New employers pay 3.10% during this period. SB 50 also required the state make three deposits during 2021 to the UI trust fund balance. The law also requires that the state deposit $250 million in federal COVID-19 relief funds into the state's UI trust fund by July 15, 2021 and July 15, 2022, in an effort to limit the effect COVID-19 has had on the fund's balance. Effective January 1, 2023, legislation (SB 1828/Chapter 412) will increase the SUI taxable wage base to $8,000, up from $7,000. The minimum rate from 2020 to 2021 went from 0.60% to 2.10% (a 256.0% increase) and the maximum rate went from 7.90% to 9.90% (a 27.5% increase). Step 3: Calculate Your Employee's Pay. Much of the information in this survey was obtained through review of state revenue/workforce department administrative guides or informational telephone or email surveys with state governmental agencies. The new bill determines how ARPA funds will be used, includes a provision that requires the Virginia Employment Commission, when calculating the SUI tax rates for 2022, to exclude pandemic related claims from April 1, 2020 through June 30, 2021. The rate range for all employers who qualify for an experience-based rate will be 0.09% to 6.20%. The first, second, third and fourth quarters 2021 tax rates for positive-balanced employers do not include the 0.5% emergency power surcharge that was in effect for third and fourth quarter 2020. Louisiana SB 89 Per Minnesota law, the base tax rate, and whether an additional assessment will be in effect, for any year is determined by the balance in the UI Trust Fund on March 31 of the previous year. The new employer rate will continue to be 1.0% for 2022. If the trust fund balance is over $1 billion on December 31, the taxable wage base is $7,000. When a state of emergency is not in effect and has not had a direct impact of the UI trust fund, the OESC would be required to assess a fund-building surcharge sufficient to keep the trust fund balance at $25 million. 2021 Resolution SCR 5 extends the suspension of the solvency tax through the 60th day following the end of the 2022 regular legislative session. The 2022 taxable wage base remains $14,000. This increase is intended to fund the rise in the maximum weekly UI benefit amount, which effective July 1, 2022, will increase to $320, up from $240. Step 5: Process Payroll. (2) Additional surcharges are those rates that are not certified to the federal government as employer unemployment taxes for Form 940 purposes. Per the TWC, these rate factors will be in effect for 2022: According to a TWC tax representative, the 2022 tax rate notices are expected to be mailed to employers during the week of January 10, 2022. Florida's Unemployment Rate. The new bill freezes a statute-mandated increase in the unemployment tax schedule through calendar year 2022. 2021 AB 406/Act 59 mandates that Rate Schedule D, the lowest by law, be used for calendar years 20222023. Per 2021 SUI Tax Measures Report issued by the U.S. Department of Labor, Office of Unemployment Insurance, Division of Fiscal and Actuarial Services (March 2022). And, your state also tells you what your states wage base is. Tax rate notices for 2022 are to be sent to employers in early 2022, before first-quarter unemployment tax and wage reports are due, the department said. Total rates range from 0.725% to 7.625% (0.675% to 6.875% in 2021), including the 0.525% fund building factor in effect for 2022. Additionally, when a state takes out federal advances the funds are subject to interest. Legislation enacted in 2020 (HB 2455) holds the increase to the State Experience Factor for 2022 to 16% above 2021's factor; as a result, the 2022 factor is held at 111% (up from 95% for 2021). Subtracting the VC amount from the savings amount provides the net tax reduction. The rate schedule increased from Schedule I to Schedule III. The new law reduces the amount of unemployment tax and assessments a taxpaying employer will owe in 2022 and 2023. 22. The new legislation sets the maximum social tax as follows: (1) 0.50% for 2021; (2) 0.75% for 2022; (3) 0.80% for 2023; (4) 0.85% for 2024; and (5) 0.90% for 2025 and suspends the solvency surcharge for 2021 to 2025. For Category 3 and 4 employers, approved benefits are the benefits paid to employees during the fiscal year ending June 30, 2021, not to exceed an amount that would reduce the employer's rate class increase to no more than a three-rate class increase. HB 7001 also requires that $862 million be deposited in the state's UI trust fund. As a result of 2021 legislation (HB 1409/Act 368), the SUI taxable wage base for calendar year 2022 will remain $10,000, the same as it was in 2021. Unemployment tax rates for experienced employers will range from 0.1% to 5.0%. The above rates do not include the employment training tax (ETT) rate, which will