For employers, the most significant changes will be a reduction in corporate, individual and
unemployment insurance taxes, which will provide at least $100 million in savings.
These investigations have led to the recovery of about $2.4 million in fines on
Unemployment Insurance taxes owed for 7,100 unclaimed workers.
CONCORD: A 1.5 percent reduction in New Hampshire employers'
unemployment insurance taxes has taken effect Gov- Chris Sununu and Department of Employment Security Commissioner George Copadis have announced.
Furthermore, businesses operating in the shadow economy avoid payments to social security systems (e.g., they don't pay
unemployment insurance taxes), thereby threatening the overall stability of programs built upon these systems.
The largest single bill, $5,304, is owed by the Missouri Times to the Missouri Department of Labor, Division of Employment Security, for unpaid
unemployment insurance taxes covering the period between April 1, 2014 to June 30, 2015.
The Oregon Supreme Court ruled last week that a Portland taxicab company must pay
unemployment insurance taxes for certain drivers because they were improperly classified as independent contractors, the Associated Press reported.
Also ranked are
unemployment insurance taxes (45th), corporate tax (4th best), the individual income tax (49th), the sales tax (38th), and property taxes (45th).
On average,
unemployment insurance taxes will decline to 2.76 percent from 3 percent, reflecting a drop in the number of claims for jobless benefits and a reduction in the duration of the period for which they're paid.
"Despite moderate corporate taxes, New York scores at the bottom this year by having the worst individual income tax, the sixth-worst
unemployment insurance taxes and the sixth-worst property taxes," the Tax Foundation said in its analysis.
The program, which is administered by the state, is paid for through a surcharge on employer
unemployment insurance taxes.
Businesses in at least 35 states will have to pay more in
unemployment insurance taxes this year, with the median increase of unemployment insurance tax at 27.5 percent.