Date/Time
May 8, 2025
12:00 pm - 1:15 pm
(Eastern Standard Time)
For 2025 the taxable wage base in NY is increasing from 12,500 to 12,800 and is scheduled to go up again in 2026. That is the portion of payroll that your State Unemployment Tax (SUTA) rate is applied to.
So, what that means is that your SUTA is going to end up costing you more money. Also applied to your annual SUTA costs is a per employee interest assessment fee, to cover the interest on the loan that the state took from the federal government to cover Covid claims.
Additionally, new federal legislation that was proposed to go into effect this year would be increasing the weekly unemployment benefit in NY from $504 to $1,163….that is a 131% increase! So, if your organization is self-insured / reimbursing, you could have a potential legal issue!
Join TANGO Partner, First Nonprofit for an in-depth educational session on money saving solutions for you and your nonprofit organization.
Guest Speaker:
Tommy Ferentino, Ph.D, CIC
Regional Director
First Nonprofit
Location
The Culinary Lab