The hectic period we call “rate season” goes into full swing in the latter part of the calendar year. But there are a few state unemployment agencies that calculate their tax rates on a different time period. Most states use a calendar year for the rate effective period but calculate on a fiscal period, which is usually July 1 through June 30. However, the states of New Hampshire, New Jersey, Tennessee, and Vermont work outside that period. Their rates are effective from July 1 through June 30, and the fiscal calculation period is January 1 through December 31.

The state of Vermont is the first to generate its tax rates for the coming 12 months. The tax rate schedule and taxable wage base remained the same as last year for this state. So, employers should not have seen much of an uptick in their rates unless their historical rate experience warranted an increase.

The state of New Jersey will be the next state agency to have rates available for employers. We recently were made aware the state has the rates available for employers to download from their online portal and will not be mailing paper notices at all. So, if not already completed, employers must create a username and password on the New Jersey Department of Labor and Workforce Development website under the Employer Services dropdown. New Jersey will keep Schedule B for the 2019/2020 year in determining tax rates, and there is no plan for an increase in the taxable wage base. Voluntary contributions are allowed in this state, so be on the lookout for recommendations from your CCC Tax Analyst for profitable options.

New Hampshire and Tennessee will both send out tax rates for the period July 1, 2019, through June 30, 2020, in the latter part of August. At the time of this writing, neither state agency has finalized their tax rate schedules or taxable wage bases. We will keep you updated on any changes to rate schedules as we are made aware. If you have had any corporate structure changes in the first part of the year, make sure your CCC Tax Analyst is aware so he or she can take that into consideration when auditing your tax rate documents for 2020.


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