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New York Minimum Wage: Scheduled Increases in New York and NYC

In April 2016 Governor Cuomo signed legislation as part of the 2016-2017 New York State budget that would call for yearly incremental increases of the New York minimum wage eventually leading to a rate of $15/hour in New York. With the new rates scheduled to take effect at the end of 2016, the plan is set up to provide varied rate increases for businesses operating in New York City, Long Island/Westchester County, and the rest of the greater New York State ... Read more

FUTA Credit Reduction 2013

The FUTA tax levies a federal tax on employers covered by a state’s UI program. The standard FUTA tax rate is 6.0% on the first $7,000 of wages subject to FUTA. The funds from the FUTA tax create the Federal Unemployment Trust Fund, administered by the United States Department of Labor (DOL). Generally, employers may receive a credit of 5.4% when they file their Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return, to result in a net FUTA tax rate of ... Read more

What is the NY Interest Assessment Surcharge?

The Interest Assessment Surcharge (IAS) is assessed by the NY Department of Labor to help NY state cover the interest on it's federal loan. In 2008 and 2009 New York's Unemployment Insurance Trust Fund did not have enough funds to pay for claims filed by unemployed workers, so the state borrowed from the federal government to cover the shortfall. The debt from the loan is $3.5 billion according to the NY DOL website with $85 million due in interest for 2013. ... Read more

Reasons To Pay Employees By Direct Deposit

Here are some reasons why your employees will love being paid by direct deposit. Direct Deposit is Simple: There is no need to go to the bank to deposit checks. Your money is automatically deposited into your account on time, every time - and you don't have to be at work - or even in town! Direct Deposit is Safe: Direct Deposit payments never get lost. Money is transferred electronically and passes through fewer hands than a check. Almost 85 percent of identity theft starts with someone seeing your ... Read more

Important Health Care Reform Deadline – October 1, 2013

Important Health Care Reform Deadline - By October 1, 2013, virtually all US employers (regardless of size or whether the employer offers a health plan) are required to distribute a Notice of Exchanges and Subsidies to each employee (regardless of part-time, temporary, full-time or health plan enrollment status). Also, beginning on October 1, 2013, this notice must be provided to each new employee within 14 days of the employee’s start date. There are two model notices available, one for employers that ... Read more

New York Minimum Wage Set To Increase

On March 29, 2013 Gov. Andrew Cuomo signed legislation that increases the New York State minimum wage starting December 31, 2013. On December 31, 2013 the minimum wage rate will go from $7.25 to $8.00 per hour. The legislation provides that New York minimum wage will increase to $8.75 after December 31, 2014 and again to $9.00 after December 31, 2015. $8.00 on December 31, 2013 $8.75 on December 31, 2014 $9.00 on December 31, 2015   An increase for tipped employees was not included in the ... Read more

Enhanced Payroll Relief is Almost Here!

The new payroll relief will launch on August 4th! The new system was built using the most modern, and sophisticated cloud technology available. While the calculation engine remains unchanged, the revamped system will make it faster and easier to access data and process payroll. Compatibility with all major browsers. (Internet Explorer, Chrome, Firefox, and Safari) Better performance on mobile devices, including the iPad. Enhanced interface to improve user experience and increase productivity. More efficient processing for larger payrolls. Many requested enhancements not possible with the older ... Read more