What do state unemployment taxes (SUTA), state unemployment reserve balances and claims overpayment rates mean to your nonprofit? These factors could mean less money for your nonprofit organization’s cause.
75% Increased Tax Cost
Factors used in calculating employer state unemployment tax rates have increased, therefore increasing the average state unemployment tax cost per employee from $93 in 2009 to $162 by 2015.
12.5% Increase 2016 SUTA Tax Rate Increases
And it keeps climbing! Arizona state unemployment tax rates increased by 12.5% in 2016.
$37 Million Unemployment Claim Overpayments
Arizona’s April 2014 – March 2015 unemployment claim overpayment rate was 12.206%, equaling over $37 million.
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!
