The New Jersey Department of Labor and Workforce Development has confirmed that unemployment tax rates for the one-year period beginning July 1, 2020 will remain the same as the prior period.
Effective July 1, 2020, 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 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 or visit our website at www.thomas-and-company.com.
