Did you know that Washington’s unemployment wage base increased to $44,000 in 2016?
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 your nonprofit organization’s cause.
$686 Average SUTA Cost Per Employee
Factors used in calculating employer state unemployment rates have increased; therefore increasing the average unemployment tax cost per employee by 37% since 2009.
$157 Million Unemployment Claim Overpayments
Washington’s April 2014 – March 2015 unemployment claim overpayment rate was 15.623%, equaling over $157 Million.
$44,000 2016 Wage Base
Washington’s unemployment wage base increased from $42,100 in 2015 by $1,900 to $44,000 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!