Navigation Links
HR Strategies Informs of FUTA Tax Changes - Bringing Increases
Date:1/14/2013

(PRWEB) January 14, 2013

Over the last several years unemployment claims have been on the rise. As a result, many states have depleted their Unemployment Insurance (UI) Trust Funds and have had to take Federal Unemployment Trust Fund loans in order to pay the residents of their states UI benefits.

The Federal Unemployment Tax Act (FUTA) levies a federal tax on employers covered by a state’s UI program, with the standard being 6.0% on the first $7,000 of wages subject to FUTA. Generally, employers then receive a credit of 5.4% when they file their Form 940, resulting in a net FUTA tax rate of 0.6% (6.0%-5.4%=.6%).

The FUTA tax creates the Federal Unemployment Trust Fund, administered by the United States Department of Labor. When states deplete their own UI Trust Funds due to high unemployment they must then borrow from the Federal Unemployment Trust Fund. As with any “loan”, these funds must be repaid.

Georgia has relied on a federal loan to pay regular Unemployment Insurance (UI) benefits for more than two straight years. All employers in the state of Georgia will now see an increase in their FUTA taxes filed on Form 940 in January 2013 for wages paid to their workers in 2012. The total .6% reduction of credit on the FUTA rate will result in a total net FUTA tax rate of 1.2% [5.4% credit - .6% credit reduction= 4.8% credit; thus 6.0% FUTA tax – 4.8% credit = 1.2% total FUTA rate after credit rather than the traditional .6%] thus resulting in an additional $42 being paid in FUTA taxes per employee, with the total amount jumping up from $42 to $84 . The .3% increase may continue per year until the loans by the state are repaid to the Federal Government.
Georgia is not the only state with the outstanding loans and FUTA tax credit reductions to repay loans.

As a client of HR Strategies, what does this mean for you? '/>"/>

Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Page: 1 2

Related medicine news :

