These factors could mean less money for your nonprofit organization’s cause
49% 2009-2015 Increased Tax Cost
North Carolina owed more than $2.6 billion to the federal government in 2011. This loan was used to pay excess unemployment claims the state unemployment fund could not cover. In order to replenish the fund, factors used in calculating employer unemployment tax rates were increased, therefore increasing the average unemployment tax cost per employee by 49% since ’09.
$78 Million Unemployment Claim Overpayments
The North Carolina April 2014-March 2015 unemployment claim overpayment rate was 19.988% equaling over $78 million.
$22,300 2016 Wage Base Increase
The wage base is the maximum amount on which an employer must pay unemployment taxes on for each employee. North Carolina increased its unemployment wage base from $21,700 to $22,300 in 2016.
There are options to financing your nonprofit organization’s state unemployment costs
First Nonprofit Group provides more than 1,800 nonprofit organizations and governmental entities around the country with unemployment insurance at affordable rates. Click here or call 1-(800) 526-4352 to request a free, no-obligation cost savings evaluation. Evaluations include a 2017 rate projection!
