One way to generate more UI tax revenue is to increase the state unemployment taxable wage base. West Virginia and Tennessee have both recently enacted legislation which retroactively increases their wage bases, which is uncommon. Because of the need to shore up the state unemployment trust funds, we anticipate that several more states will increase [...]
Service Bulletins
Anticipated FUTA Tax Increase for Michigan Employers for 2009
June 10th, 2009
This morning I looked at a Service Bulletin we penned in October of last year, barely eight months ago, in which we stated: “Michigan is the only state with an outstanding federal loan (to its state unemployment trust fund) as of today, which is currently over $283 million. However, the timing of the loan was [...]