FLORIDA – Small Business Emergency Bridge Loans Available
Small employers in the impacted areas of Hurricane Ian can apply for a short-term, zero-interest working capital loan through the Florida Department of Economic Opportunity. These loans (up to $50,000) are intended to bridge the gap between the disaster and securing longer term recovery funds. The program is available to businesses in Brevard, Charlotte, Collier, DeSoto, Flagler, Glades, Hardee, Hendry, Highlands, Hillsborough, Lake, Lee, Manatee, Monroe, Orange, Osceola, Pinellas, Polk, Putnam, Sarasota, Seminole, St. Johns, and Volusia counties. Small businesses in the most impacted counties — Charlotte, Collier, DeSoto, Hardee, Lee, and Sarasota — will be escalated and prioritized as they are received. For more information on the guidelines for a loan and how to apply, please visit www.FloridaJobs.org/EBL.
MISSOURI – 2023 Tax Rates, Taxable Wage Base, and New Employer Rates Set
The State of Missouri updated their website this past week to include the 2023 taxable wage base of $10,500 (a decrease of $500 from 2022). Rates in 2023 could range from 0.0% to 6.0%, not including maximum rate surcharge and/or contribution rate adjustment. In addition, they announced that the 2023 new employer tax rate would be set at 2.511% for all employers except Nonprofits which remain at 1.00%.
VIRGINIA– Fraud identified and VEC Took Action to Isolate Impact
The Virginia Employment Commission (VEC) announced last week that they identified about 4,200 claims that had been compromised. VEC took immediate action to isolate these claims, preventing any future activity, and they have been working with law enforcement officials on the matter. Based on the reports, this appears to be an issue where payments were diverted from claimants who had qualified for benefits rather than potential identity theft claims. VEC reports that they have been able to recoup some of the funds and are working with claimants to return the benefit payments for which they qualified. Thomas & Company will continue to monitor the situation in VA for any increase in fraudulent activity.
