An informative webinar, hosted by the Derby, KS Chamber of Commerce.
A discussion about unemployment tax insurance does not sound fun at all. However, unless something is done at the state level, all businesses and organizations that have employees will see major changes in how much they pay yearly for unemployment tax insurance.
You may not think this pertains to you, but it most certainly does.
Regardless if your employer or company used unemployment benefits in 2020, YOU WILL SEE AN INCREASE if HB 2196 and SB 177 are not passed.
For example; a business that has ten employees currently pays about $280 per year in unemployment tax. The amount due would increase to $2,520 in 2022. A business with 100 employees currently pays about $2,800 per year in unemployment tax. The amount due would increase to $25,200 per year in 2022.
Kansas was ranked 3rd in the nation for initial unemployment claims for the week ending 01/16/21 only behind California and Illinois. Week ending 01/23/21 placed Kansas 2nd in the nation.
The week ending 1/16/21, Kansas paid out 66,323 unemployment claims. While the four bordering states (Nebraska, Missouri, Oklahoma, and Colorado) had a combined 33,887 unemployment claims that same week. Almost double what our four neighboring states had.
If nothing is done, many employers could have an unemployment bill higher than their state income tax bill in coming years. Watching this video for an hour will be well worth your time. Whether you are an employer or an employee.
If you are so inclined, please reach out to your state legislators and ask for their support of HB 2196 and SB 177. Click here to look up your legislators by your home and work addresses. Both houses are working on the legislation today. Legislation should be out of committee within the coming days and a floor vote is expected soon.
The financial well-being of all Kansas employers is at stake!