The IRS has named the states that will be subject to FUTA credit reductions for 2012 FUTA taxes. Point your browser here to see if your state is on the list.
Reminder: FUTA credit reductions arise when states borrow from the federal government to pay regular unemployment benefits and fail to timely repay the loans. The longer those federal loans remain outstanding, the lower your maximum FUTA credit will be.
BUILD A BETTER BUDGET: Monitoring your state and federal unemployment costs, and budgeting accordingly, can save your company a bundle. To speed the federal loan repayment process, many states have initiated special assessments. These assessments will be indicated on your quarterly unemployment bill, so read it carefully. To keep track of the amount of federal loans outstanding in your state, point your browser here.
Like what you've read? ...Republish it and share great business tips!
Attention: Readers, Publishers, Editors, Bloggers, Media, Webmasters and more...
We believe great content should be read and passed around. After all, knowledge IS power. And good business can become great with the right information at their fingertips. If you'd like to share any of the insightful articles on BusinessManagementDaily.com, you may republish or syndicate it without charge.
The only thing we ask is that you keep the article exactly as it was written and formatted. You also need to include an attribution statement and link to the article.
" This information is proudly provided by Business Management Daily.com: http://www.businessmanagementdaily.com/34051/2012-futa-credit-reduction-states-announced "