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T&C Unemployment Insurance News And Updates – January 10, 2024

LOUSIANA – Tax Rates Announced
Information regarding tax rates for Louisiana employers was announced, showing an increase in rates for most ratio categories. Rates for 2024 will range from 0.09% to 1.96% for positive rated employers, while negative rated employer rates will range from 2.24% to 6.20%. The new employer rate remains based on the average applicable industry rate within the state.

MARYLAND – Tax Rate Decreases
After being taxed under Table C in 2023, Maryland employers will see tax rates assigned based on the lowest available rate table, Table A, for 2024. Rates under Table A will range from 0.30% to 7.50%, with the new employer rate at 2.60%. The rate for new construction employers headquartered in a state other than Maryland will be 3.3%. The standard rate, which is assigned to employers who are eligible for an earned rate but have no taxable wages due to failure to file quarterly wage reports, will be 7.50%.

NEW MEXICO – Tax Rate Changes, Taxable Wage Base Increase
New employer rates are assigned a rate that is the greater of their industry average Unemployment Insurance Contribution rate or 1%. In 2024, rates will range from 1.00% to 1.25%, depending on industry, with a majority falling into the 1.00% category. After two years as an experience rated employer, moved from the new employer categorization, becoming experienced employers whose contribution rates are then set based on their benefit ratio.

The taxable wage base for the state will increase to $31,700, up 5.3% from $30,100 in 2023.

NEVADA – Tax Rates Announced
The Nevada Department of Employment Training and Rehabilitation announced their tax rate schedule for 2024. Rates under the schedule will range from 0.25% to 5.4%. New employers will pay at a rate of 2.95% for 14-17 months, at which time they will become an experience rated employer and will be assigned a rate from the assigned table. An additional .05% tax is charged for the Career Enhancement Program.

WASHINGTON – Tax Rates Remain the Same, Taxable Wage Base Increase
Washington employers will see overall unemployment tax rate categories remain the same. The total rate will include their 2024 experience rate, along with the graduated social cost rate and employment administration fund rate. Qualified Washington employers will see total rates ranging from 0.27% to 6.02%. Meanwhile, delinquent employers will receive a rate from a range of delinquent tax rates with an included delinquency rate. These rates will range from 1.25% to 8.15%. New employers pay 90% of the average rate for all businesses within their industry, set at a minimum rate of 1.00%.

The taxable wage base for the state will increase to $68,500, up 1.3% from $67,600 in 2023.

VIRGIN ISLANDS – Taxable Wage Base, Weekly Benefit Amount Increases
In 2024, the taxable wage base in the Virgin Islands will increase to $31,000, up 2.7% from $30,200 in 2023. Additionally, claimants will see an increase in maximum weekly benefit amount, now $645, up 2.5% from $629 in 2023.

Darby Gibson

Author Darby Gibson

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