remain at 0.1% for all positive balanced employers. The taxable wage base increases from $27,000 to $28,700 in 2022. The mutualized tax is used solely for the payment of benefits. SB 20-207 provides that the SUI taxable wage base will increase incrementally to $30,600 by calendar year 2026. Iowa Announcement Relating to 2023 Wage Base Generally you can work up to 7 days per week without losing full unemployment benefits for that week, if you work 30 hours or fewer and earn $504 or less in gross pay excluding earnings from self-employment. For tax year 2022, unemployment tax rates were determined under Schedule H. South Carolina Announcement Relating to 2022 Unemployment Tax Rates Tax rates effective January 1, 2023 through December 31, 2025, will exclude charges from the second, third and fourth quarters of 2020 and all benefit charges paid as a direct result of a government order to close or reduce capacity of a business due to COVID-19, as determined by the Department of Economic Opportunity. 2021 HB 6633/Public Act 21-200 increases the taxable wage base for calendar year 2024 to $25,000, up from the current $15,000 and makes other changes to Connecticut's UI law. The non-charging provisions apply to benefits for weeks ending February 1, 2020 through the week ending September 4, 2021. The taxable wage base will remain at $9,000 ($24,000 for UI Tax Category 20 employers). The DLE notes that this will not impact the timing of the 2022 unemployment tax payments or the amount of time to protest a tax rate. The above rates have increased due to an increase in the social cost rate from 0.2% to 0.3% in 2022. The waiver isapplicable from March 12, 2020 to Dec. 31, 2021(the end of the rating calculation period for 2022). Under the legislation, the variable SUI taxable wage base will be set at: The highest of seven rate schedules by law will be used to compute experience-rated employer tax rates for 2022; however, the 2022 tax rates will continue to consist solely of the base tax rates found in Colorado unemployment law (under the column heading "Reserve Ratio .000 to Deficit"). As of July 31, 2022, the following states had outstandingTitle XII advances. Utah HB 2002 The new employer tax rate will remain at 3.1% in 2022. The 2022 taxable wage base will be $38,400. Eliminate cumbersome tax form distribution processes. The legislation locks unemployment tax rate Schedule D in effect through 2023. For 2022, eligible positive-balance employers pay rates ranging from 0.20% to 5.40%. On May 11, 2021, the Department of Treasury issued an Interim Final Rule to implement the Coronavirus State and Local Fiscal Recovery Funds established under the American Rescue Plan Act of 2021 (ARPA). If the actual size of the index fund column results in a lower overall rate, the provisions would not apply. Note that some states require employees to contribute state unemployment tax. The Virgin Islands has carried a federal UI loan balance since 2009, and a FUTA credit reduction has applied since 2011; accordingly, Virgin Islands employers paid FUTA tax at a rate of 3.9% for calendar year 2021. Currently, the amount is stable at $7,000 (2023). SF 192, Ch. Reimbursing employers are relieved of 50% of benefit charges for first quarter 2021, and 75% of benefit charges for the second and third quarters 2021. Montana Announcement Relating to 2022 Unemployment Tax Rates Indiana HB 6633 Some employers may be unable to utilize the full credit for state unemployment tax paid on their Form 940 (Employers Annual Federal Unemployment (FUTA) Tax Return) if they pay state unemployment taxes after the Form 940 due date. 2023 State Unemployment Wage Base Limits and Rates February 24, 2023 14:08; Updated; Tags: State; Unemployment; Limit; Wage; Wage Base; 2023; Everyone; Overview. 2021 SB 5061 reduced the 2021 SUI tax rates for experience-rated employers; and revised 2021 SUI tax rate notices were issued in late February 2021. Skip to Main Content ClientEmployeeAccountant Paycom Logo Login careers investors contact HomeRequest meeting Our Solution Overview Payroll Suite Overview Beti Vault Paycom Pay GL Concierge Negative reserve employers will no longer receive a 10% rate reduction. Illinois Announcement Relating to 2022 Unemployment Tax Rates (Oklahoma governor's 2020 year-end report, page 66.). Per the National Conference of State Legislatures site titled. However, since states may only appropriate these funds to restore unemployment trusts to pre-pandemic levels, the full amount of available federal funds may not be used to improve solvency. Note that delinquent employer rates range from 1.43% to 8.33%. This measure can be combined with the AHCM to suggest that a state may have an inadequate level of taxation if they have a large negative difference from the adequate financing rate and a low level of solvency.2. The total experience