The New Jersey Department of Labor and Workforce Development has confirmed that unemployment tax rates for the one-year period beginning July 1, 2018 are set to decrease.
Effective July 1, 2018, New Jersey’s experienced-employer unemployment tax rates are to be determined with Table B and are to range from 0.40% to 5.40%. The range of rates to take effect July 1 has a lower maximum and minimum than the previous schedule (Table C), where rates ranged from 0.50% to 5.80%.
The general unemployment tax rate for new employers is to remain at 2.80% during this period.
New Jersey 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.
