SB 246 - Temporary Unemployment Compensation Tax Increase for Employers - West Virginia Key Vote

Stage Details

Title: Temporary Unemployment Compensation Tax Increase for Employers

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Title: Temporary Unemployment Compensation Tax Increase for Employers

Vote Smart's Synopsis:

Vote to pass a bill to increase the solvency of the State Unemployment Fund by raising the unemployment tax on employee wages from $8,000 to $12,000, until the fund reaches a total of $220 million, at which point the tax will be reduced to $9,000.

Highlights:

-Creates Workforce West Virginia, which is composed of the Divisions of Unemployment Compensation, Employment Service, Workforce Development, Research Information and Analysis, and any other divisions deemed necessary (Article 1). -Requires the Director of Workforce West Virginia to create an employer violation system designed to identify individuals and employers who have failed to pay assessments, surcharges, taxes, or penalties owed, and may prevent them from obtaining any licenses or permits until the balance is paid (Article 1). -Sets the threshold wage that an employer pays unemployment taxes on at $12,000 per year, which will be reduced to $9,000 on the first February 15th that the unemployment fund reaches $220 million (Article 1). -Outlines requirements needed to receive unemployment benefits, and factors that justify disqualification (Article 6).

Title: Temporary Unemployment Compensation Tax Increase for Employers

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