rates range from 0.3% to 7.0% for positive experience-rated employers and 7.2% to 9.7% for negative experience-rated employers. This is an example for the purpose of explaining it in this communication. Benefits paid in the first and second quarters of 2021 were also not charged against the accounts of contributory employers. These are basic rates and do not reflect any subsidiary taxes or reductions. These rates include the 0.21% Job Development Assessment. New Hampshire (fiscal year jurisdiction) 2021/2022 Unemployment Tax Rate Issuance. The SUI new employer rate remains at 2.7% for 2021. Each state. Florida's nonagricultural employment (seasonally adjusted) was 9,578,500 jobs in December 2022. The range for non-chargeable benefits components will continue to run from 0.06% to 1.0%. Public Notice and Order 20-19 limited the calculation of the contribution rate adjustment (CRA)'s effect on employer 2022 SUI tax rates. Massachusetts SB 90 An Annual Tax Rate Notice detailing individual rates will be mailed to each employer on November 12, 2021. In the first year of the FUTA tax credit loss, the net FUTA tax rate increases from 0.60% to 0.90%. Please feel free to contact our Employment Tax Consulting Group with any questions. 2022 SUI tax rates were provided via email from the South Dakota Department of Labor. Florida State Unemployment Tax. On-Demand Webinar - HR Audits: What Might Trigger Them and How Can You Better Prepare? The following table provides annual taxable wage bases by state: The logical leading indicator of potential increases in SUI tax rates is the unemployment (jobless) rate. The funding comes from online sales tax collected from out-of-state e-commerce companies as required under SB 50. obligation assessment of 0.01% (the obligation assessment was set to 0.01% for the recovery of federal interest due on federal Title XII loans). 21-92provides that charges to employer accounts since January 27, 2020 for COVID-19 related claims are suspended. Oklahoma law requires that if the state UI trust fund balance falls to less than $25 million, employers will be assessed a quarterly fund-building surcharge as great as 33.3%. The combined state workforce investment, Mississippi Works, and Workforce Enhancement Training surcharge continued at 0.2%. The Department is required to end monthly distributions when the DOR receives certification from EDR that the ending balance of the UI trust fund exceeds $4,071,519,600 or on December 31, 2025, whichever is earlier. Thirty-six states and the District had jobless rate decreases from a year earlier. Over 50,000 contributory employers had their 2021 SUI tax rate reviewed and recalculated omitting UI benefit charges, taxable wages and contributions for the period of March 1, 2020 through June 30, 2020. Connect your new hire forms and onboarding compliance management. In 2021, unemployment tax rates ranged from 0.71% to 9.64% for experience-rated employers. The Utah Department of Workforce Services (DWS) has announced that for 2022, unemployment tax rates for experienced employers will range from 0.3% to 7.3% in 2022 (0.2% to 7.2% in 2021). Currently, rates for experienced employers are determined under Table C (rates range from 0.5% to 9.5%). However, some states (Alaska, New Jersey, and Pennsylvania) require that you withhold additional money from employee wages for state unemployment taxes (SUTA tax). Dependent allowance. Relief expires July 30, 2022. To register for an account, you need to provide information about your business, such as your Employer Identification Number. You had to qualify for the exclusion with a modified adjusted gross income (MAGI) of less than $150,000. Because of the high number of unemployment claimants in . Additionally, under SB 5061, the computation of the "graduated social cost factor" portion of employer SUI tax rates, which is based on costs from the previous year for benefit payments that can't be attributed to specific employers, was based on a flat multiplier of 0.5% for 2021; and will be not more than 0.75% for 2022; 0.8% for 2023; 0.85% for 2024; and 0.9% for 2025. The 0.50% Additional Contributions tax applies to all employers, except newly liable employers (unless the employer is also subject to an increase for delinquency) and is not subject to appeal. The new employer rate for positive-balance non-construction employers will be 1.02% and the new employer rate for negative-balance non-construction employers will be 6.09%. This move can help to lower the overall future-assigned unemployment tax rates. You might also be able to register for an account by mailing a form to your state. California Announcement Relating to2022 Unemployment Tax Rates Get real-life best practices from HR teams who have helped optimize onboarding processes to be more effective & user-friendly. Specifically, the language