Labor Department Delays FUTA Credit Reduction Announcement

Payroll on Bloomberg Tax is built to get you to the right answer faster and more efficiently. Get all the payroll intelligence you need with Bloomberg Tax expert analysis, perspectives and...

An announcement on Federal Unemployment Tax Act credit reduction relief for states was delayed by several weeks because of caseload requirements, the Labor Department said Sept. 29. Fifth-year waiver applications, which can allow states to avoid benefit-cost rate add-on credit reductions, were submitted for 2014 by California, Indiana, Kentucky, New York, North Carolina, Ohio and Rhode Island. South Carolina submitted a credit-reduction avoidance application for 2014, which if approved would cause the state to have no reduction for 2014. The department is to announce about Nov. 10 the states that have credit reductions for 2014, and the applicable reduction percentages.


Request Payroll