website at www.thomas-and-company.com.

New Jersey Unemployment & Temporary Disability Taxable Wage Bases to Increase in 2021

Effective Jan. 1, 2021, New Jersey’s unemployment taxable wage base will increase to $36,200, up from $35,300 for 2020.

New Jersey’s temporary disability insurance wage base is also set to increase to $138,200 for 2021. In addition to being used for computing temporary disability insurance tax, New Jersey’s temporary disability insurance wage base is used to compute the family-leave insurance tax for employees.

As always, if there are any questions please do not hesitate to contact us or visit our website at www.thomas-and-company.com.

Tennessee Unemployment Tax Rates Hold Steady for 2020/2021

In a phone call today, sources from the Tennessee Department of Labor & Workforce Development indicated that unemployment tax rates for the one-year period from July 1, 2020 to June 30, 2021 will remain at Premium Table 6.

Tax rates in Tennessee have been at Premium Table 6 since July 1, 2015. This is the lowest table in the Department’s statutes.

Effective July 1, 2020, Tennessee’s experienced-employer unemployment tax rates will range from 0.01 percent to 10.0 percent. The new-employer tax rate will also remain unchanged at 2.70%.

Tennessee is one of four states that generally determines unemployment tax rates on a fiscal-year basis.

As always, if there are any questions please do not hesitate to contact us or visit our website at www.thomas-and-company.com.

South Dakota Unemployment Tax Rates Hold Steady for 2021

The South Dakota Department of Labor & Regulation has confirmed that unemployment tax rates for calendar year 2021 will remain unchanged from the prior year.

Effective January 1, 2021, South Dakota’s experienced-employer unemployment tax rates are to be determined with Schedule B and are to range from 0.00% to 9.30%. Furthermore, employers will also be assessed an investment fee ranging from 0.00% to 0.53%.

The general unemployment tax rate for new employers is to remain at either 1.00% or 1.20% for non-construction employers and 3.00% or 6.00% for construction employer.
Additionally, South Dakota’s unemployment taxable wage base will remain at $15,000 for 2021.

As always, if there are any questions please do not hesitate to contact us or visit our website at www.thomas-and-company.com.