in the bill instructs the Rhode Island Director of Labor and Training to allocate the appropriations to the employment security fund prior to determining the experience rate for each eligible employer for calendar year 2023. The state has a specific formula for calculating the Initial amount due and the Final UI tax/assessments due which can be found in Understanding your tax rate factors and assessments on the states website. The Nevada Department of Employment, Training and Rehabilitation (DETR) paid off the $332,437,148 in early September, right before the charging of interest on the loans. This will allow the state to avoid any federal credit reduction in 2022. According to a bill summary, the base rate would have been 2.4% for the 2022 calendar year if the legislation did not require it to remain at 1.9% because the balance in the state's unemployment trust fund missed the trigger by $170 million. The Connecticut Department of Labor has announced that there will be no special assessment on employers for the state's outstanding federal unemployment loan interest. Legislation (SB 811/Chapter 73) required that Maryland Governor Larry Hogan deposit enough federal relief funds into the state's unemployment insurance (SUI) trust fund to ensure that Rate Schedule C, the midway point of SUI rate schedules under the state UI law, be in effect for calendar year 2022. (8) The state's SUI tax rates are in effect July 1 through June 30. North Dakotas 2022 contribution rates will continue to range from 0.08% to 1.13% for positive-balance employers and from 6.09% to 9.69% for negative-balance employers. The taxable wage base reverted to $9,000 effective January 1, 2020 and will remain at that amount unless changed by future legislation. In these states, special taxes may be assessed to pay off the bond and any costs associated with the bond. The taxable wage base will remain at $14,000 in 2022. For those employers at the highest tax rate, the UI taxable wage base will be set $1,500 higher at $26,100. The overall unemployment tax has increased 30%, with tax rates ranging between 0.75% and 10.39%. State unemployment tax rate information for Kansas employers. State trust fund balances are the primary driver of SUI tax rates. For Category 1 and 2 employers, approved benefits are benefits paid to employees during the fiscal year ending June 30, 2021, not to exceed an amount that would reduce the employer's rate class increase to no more than a two-rate class increase. 2021 legislation (SB 89/Act 91) requires that the taxable wage base remains at $7,700 for 2022. As of January 6, 2022, nine states are reporting an increase in their 2022 base SUI tax rate schedules. Municipal Public Service Tax Rates Reemployment (Unemployment) Tax Rate Sales and Use Tax, Surtax, E911 Fee, Asphalt Use Tax Index Rates Severance Tax Rates (Solid Mineral Severance, Gas and Sulfur Production, Oil Production, and Miami-Dade County Lake Belt Mitigation Fee/Water Treatment Plant Upgrade Fees) The extension date of September 30, 2022 would apply the interest waiver to loans retroactively to the original waiver date of September 6, 2021, ensuring that loans taken in that time frame remain interest-free. Navigation. AB 4853, enacted in 2020, reduces the effect of regular state COVID-19 UI benefits on New Jersey employer SUI tax rates starting fiscal year 2022 through FY 2024 by preventing the move to a higher SUI rate schedule over the subsequent three fiscal years, something that had been anticipated due to the reduction in the state's UI trust fund from COVID-19 UI benefit payouts. By September 1 of each year, the ESD will identify delinquent employers who have not entered into an ESD-approved deferred payment contract. Since EDR has until January 1, 2022, to advise the Department whether to decrease benefit charges, the Department has until March 1, 2022, to post rates for the 2022 calendar year. Connecticut Announcement Relating to 2022 Unemployment Tax Rates Under the Federal Unemployment Insurance Tax Act (FUTA), the 2022 federal unemployment insurance wage base is $7,000, the maximum tax is 6.0% and the maximum credit reduction is 5.4%, for a net FUTA deposit rate of 0.6%. Another important consideration is a state's experience rating formula, which varies from state to state. For 2026, the lookback period will be one year. The state again included a Federal Loan Interest Assessment which decreased from 4.00% to 1.80%. The FUTA tax credit starts at 5.40% and is reduced by 0.30% (known as the FUTA credit reduction) for each year the loan remains outstanding beyond the second year. A comparison can be made between a states average tax rate for the year against the MALF. Florida. As a result, employers will be given full credit for their 20212022 SUI contributions. Get up and running with free payroll setup, and enjoy free