Minnesota Unemployment Insurance Tax Reduction Credit

During the month of June 2016, a letter was sent from Minnesota Unemployment Insurance in regards to a received credit. In March 2016, Governor Dayton signed a bill to amend the state’s Unemployment Insurance law and retroactively reduce the tax. Most Minnesota employers that paid unemployment tax in 2015 are eligible for the tax credit.

The credit will be applied directly to the employer’s Minnesota Unemployment account on July 1, 2016 and must be used between July 1, 2016 and June 30, 2017. The reduction is not available to be sent as a cash refund.

The credit will be automatically used if the wage detail report is filed directly through the Minnesota UI website. However, if a service is used, the service should be notified of the credit in order for it to be used.

Please feel free to contact your Lurie advisor with any questions.


Share Post: