NJ payroll tax plan: Allow tax hike, then give credits to some
Businesses have been looking for help to avoid a hike in what they pay into the unemployment fund. They might instead get credits offsetting other taxes.
unemployment fund
NJ pays off its unemployment fund loan … but not for long
With May quarterly payments in the bank, the state was able to temporarily pay down its unemployment borrowing. It won't' be fully solvent until mid-2024.
Quarter-billion tax hike for NJ businesses for unemployment taxes
Though the unemployment fund is recovering faster than forecast, businesses must pay $252 million more into it over the next year.