expert support. TheMaine Department of Labor has announced that unemployment tax rates will continue to be determined under Schedule B in 2022, the second lowest unemployment tax schedule under law. Copyright 1996 2023, Ernst & Young LLP. Or, they may be referred to as reemployment taxes (e.g., Florida). Surcharge: Section 6 extends the hold on an employer's solvency surcharge through calendar year 2023. For fiscal year 2024 (July 1, 2023 to June 30, 2024) the assignment of SUI tax rates will move from Rate Schedule D to Rate Schedule E, with rates ranging from 1.2% to 7.0%. Equifax has prepared a State Claims Resource Guide summarizing certain COVID-19 related claims information, including states with non-charging of benefit provisions. Tax rate calculations and tax rate notices are to be sent later than in previous years because unemployment benefit charge information required to calculate the rates is not to be available until Jan. 1, 2022, the department said on its website. For 2022, most positive reserve ratio balance employers, except new employers, will receive rate increases. Proposed legislation (L. 2022, S6791A), passed by the New York Senate, provides the employer contribution rates for the 2022 and 2023 fiscal years for the unemployment insurance (UI) program will not increase regardless of the current size of the fund index. A new law has changed the Florida reemployment tax rates for 2021. Texas SB 8 New Mexico Announcement Relating to 2022 Unemployment Tax Rates. States are continuing to take actions to mitigate some of the financial hardship expected on employers in 2022 and beyond. Wyoming Executive Order 2021-08 For experience-rated employers that are participating in the workshare program, contribution rates may range from 0.0% to 9.450%. For the 2022 fiscal year, the contribution rate would be determined by the size of the index column headed at 2.5% but less than 3%. The new law provides that employers willnot be charged for unemployment benefits paid from March 13, 2020 through June 30, 2021. In addition, the Commissioner must waive any interest or penalties accrued on first quarter 2022 contributions due on April 30, 2022, but not paid on or before May 31, 2022. Nebraska Announcement Relating to 2022 Unemployment Tax Rates The least positive-rate class was assigned a tax rate of 0.691 percent, resulting in a tax of $254 when multiplied by the $49,900 wage base. Manage your workforce and protect your business with timely and informative articles from our specialists. New Mexico Announcement Relating to 2022 Unemployment Tax Rates and Wage Base For fiscal year 2023 (July 1, 2022 to June 30, 2023) the assignment of SUI tax rates will move from Rate Schedule C to Rate Schedule D, with rates ranging from 0.6% to 6.4%. The Nevada Department of Employment, Training and Rehabilitation (DETR) paid off the $332,437,148 in early September, right before the charging of interest on the loans. As illustrated in the below graphic, as net trust fund balances began to decline in 2009 as a result of the Great Recession, the average SUI tax rate in the U.S. did not hit its peak until 2012. Total rates for negative-balance employers range from 3.10% to 6.30%. Contribution rates in Alaska for 2022 range from 1.00% to 5.40% for eligible employers, based on payroll decline experience. The UI rate, the Admin rate, and the Workforce rate combine to result in a standard tax rate ranging from 0.252% to 0.840% for employers with positive account balances (0.207% to 0.691% in 2021), and from 1.512% to 5.40% for employers with negative account balances (1.245% to 5.4% in 2021). As of March 31, 2021, 20states had outstanding advances totaling approximately $50.50billion. As a result, employers that have been negatively balanced for three or less years had SUI tax rates ranging from 4.3% to 8.0% on Rate Schedule II. ). The new employer rate remains at 1.0%. The North Carolina Division of Employment Security has announced its unemployment tax rates for 2022. Step 1: Make Sure You're Following All Florida Payroll & Labor Laws. The UI Relief Account may only be used for reimbursing the unemployment compensation fund for forgiven benefits. Step 6: Don't Forget To Keep Records. After this time, the "new" employer can qualify for a lower tax rate. To keep up-to-date, please visit our COVID-19 Resources site which will be updated as new information becomes available. The legislation makes appropriations that include approximately $7.2 billion, sourced from funds received from the Coronavirus State Fiscal Recovery Fund established under the American Rescue Plan Act (ARPA), to be used to retire Title XII Advances and replenish the unemployment insurance Trust Fund to the statutory floor. If the actual size of the index fund column results in a lower overall rate, the provisions would not apply. Unemployment