Every year, in the middle of the first quarter, New York State updates State Unemployment Insurance Rates for each company doing business in the State. Please note that the SUI wage limit has been raised by New York State from $8,500 to $10,300 per employee starting in 2014.
Your NY SUI Rate may increase, decrease or stay the same depending on the number of terminated employees you had using unemployment insurance in the last calendar year as well as other determining factors. Since these rate changes are retroactive to January 1st, you may be entitled to a refund or be responsible for an additional tax impound.
If you are a CPP customer, please watch your email for a notice from CPP if your SUI rate has changed. This notice will inform you of the amount of any refund or additional impound and the date funds will be transferred.
New York State will also issue a letter to you detailing your SUI Rate change. Please forward a copy of this letter to your CSR as soon as you receive it.
If you have any questions, please contact Complete Payroll Processing.