1. Netmark Divulges Their Link Building Strategies
2. Flooding preparedness needs to include infection prevention and control strategies
3. Expert suggests tried-and-true strategies to strengthen your relationship
4. His Holiness Paramahamsa Nithyananda Announces Yogic Strategies for Health
5. UV-Aid Cold and Flu Prevention Added to List of Biomimicry Strategies on AskNature.Org
6. HR Strategies Holds Flexible Spending Account and Voluntary Benefit Open Enrollment
7. New stem cell research, transplant strategies show promise to improve outcomes, reduce complications
8. Longer life expectancy, aging population necessitate new strategies for prostate cancer care
9. Researchers outline effective strategies to prevent teen depression and suicide
10. RSV study shows potential for vaccine strategies to protect babies
11. Novel treatment strategies for epilepsy
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/18/2015)... Carinsurancequotesinfo.com has released a new blog post explaining ... caused by a car accident. , Car insurance ... A policy can pay for car repairs and even ... carry appropriate coverage when they are driving. ... several important riders that offer extra coverage options. One ...
(Date:4/18/2015)... 2015 "I wanted to live ... a healthful juice that contained essential vitamins, minerals ... "It increases my energy, improves skin elasticity and ... developed Tapp's Juice to contain fruits, vegetables and ... physical and mental fatigue. It features a great ...
(Date:4/18/2015)... Lower-auto-insurance.com has released a new blog ... insurance quotes . , Drivers can find accurate ... A professional insurance brokerage website can help drivers compare ... simple, convenient way. The whole process is designed to ... Comparing online car insurance quotes is advantageous because it ...
(Date:4/18/2015)... More than 2000 styles of newly designed ... #1 online store carrying celebrity inspired special occasion dresses. ... their perfect dresses for their prom. For those who ... at TheCelebrityDresses.com would be an ideal choice. , ... dresses inspired by the most loved styles seen at ...
(Date:4/18/2015)... Tampa, FL (PRWEB) April 18, 2015 ... for Hillsborough County, along with 11 other secure destruction ... Certified Secure Destruction Specialists (CSDS). He will now display ... Two exams were offered before the National Association of ... Chicago, Illinois and another Grapevine, Texas. Of the 20 ...
Breaking Medicine News(10 mins):Health News:Auto Insurance Plans Can Cover Physical Injuries Caused By An Accident! 2Health News:Auto Insurance Quotes Can Provide Accurate Results! 2Health News:Prom Dresses 2015 on Sale at TheCelebrityDresses.com 2
... , ALLEGAN, Mich., Aug. 13 ... announced that its Board of Directors declared a quarterly dividend ... shareholders of record on August 28, 2009. , ... healthcare supplier that develops, manufactures and distributes over-the-counter (OTC) and ...
... health have found that its impact varies dramatically with age. ... bone strength in young people, it may protect against osteoporosis, ... team at the University of Edinburgh has shown that a ... by cannabis called the type 1 cannabinoid receptor (CB1) ...
... , , , ... (Nasdaq: SIAL ) today announced an agreement with ... synthetic extracellular matrix (ECM) for stem cell research. HyStem offers ... mimic natural in vivo conditions, optimizing stem cell ...
... India, Aug. 13 Lilly MDR TB Partnership ... to bolster the TB eradication in India. , ... ) , , Lilly MDR TB Partnership, ... will empower the teen community with necessary resources to help ...
... Aug. 13 /PRNewswire-Asia/ -- China Medicine Corporation,(OTC Bulletin Board: ... leading distributor of prescription and over the counter pharmaceuticals,traditional ... and medical formulations, today announced its second quarter,2009 results. ... -- Revenues increased 29.4% from Q2 ...
... , BALTIMORE, Aug. 13 To ... Nurses Association of Baltimore and the Greater Baltimore Urban League ... of Conduct from the American Medical Association. , ... state,s racial and ethnic minorities, including African Americans, face significant ...
Cached Medicine News:Health News:Sigma-Aldrich Offers Customizable Synthetic Extracellular Matrix for Stem Cell Research 2Health News:Sigma-Aldrich Offers Customizable Synthetic Extracellular Matrix for Stem Cell Research 3Health News:'Eli Lilly-Children International' Launches Teen Campaign to Reduce TB Cases in India 2Health News:'Eli Lilly-Children International' Launches Teen Campaign to Reduce TB Cases in India 3Health News:China Medicine Announces Second Quarter 2009 Results 2Health News:China Medicine Announces Second Quarter 2009 Results 3Health News:China Medicine Announces Second Quarter 2009 Results 4Health News:China Medicine Announces Second Quarter 2009 Results 5Health News:China Medicine Announces Second Quarter 2009 Results 6Health News:China Medicine Announces Second Quarter 2009 Results 7Health News:China Medicine Announces Second Quarter 2009 Results 8Health News:China Medicine Announces Second Quarter 2009 Results 9Health News:China Medicine Announces Second Quarter 2009 Results 10Health News:China Medicine Announces Second Quarter 2009 Results 11Health News:China Medicine Announces Second Quarter 2009 Results 12Health News:China Medicine Announces Second Quarter 2009 Results 13Health News:China Medicine Announces Second Quarter 2009 Results 14Health News:Leading African American Groups Call On Health Insurers to Dismiss Restrictive Practices 2Health News:Leading African American Groups Call On Health Insurers to Dismiss Restrictive Practices 3
(Date:4/17/2015)... Bionomics Limited (ASX:BNO, ADR:BMICY), a biopharmaceutical company ... for the treatment of cancer and diseases of the ... from three of its most advanced oncology programs at ... th Annual Meeting being held from April 18-22, ... The presentation on the BNC105 program ...
(Date:4/16/2015)... Mindray Medical International Limited (NYSE: MR ... medical devices worldwide, announced today that it has ... Report on Form 20-F that included audited financial ... electronic version of Mindray,s Annual Report on Form ... at  http://ir.mindray.com  or  http://www.sec.gov . Investors ...
(Date:4/16/2015)... Calif. , April 16, 2015  Alexza Pharmaceuticals, Inc. ... quarter ended March 31, 2015 on Wednesday, May 6, 2015, ... will also host an investor conference call and live webcast ... provide a company update and discuss the financial results.  ... to www.alexza.com , under the "Investors" link.  Please log ...
Breaking Medicine Technology:Bionomics Showcases Oncology Drug Development Programs at 2015 AACR Annual Meeting 2Bionomics Showcases Oncology Drug Development Programs at 2015 AACR Annual Meeting 3Bionomics Showcases Oncology Drug Development Programs at 2015 AACR Annual Meeting 4Bionomics Showcases Oncology Drug Development Programs at 2015 AACR Annual Meeting 5Mindray Files Annual Report on Form 20-F with the U.S. Securities and Exchange Commission 2Alexza to Report 2015 First Quarter Financial Results and Provide Corporate Update on Wednesday, May 6, 2015 2Alexza to Report 2015 First Quarter Financial Results and Provide Corporate Update on Wednesday, May 6, 2015 3
... 2011 Cephalon, Inc. (Nasdaq: CEPH ) ... today announced that the companies have signed an agreement ... Alba,s assets relating to larazotide acetate, a tight junction ... the treatment of celiac disease. Under the terms of ...
... (NYSE Amex: CUR ) announced that the U.S. ... granted it orphan drug designation for the treatment of Amyotrophic ... stem cells (NSI-566RSC), currently in a Phase I safety study ... route of administration in a wide range of ALS patients. ...
Cached Medicine Technology:Cephalon Signs Option Agreement to Acquire Assets from Alba Therapeutics 2Cephalon Signs Option Agreement to Acquire Assets from Alba Therapeutics 3Cephalon Signs Option Agreement to Acquire Assets from Alba Therapeutics 4Neuralstem Receives FDA Orphan Designation for Spinal Cord Stem Cells for Treatment of ALS 2Neuralstem Receives FDA Orphan Designation for Spinal Cord Stem Cells for Treatment of ALS 3
... designed to accept rigid fixation ... an excellent reconstructive option for ... blowout defects. Each design has ... one or more rigid fixation ...
Medpor Complete Orbit are designed to replace non load bearing bony structures in the orbital area....
... Medpor Inferior Orbital Rim implant can provide ... is designed to be trimmed to meet ... small flange allows it to rest on ... floor. This flange allows easier positioning of ...
The new Inferior Medial Orbital Rim Implant (IMORI) provides surgeons with an excellent alternative for patients with a deficient or recessed "tear trough" area often characterized as a look of fatig...
Medicine Products: