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NJDOLWD Unveils Unemployment Insurance Payroll Tax Increase

219th Legislative Session Legislative Updates Workforce Updates
On August 13, the New Jersey Department of Labor & Workforce Development posted a "Notice of Employer Contribution Rates" for fiscal year 2021-2022. Employers will start making an increased payment Oct. 30, when the payroll tax for the third quarter (July 30 -September 30) is due. Employer contribution rates for FY21-22 will be changing to Tax Table C.
 
This change is projected to result in a $250 million hike in unemployment insurance payroll taxes to replenish the Unemployment Insurance (UI) Fund, which has been depleted during the COVID-19 pandemic.
 
The CCSNJ has called for and will continue to urge the Governor’s administration to use federal funds towards Unemployment Insurance Fund replenishment to assist New Jersey's recovering businesses.
 
To view the update on the NJDOLWD website, click here.
 
CCSNJ will continue to monitor and provide additional details on this developing issue. Should you have any questions, please contact Hilary Chebra, Manager of Government Affairs at hchebra@chambersnj.com.  
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