TALX Tax Intelligence – State Unemployment Tax – Voluntary Contributions – ETS – August 2011
Due to the unprecedented burden placed on the unemployment system,
states have depleted unemployment trust funds and as of August 11, 2011, twenty-eight
(28) states (including the Virgin Islands) are currently taking Title XII loans from
the federal government to pay unemployment benefits, with two (2) additional states
at risk of taking a Title XII loan. As a result, states are looking to increase
tax revenues through legislative actions, mandatory increases already built into tax
statutes and aggressive collections efforts.
However, certain unemployment tax planning strategies can be utilized
which may have a substantial impact on unemployment tax rate reductions.
For more information, please click here:
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