While national unemployment rates are set by FUTA, or the Federal Unemployment Tax Act, each state has its own interpretations. SUTA, or the State Unemployment Tax Act, mandates certain requirements with each state setting distinct parameters. Keeping track can be challenging, so check your local state site for the latest updates. You can find your taxable wage bases and the calculation for your tax rates at this link to the DOL site for the 2019 unemployment law updates.
While we can’t list all the 2020 updates for every state’s unemployment laws, we can give an idea of the types of areas that are subject to change that you can monitor.
This is one of the most important numbers to watch. It will affect how much is being taken out of your bottom line, and you want to be aware of how much to expect each year. Simply planning for the same year over year can hurt your overall profits.
The appeal process will vary from state to state, from how they’re made to how they’re conducted. Because of this, you need to stay aware of the changes in your state because it could affect your appeals process, which in turn can cost you more money.
How and when a former employee gets their money is determined by the state. While this doesn’t affect you as an employer, it’s important to know some basics so you can communicate with an employee if needed.
Additional Benefits from States
Each state may offer its own set of additions and disaster relief programs for those who are unemployed. Because you are paying into your unemployment fund, you want to keep up with where that money is going.
Keep Track of Everything with Unemployment Tracker
These are just a few of the unemployment law details that will be different across the states and potentially updated annually. It can be a lot to track, but fortunately, you don’t have to do it alone.
When you partner with Unemployment Tracker, you can experience a higher level of control over the entire unemployment process and have an ally that makes it their job to keep up with everything for you. Start with a live demo today to learn more about our fully customizable full range of solutions.