Notice of Employer Contribution Rates for New Jersey Employers
Did you receive your “New Jersey Notice of Employer Contribution Rates” yet?
Every year at the end of July every employer subject to NJ unemployment taxes receives a “Notice of Employer Contribution Rates”. The form (it’s a purple-blue color) is mailed from The State of New Jersey Department of Labor and Workforce Development. The purpose of the form is to advise the employer what their unemployment and disability tax rates are for the next year.
·?????? If you have an Employer Access Account with the NJ Department of Labor and Workforce Development, you can download your rate notice for fiscal year 2024-25 here.
Unemployment and Temporary Disability contribution rates in New Jersey are assigned on a fiscal year basis (July 1st?to June 30). All new employers (except successors) are assigned new employer rates for the first?three calendar years, after which a calculated rate is assigned based on employment experience.
·?????? You can find an explanation of how rates are calculated and a listing of the new employer rates for the current and?the previous four years from the Department of Labor here.
Be sure to update the rates in your payroll system or forward your rate notice to your payroll company so the proper amount of tax can be calculated and remitted to NJ. Also, please note that the rates are retroactive and if your rate does change, your tax liability needs to be recalculated back to July 1 and then your account credited/debited for any differences.
The NJ Department of Labor has compiled some essential information regarding Unemployment & Disability Insurance Programs into an Employer Accounts Guide you can download here.
We’re here to help. Reach out if you have any questions.