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NJ businesses to see gradual increase in unemployment taxes

Revenue from the tax will replenish the state’s unemployment insurance trust fund.

01/05/2021

NJ Spotlight News

NJ businesses to see gradual increase in unemployment taxes

Clip: 1/5/2021 | 2m 29sVideo has Closed Captions

Revenue from the tax will replenish the state’s unemployment insurance trust fund.

The new law phases in the tax increases, rather than implementing a hefty increase on businesses all at once. Revenue from the tax is used to replenish the state’s unemployment insurance trust fund, which has been depleted due to New Jersey’s high level of unemployment.

01/05/2021

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NJ Spotlight News is a local public television program presented by THIRTEEN PBS

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