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Voluntary contribution could cut unemployment-insurance costs
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Published: November 28, 2009
RALEIGH -- Many employers in North Carolina may be able save on their 2010 unemployment-tax expense by acting soon, the N.C. Employment Security Commission says.
By making a voluntary tax contribution to the commission before Dec. 16, employers could be eligible for a cut in their unemployment-insurance tax rate, saving from as little as $50 to as much as $1 million next year, depending on the size of their work force, according to the commission.
Information about the voluntary contribution was included in new unemployment-tax-rate forms, which were mailed to employers in mid-November.
Only employers with a certain history of layoffs or steady employment are eligible to make the voluntary contribution. New employers' rates are set, by law, at 1.2 percent for about two years, according to the commission.
The money paid in advance would come to the commission during a period -- the first quarter -- when revenue received from employers' taxes is the lowest of the year, the agency reports.
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