What do state unemployment taxes (SUTA), state unemployment reserve balances and claim overpayment rates mean to your nonprofit?
These factors could mean less money for you nonprofit organization’s cause.
59% Increased Tax Cost
In order to rebuild Oregon’s diminishing state unemployment reserve fund, caused by the most recent recession, factors used in calculating employer unemployment rates were increased; therefore increasing the average unemployment tax cost per employee from $598 in 2009 to $953 by 2015.
$60 Million Unemployment Claim Overpayments
Oregon’s April 2014-March 2015 unemployment claim overpayment rate was 11.258%, equaling over $60 million
$36,900 2016 Wage Base
Oregon’s unemployment wage base increased from $35, 700 in 2015 by $1,200 to $36,900 in 2016; therefore increasing the wages on which employers pay SUTA on.
There are options to financing your nonprofit organization’s 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!
