NEW YORK – 2025 UNEMPLOYMENT TAX RATES, TAXABLE WAGE BASE ANNOUNCED
2025 tax rates were announced for New York employers, ranging from 2.1% to 9.9%. These total rates include three elements: normal contribution rate, subsidiary contribution rate, and a 0.075% Reemployment Service Fund (RSF) rate. The new employer rate is 4.1%, which also includes the 0.075% RSF rate.
The taxable wage base will also increase to $12,800, up 2.4% from $12,500 in 2024.
RHODE ISLAND – FORWARD THOMAS & COMPANY ANY DOCUMENTS RECEIVED FROM STATE
As a reminder, the state of Rhode Island’s Power of Attorney authorization does not extend to tax documents. This means that documents such as Benefit charge statements, tax notices, etc. will be sent directly to your corporate office and/or locations directly instead of being sent to Thomas & Company.
We ask that you please immediately forward any documents upon receipt to allow Thomas & Company the maximum time to receive, review, and take appropriate action.
US CONGRESS – PANDEMIC UNEMPLOYMENT FRAUD ENFORCEMENT ACT INTRODUCED IN US HOUSE
On February 10, 2025, the Pandemic Unemployment Fraud Enforcement Act (H.R. 1156) was introduced in the House of Representatives and referred to the House committee on Ways and Means for next steps.
Viewed as a “must pass” bill by many, the bipartisan bill would increase the statute of limitations for criminal prosecution and civil enforcement actions in pandemic unemployment programs from 5 to 10 years, extending the current deadline of March 27, 2025. An ongoing effort, this extension would help provide additional time in which to recover billions of dollars for American taxpayers.
Thomas & Company will continue to monitor this bill as it makes its way through the legislative process.
VIRGINIA – PROPOSED BILLS WOULD INCREASE DURATION, WEEKLY BENEFIT AMOUNT FOR ELIGIBLE CLAIMANTS
Two bills have been proposed in the Virginia Senate that would increase unemployment benefits if passed. First, House Bill 1766 would add an additional $100 per week to an eligible individual’s current weekly benefit amount. Weekly benefit amounts for claimants in Virginia currently range from $60 to $378.
Meanwhile, House Bill 1767 proposes a permanent increase in benefit duration. Currently, benefit duration can range from 12 to 26 weeks, depending on an individual’s base period wages. The bill would remove this caveat, providing 26 weeks for all eligible claimants.
Thomas & Company will continue to monitor this bill as it makes its way through the legislative process.
