People who scoff at social security institutions like the federalstate unemployment insurance program typically don’t have a clear grasp on the insanity and injustice of unnecessary inequality. However, we’re not really here to tackle that endlessly twisted subject, we’re more interested in the New Jersey unemployment tax rate.
The unemployment funds are compiled by employers who pay the unemployment tax rates. There are some rules concerning the New Jersey unemployment tax rate of course.If you are an employer who pays more than $1,500 to an employee during any financial quarter, then as an employer you will be required to pay the state and federal unemployment tax rates. Another qualifying element is if you had any employee working any day of the work week during 20 weeks.
So what’s the New Jersey unemployment tax rate? It’s gone from 1.7825% to 2.6825% for 2012.
Each state has their own rules and rates concerning the unemployment tax rates. This whole program as referred to on the state level is called the SUTA tax. Technically however it’s an insurance program and not a tax.
The New Jersey Unemployment tax rates are not withheld from employees wages and salaries, they always come from the employers. If you don’t already know, calculating the unemployment tax rates by hand can be tedious to say the least. Plus there are legal requirements for doing these sorts of things on time. Many employers, mostly largescale businesses have to hire personnel for the sole purpose of calculating payroll, but if you’re a small business this may not be necessary for you.
Lucky for those of us conducting business here in the year 2012, there is a technology that can vastly simplify your payroll needs for figuring the New Jersey unemployment tax rates.
Quickbooks payroll software basically manages your payroll calculations in three steps. Over one million business owners are now using Quickbooks absurdly efficient software to handle many of their business accounting needs. It’s guaranteed to be accurate and to operate within the legal guidelines so there is no risk in handing over the menial tasks to its devices.If you’re looking for more information on the New Jersey unemployment tax rate, then head over to TurboTax and browse their extensive library tax information by searching for the subject you’re interested in.