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NJ Unemployment Rate

NJ DOL Employer Contribution Deadline -Aug 22nd!

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 Beginning 2012, employers no longer receive an annual paper Notice of Employer Contribution Rates. Instead, the notice is now accessible through the Tax Web Enabled System (TWES). As a result of this change, it’s urgent that you check your TWES account as soon as possible. The new rates were posted as early as July 23, and there’s a 30 day deadline (from the date of “mailing”) to make a voluntary contribution. In many circumstances a voluntary contribution represents an excellent opportunity to reduce labor costs.  For more information regarding TWES check out our blog at: http://ua-cpas.com/blog/2012/01/nj-unemployment-rate-notice/ [Read more…] about NJ DOL Employer Contribution Deadline -Aug 22nd!

NJ Employer Contribution Rate Notice Now Available Online

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Beginning fiscal year 2012/2013, employers will no longer receive an annual paper Notice of Employer Contribution Rates. Instead, it will now be accessible through the Tax Web Enabled System (TWES). This change will enable employers to get their contribution rates much sooner. The TWES also provides the employer with valuable information such as account status, payment history, open balance, delinquent reports and more. To set up a TWES account, go to NJ Employer Contribution Rate  and follow the instructions. The employer must establish the administrator account first; creating a user account is optional.

Reduce your NJ Unemployment Rates!

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All New Jersey employers received this week a Notice of Employer Contribution Rates. It clearly states, “This is not a bill”, but rather a summary of the manner in which the NJ Department of Labor calculates your employer contribution rate for unemployment and disability. Furthermore, this form enables you to determine whether a voluntary contribution would save you, or your clients, money in the subsequent year. A voluntary contribution increases the reserve balance and may reduce your contribution rate. [Read more…] about Reduce your NJ Unemployment Rates!

NJ Eases the Unemployment Tax Increase

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With NJ jobless rate fixed above 9 percent for two years, the unemployment fund has reached a soaring deficit. Such a deficit would normally trigger the highest possible tax rate for employers on July 1st. Fortunately, lawmakers stepped in and passed a bill (through the NJ Assembly) which would increase the tax to $58 per employee, down from $177 for employee if no legislative action were taken. The cost will then climb steadily over the next three years. The bill (S2730) heads to the Senate Budget Committee for approval. Here is a summary of  the proposed Bill S2730 in its entirety;2730_S1.