Year End Wrap Up

Here’s a few items that you should consider as the year wraps up and the new year begins:

 

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The information contained in this newsletter is provided for informational purposes only, and should not be construed as tax or legal advice on any subject matter. The Firm provides tax advice and other services only to persons or entities with which it has established a client relationship. No recipients of information from this newsletter, clients or otherwise, should act or refrain from acting on the basis of any information included in this newsletter without seeking appropriate tax, legal or other professional advice on the particular facts and circumstances at issue from an tax professional or attorney licensed in the recipient’s state. The content of this newsletter contains general information and may not reflect current developments. The Firm disclaims all liability in respect to actions taken or not taken based on any or all of the contents of this newsletter.

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States with 2014 Federal Unemployment Tax Act (FUTA) Credit Reductions

The Department of Labor has announced the credit reduction states for 2014.  The NY rate for FUTA will be an additional 1.2%, for a total of 1.8% of the first $7,000 of employee wages.  This equates to an extra $84 in employer paid payroll tax per employee making $7,000 or more in the year.

More information and additional states can be found at:

http://workforcesecurity.doleta.gov/unemploy/data.asp

 

 

 

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