The New Hampshire Employment Security Department announced on July 17th that unemployment tax rates will increase for the third quarter of 2020.
The balance of the state unemployment insurance trust fund fell to less than $250 million for the second quarter, triggering a rise in tax rates, the Department said on its website.
Tax rates for the third quarter range from 0.10% to 2.70% for positive-rated employers and from 4.30% to 8.50% for negative-rated employers. For the second quarter, rates ranged from 0.10% to 1.70% for positive-rated employers and from 3.30% to 7.50% for negative-rated employers.
The tax rate for new employers is 2.70%, up from 1.70%.
Tax rates for positive-rated employers and new employers included a solvency-threshold tax rate reduction of 1.00% for the second quarter but this has now triggered off. A surcharge of 1.50%, which was in effect for the second quarter at 0.50%, is included in tax rates for negative-rated employers.
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