MICHIGAN ALTERS UNEMPLOYMENT INSURANCE TAXABLE WAGE LIMIT

By March 15, 2016 Blog

Michigan has amended its Employment Security Act for 2016. 

The state seems to be comfortable with its current unemployment trust fund balance of approximately $2,500,000,000. The state is also projecting that its balance will remain above that level. Therefore, they are lowering the taxable wage limit from $9,500 to $9,000 for employers who are not delinquent in the payment of unemployment contributions, penalties or interest.

However, if the unemployment trust fund balance does not meet expectations during a reassessment on June 30, the $9,500 taxable wage limit will again apply to all employers in the next calendar year.

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