Unemployment insurance tax to rise
Beginning in January, Maine employers will see a $10-per-employee tax increase to fund the state's unemployment trust fund.
Maine Department of Labor Commissioner Laura Fortman told Capitol News Service companies will see their per-employee unemployment insurance tax rise from $93 to $103 annually, an increase that will cost employers about $14.5 million. Fortman told the news service that 35 states, Maine not included, have exhausted their unemployment benefits funds and have had to borrow from the federal government, which requires states to pay interest and surtaxes. "If we had to borrow, the tax increase would be a lot larger," Fortman said. The state will pay $210.3 million in unemployment benefits by the end of the year, while benefits paid to Mainers through federal extension programs are estimated to total $213.6 million.
Peter Gore, vice president of the Maine State Chamber of Commerce, told the news service this year's increase is significantly less than the $54 million imposed last January.
Go to the article from Capitol News Service >>
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