Search results
Results From The WOW.Com Content Network
Taxes under State Unemployment Tax Act (or SUTA) are those designed to finance the cost of state unemployment insurance benefits in the United States, which make up all of unemployment insurance expenditures in normal times, and the majority of unemployment insurance expenditures during downturns, with the remainder paid in part by the federal government for "emergency" benefit extensions.
For example, for taxable years 2012 and 2013, the Virgin Islands had a 2.7% "add-on" when its tax rate on total wages was below a national minimum. For taxable year 2014, Connecticut had a "BCR add-on" when its tax rate on the taxable portion of covered wages in the previous calendar year was less than the 5-year benefit–cost ratio applicable ...
More on the settlement: Michigan's unemployment agency settles lawsuit for $55 million, will make changes More on claimants waiting on benefits: Years post-pandemic, some out-of-work Michiganders ...
Unemployment insurance is funded by both federal and state payroll taxes. In most states, employers pay state and federal unemployment taxes if: (1) they paid wages to employees totaling $1,500 or more in any quarter of a calendar year, or (2) they had at least one employee during any day of a week for 20 or more weeks in a calendar year, regardless of whether those weeks were consecutive.
Michigan's Unemployment Insurance Agency will pay $55 million and make changes to how it processes claims as part of a settlement reached in a lawsuit from several pandemic-era unemployment ...
Michigan's 1099-G tax forms are now in the mail after roughly a three-week delay. The forms are needed to complete a tax return.
Many cities, counties, transit authorities and special purpose districts impose an additional local sales or use tax. Sales and use tax is calculated as the purchase price times the appropriate tax rate. Tax rates vary widely by jurisdiction from less than 1% to over 10%. Sales tax is collected by the seller at the time of sale.
Unemployment benefits are taxable, so government agencies must send a tax form — known as a 1099-G — to people who received the benefits so they can report the income on their tax returns.