Political News and Commentary with the Right Perspective. NAVIGATION
  • Front Page
  • News
  • Multimedia
  • Tags
  • RSS Feed

    • Advertise on RightMichigan.com


    NEWS TIPS!

    Get the RightMighigan.com toolbar!


    RightMichigan.com

    Buzz

    Who are the NERD fund donors Mr Snyder?

    Raise the curtain.

    Display: Sort:
    SHOCK: The cost of prolonged failure -- Raising taxes on job makers by another $860+ million | 9 comments (9 topical, 0 hidden)
    Neg. Bal Employers (none / 0) (#3)
    by StillHere on Tue Jan 13, 2009 at 10:25:14 AM EST
    Ok, I'm probably going to get blasted for this, but there is a couple different reasons why we have so many negative balance employers.

    First is our wage ceiling for unemployment tax. It is 9,000.00, which equals about 420.00 per employee per year for a 1st year employer. That number goes down as the rate goes down if your lucky enough not to have to lay anyone off.

    NJ SUI wage ceiling is 28,900 this year plus the employee pays a percentage of their unemployment taxes (along with a disability and their brand new FIL tax)

    PA UIA wage ceiling is 2 tiered. .06% SUI up to 9,999,999.45 (not a typo) and 3.703% up to 8,000.00

    Second is the extension on unemployment benefits granted by the Feds. Taxation levels are based on a 13 week employee UIA benefit, not 26 or 39 weeks.

    I'm not saying employees should not have been grated the extension, they need it and any one of us could end up on the unemployment line. I will say I'm less concerned about the company I work for becoming a negative balance employer in NJ & PA even with the extensions as opposed to it being a real possibility here in MI if we have to lay even one person off. As it stands right now, it's only the negative balance employers that have to pay the tax, but with our wonderful government, give it a minute and it will change (kinda like MI weather).
     

    SHOCK: The cost of prolonged failure -- Raising taxes on job makers by another $860+ million | 9 comments (9 topical, 0 hidden)
    Display: Sort:

    Menu

    + create account
    + FAQ
    + Editorial Policy
    + Search



    Login

    Make a new account

    Username:
    Password:
    Tweet along with RightMichigan by
    following us on Twitter HERE!
    create account | faq | search