NJBIA - New Jersey Business & Industry Association
New Jersey Business & Industry Association
The IRS reminded employers today to carefully choose their payroll service providers following continuing concerns that some disreputable organizations can fail to deposit employment taxes, leaving businesses vulnerable to unpaid bills. Many employers outsource their payroll and related tax duties to third parties. This streamlines business operations by collecting and timely depositing payroll taxes on […]
The Senate Labor Committee today voted to exclude unemployment benefits paid during the pandemic from the calculation of employer contributions to the state unemployment insurance system. NJBIA testified in favor of the bill. The legislation, S-2504 (Ruiz, D-29), would protect businesses from having to pay higher rates for unemployment insurance because their businesses were shut […]
The House Ways and Means Committee held a legislative hearing Thursday on the Social Security 2100 Act, a bill that would increase the Social Security Tax to 14.8%, a 2.4 percentage point increase or about a 20% tax increase. If enacted, both businesses and employees would see their payroll taxes increase to 7.4% each. The […]
Legislation allowing Jersey City to impose a 1 percent employer payroll tax would add yet another expense to businesses already facing a host of costly mandates in the highest taxed state in the nation, the New Jersey Business & Industry Association (NJBIA) said today. The Senate is scheduled today to vote on S-2581/A-4163, which would […]
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