What do state unemployment taxes (SUTA), wage base increases and claim overpayment rates mean to your nonprofit?
These factors could mean less money for your nonprofit organization’s cause.
$407 Average SUTA Cost Per Employee
In 2015, Iowa’s average state unemployment tax cost per employee was about $407.
$48 Million Improper Claim Payments
Iowa’s July 2014-June 2015 improper unemployment claim payment rate was 11.235%, equaling over $48 million.
$28,300 2016 Wage Base
Iowa’s unemployment wage base increase from $27,300 in 2015 to $28,300 in 2016; therefore increasing the wages on which employers pay SUTA on.
There are options to financing your nonprofit organization’s unemployment costs
First Nonprofit Group provides state compliant, individually insured, cost-saving options to satisfy SUTA (State Unemployment Insurance Tax) requirements for nonprofit and governmental entities. Below is a sample savings analysis of one of our members since 2011.
First Nonprofit Group provides state compliant individually insured, cost-saving options to satisfy SUTA requirements for nonprofit, governmental and tribal entities. We provide more than 1,800 organizations around the country with unemployment insurance at affordable rates. Click here or call 1-(800) 526-4352 to request a free, no-obligation cost saving evaluation. Evaluations include a 2017 rate projection!
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