West Virginia employers subject to the state’s unemployment insurance law will be subject to a new administrative fee under a bill effective July 1.
The administrative fee will be 7% of an employer’s total unemployment-taxable wages for the 12-month period ending the preceding June 30, under SB 1053. However, the fee amount may be reduced by Workforce West Virginia, the state’s unemployment insurance agency, so that the total amount collected from employers does not exceed $18 million annually.
The bill reduces employer unemployment tax rates by 7% to offset the administrative fee. It provides that employers with a zero ...