Deductions to begin next October
The Maryland Department of Labor (DOL) announced last week the initial payroll tax rate for the new Family and Medical Leave Insurance (FAMLI) State Plan. The rate will be 0.90% of covered wages, and it will be equally divided between employees and employers with 15 or more workers. Employers with 14 or fewer workers are not required to contribute the employer portion.
Deductions will start October 1, 2024. The rate is in effect through June 30, 2026.
>>> More information from the DOL’s website can be found here.
