According the U.S. Department of Labor (DOL), 20 states and the Virgin Islands could not pay the loans they borrowed from the Federal Unemployment Account (FUA) to continue to pay unemployment benefits after their unemployment insurance (UI) trust funds became insolvent by the November 10, 2011 deadline. As a result, they will lose the full Federal Unemployment Tax Act (FUTA) credit for 2011. With the IRS’s release of federal Form 940 and Schedule A (Form 940), the determinations of the credit reduction states for 2011 is made official. Here is a list of the states that are subject to a FUTA credit for 2011.
Arkansas 0.3%
California 0.3%
Connecticut 0.3%
Florida 0.3%
Georgia 0.3%
Illinois 0.3%
Indiana 0.6%
Kentucky 0.3%
Michigan 0.9%
Minnesota 0.3%
Missouri 0.3%
Nevada 0.3%
New Jersey 0.3%
New York 0.3%
North Carolina 0.3%
Ohio 0.3%
Pennsylvania 0.3%
Rhode Island 0.3%
Virgin Islands 0.3%
Virginia 0.3%
Wisconsin 0.3%
For more information, check out:
http://www.irs.gov/businesses/small/article/0,,id=250782,00.html
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