Maryland to cut unemployment insurance tax

Catastrophe Bonds Insurance News

Unemployment insurance tax to be reduced next year Maryland employers can expect to see the tax they pay for the state’s unemployment insurance program drop significantly next year. The Department of Labor, Licensing, and Regulation has announced the tax cut, which will reduce the unemployment insurance tax employers pay by as much as 50%. The tax cut will take effect next year and is being heralded as a sign of the state’s improving economy and employment situation. For some employers, the tax cut could mean that they will be able…

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Unemployment insurance rates spike in Alaska, Governor balks at current law

The Alaskan Department of Labor has issued notifications to businesses throughout the state letting them know that they will be paying more for unemployment insurance next year. The new rates have yet to be reviewed by the state’s insurance regulators, but insurance companies claim that higher rates are necessary to ensure that the state’s unemployment trust fund remains solvent and that insurers themselves have to recover from high unemployment rates. Governor Sean Parnell argues that the rates are excessive, as the state’s trust fund holds more than $234 million and…

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