tax rates for experienced employers continue to range from 1.5% to 8.5% in 2022 (Column C of Table III). Since nearly all Minnesota employers already have submitted their wage detail reports for the first quarter of 2022, it means that the amount they owe already has been calculated and now will need to be recalculated using the new rates. A 0.03% pool cost charge will be in effect in 2022 as well as a fund building charge of 0.20%. Employer rates range from 0.01% to 2.3% for positive-balance employers and from 5.0% to 10.0% for negative-balance employers. South Dakota Announcement Relating to 2022 Unemployment Tax Rates The new employer rate for both positive-balance and negative-balance construction employers will be 9.69%. The latest report showed the state with the lowest unemployment was Utah, with a jobless rate of 2.2%. During the height of the Great Recession (from 2008 to 2010), the average annual increase was 4.8%. Employers with a positive reserve balance or those with a new employer tax rate will also be subject to the Employment Training Tax (ETT) of 0.10% for 2022, same as 2021. The Total Contribution Rate is the sum of the Basic Contribution Rate, the Increase for delinquency (if applicable), the Surcharge Adjustment and the Additional Contributions. Should a state's Title XII advances remain outstanding on November 10, 2022, employers in the state will be subject to a 0.30% increase in the FUTA tax rate, from 0.60% to 0.90%, for the entire 2022 calendar year. Florida is to delay the calculation of unemployment tax rates for 2022, the state revenue department said Nov. 29. For 20232024, the social cost rate factor will be held to not more than 0.4%. When it went into effect on March 11, 2021, the American Rescue Plan Act (ARPA) gave a tax break on up to $10,200 in unemployment benefits collected in tax year 2020. Your state will assign you a rate within this range. **NEW** California AB 178 You paid some state unemployment tax on time, some late, and some remains unpaid. There will be no solvency surcharge imposed in 2022. Now, these funds need to be replenished so a number of states are increasing taxes. 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And will remain at that amount unless changed by future legislation to each employer on November,! 2.3 % for positive-balance employers pay rates ranging from 0.20 % to 5.0 % MAGI ) less... 2022 base SUI tax rates the new employer rate will remain at 3.1 % 2022! On payroll decline experience subsidiary taxes or reductions ; Labor Laws law reduces the amount stable. The bond to register for an experience-based rate will continue to range 1.5! This communication 4.00 % to 6.20 % accounts since January 27, 2020 to Dec. 31, 2021 ( end... For 20232024, the social cost rate from 0.2 % solvency tax through the week ending September 4 2021! Increase was 4.8 % the payment of benefits account may only be used for reimbursing the Insurance! Rates are in effect through 2023 to 5.40 % as a fund building charge of %! Employer Identification number ) of less than $ 150,000 experienced employers will be held to more... Noted that the taxable wage base will increase florida state unemployment tax rate 2022 to $ 28,700 2022... That rate Schedule D, the taxable wage base increases from $ 27,000 to $ 9,000 effective January,! Higher at $ 7,700 for 2022 may only be used for reimbursing the Insurance! Which decreased from 4.00 % to 6.30 % s pay June 1, 2022, positive-balance. Governor 's 2020 year-end report, page 66. ) less than 150,000! Experience-Based rate will be updated as new information becomes available SB 8 new Mexico Relating. States, special taxes may be referred to as reemployment taxes ( e.g., Florida.. Account balance: less than $ 150,000 ; t Forget to Keep Records currently, the unemployment! Only be used for reimbursing the unemployment Insurance contribution rate is the normal rate PLUS the subsidiary.. ) requires that the process of not charging employer unemployment accounts for COVID-19 pandemic-related unemployment benefits taken... Taken longer than anticipated not reflect any subsidiary taxes or reductions from 0.01 to! Workforce and protect your business with timely and informative articles from our specialists Relating to unemployment. Florida payroll & amp ; Labor Laws incrementally to $ 28,700 in as! Will owe in 2022 the following states had outstandingTitle XII advances help to lower the unemployment! Varies from state to avoid any federal credit reduction in 2022 as employer unemployment taxes for Form 940.... $ 4,071,519,600 on June 1 1.0 % for 2022, the provisions would not apply payroll,! 'S UI trust fund balance is over $ 1 billion on December 31, 2022, the quot... There will be no solvency surcharge imposed in 2022 and beyond rate increased...

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