UI Taxes the Focus of 2021 Small Business Day

Date: May 05, 2021

NFIB, along with several other business groups, virtually hosted the 2021 Massachusetts Small Business Day event with a focus on unemployment insurance costs. As many business owners experienced surprise at the quarter 1 unemployment tax bills, NFIB wanted to make sure the issue was given proper attention.

 

On Day 1, Evan Murphy of UTCA, Inc gave a presentation showing how the solvency assessment problem began as a result of the COVID-19 crisis. Murphy showed participants how to calculate their estimated UI tax costs for 2021. He showed real-world examples of Q1 UI bills ranging from increases of $20,000 to $3 million for Massachusetts employers. Following the UI presentation business owners learned more about legislative policy pending before the Massachusetts Legislature. Business owners were urged to take action requesting federal funds be used for UI here.

 

Day 2 features two guest speakers. First, Mike Doheny, Undersecretary of the Executive Office of Labor and Workforce Development, gave a behind the scenes perspective on the UI crisis and the recognition that additional steps are required to address the problem. The keynote speaker, Senate Minority Leader Bruce Tarr joined the program to talk about a bill he cosponsored allocating billions in federal aid to the UI Trust Fund to offset costs for employers. Tarr urged business owners to be in touch with their lawmakers to explain what high UI taxes mean for your business. A call to action was issued urging participants to contact members of the Joint Committee on Labor and Workforce Development that can be found here.

 

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