State Unemployment Tax Savings – Voluntary Contributions
Due to the continued burden placed on the unemployment system, states have depleted unemployment
trust funds and as of November 8, 2012, twenty (20) jurisdictions currently have outstanding
Title XII loans from the federal government to pay unemployment benefits, with an
additional two (2) states at risk. As a result, states are looking to increase
tax revenues through legislative actions, mandatory increases already built into tax
statutes, and aggressive collection efforts.
However, there are certain unemployment tax planning strategies that can be utilized which
may have a substantial impact on unemployment tax rates. A voluntary contribution
is one of those planning strategies that should be evaluated each year as the states
issue employers their tax rate notices to determine if savings opportunities exist.
see this link for
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