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October 2, 2011

New England Unemployment Rate Drops To 7.8 Percent in August

Keith Hall, Commissioner of the Bureau of Labor Statistics
Keith Hall, Commissioner of the Bureau of Labor Statistics
The New England unemployment rate was essentially unchanged at 7.8% in August, the US Bureau of Labor Statistics reported recently. Regional Commissioner Denis M. McSweeney noted that the over-the-year change in New England’s unemployment rate was not statistically significant. The national jobless rate was unchanged at 9.1%, but was 0.5 percentage point lower than a year earlier.

Pacific Division Continues to Report Highest Rate

New England is one of nine geographic divisions nationwide. Among the nine divisions, the Pacific continued to report the highest unemployment rate, 11.2% in August. The West North Central again registered the lowest rate, 6.9%. Over the month, the East North Central was the only division to experience a statistically significant unemployment rate change (+0.2 percentage point). The East North Central also recorded the only significant rate change among divisions over the year (-0.6 percentage point).

Four New England States Have Significantly Lower Rates than Rest of Nation

In August, five of the six New England states posted jobless rates that were significantly different from that of the United States. New Hampshire (5.3%), Vermont (5.9%), Massachusetts (7.4%), and Maine (7.6%) recorded lower-than-average unemployment rates and were among 25 states in the country to do so. In fact, New Hampshire reported the fourth-lowest jobless rate nationwide. In contrast, Rhode Island (10.6%) had the highest jobless rate among the New England states and was among eight states and the District of Columbia with rates significantly higher than the national average. Connecticut was among the 17 remaining states that registered unemployment rates that were not appreciably different from that of the nation.

No New England State Had a Significant Rate Increase in August

In August, seven states and the District of Columbia posted statistically significant rate increases from July. The six New England states were among the 43 remaining states that registered jobless rates that were not measurably different from those of a month earlier, though some had changes that were at least as large numerically as the significant changes.

Most States Had Minimal Change over the Last Year

Over the year, five states recorded statistically significant unemployment decreases. The District of Columbia posted the only significant rate increase from a year earlier (+1.3 percentage points). The six New England states were among the 45 states that registered jobless rates not appreciably different from those of a year earlier.

September 12, 2011

NH Taxpayers Affected by Tropical Storm Irene Receive Extension of Time to File Returns and Pay Taxes

Filed under: News — Tags: , , , , — Vision @ 11:46 am
Hurricane Irene, Courtesy of NASA/NOAA GOES Project
Hurricane Irene, Courtesy of NASA/NOAA GOES Project
Due to the damage caused by Tropical Storm Irene in New Hampshire beginning on August 27, 2011, President Barack Obama declared the following counties a federal disaster area: Carroll and Grafton. Individuals who reside or have a business in these counties may qualify for tax relief.

Declaration Leads to Extension of Payroll Tax and Other Deadlines

Therefore, the Internal Revenue Service (IRS) announced recently that it will waive failure to deposit penalties for employment and excise taxes due after August 26, 2011 and before September 13, 2011 as long as the deposits are made by September 12, 2011. In addition, affected taxpayers have until October 31, 2011 to file most tax returns.

Vision Payroll Is Here to Help Affected Taxpayers with Payroll Tax Issues

Contact Vision Payroll if you were affected by Tropical Storm Irene and need further information on the relief provided by the IRS.

August 30, 2011

New England Unemployment Rate Jumps To 7.9 Percent in July

Keith Hall, Commissioner of the Bureau of Labor Statistics
Keith Hall, Commissioner of the Bureau of Labor Statistics
The New England unemployment rate was essentially unchanged at 7.9% in July, the US Bureau of Labor Statistics reported today. Regional Commissioner Denis M. McSweeney noted that the over-the-year change in New England’s unemployment rate was not statistically significant. The national jobless rate was little changed at 9.1%, but was 0.4 percentage point lower than a year earlier.

Pacific Division Reported Highest Rate

New England is one of nine geographic divisions nationwide. Among the nine divisions, the Pacific continued to report the highest unemployment rate, 11.2% in July. The West North Central again registered the lowest rate, 6.8%. Over the month, two divisions experienced statistically significant unemployment rate changes: the East North Central (+0.3 percentage point) and Pacific (+0.2 point). Over the year, the East North Central recorded the only significant rate change among divisions (-1.0 percentage point).

Five New England States Have Significantly Lower Rates than Rest of Nation

In July, five of the six New England states posted jobless rates that were significantly different from that of the United States. New Hampshire (5.2%), Vermont (5.7%), Massachusetts (7.6%), and Maine (7.7%) recorded lower-than-average unemployment rates and were among 25 states in the country to do so. In fact, New Hampshire reported the fourth-lowest jobless rate nationwide. In contrast, Rhode Island (10.8%) had the highest jobless rate among the New England states and the fifth-highest jobless rate in the nation. Rhode Island was among eight states and the District of Columbia that had unemployment rates significantly higher than the national average. Connecticut was among the 17 remaining states in recording unemployment rates not appreciably different from that for the nation.

New Hampshire Has Significant Rate Increase in July

In July, New Hampshire was the only New England state and one of 10 states nationwide to report a statistically significant unemployment rate change from June (+0.3 percentage point). The District of Columbia also experienced a significant over-the-month rate increase (+0.4 percentage point). The remaining five New England states were among the 40 states that registered jobless rates that were not measurably different from those of a month earlier, though some had changes that were at least as large numerically as the significant changes.

Most States Have Minimal Change over the Last Year

Over the year, 11 states recorded statistically significant unemployment rate changes, all decreases. The six New England states were among the 39 states and the District of Columbia that registered jobless rates not appreciably different from those of a year earlier.

August 8, 2011

New Hampshire Unemployment Wage Base to Increase for 2012

Filed under: News — Tags: , , , , , , — Vision @ 7:34 pm
New Hampshire Unemployment Wage Base to Increase for 2012
New Hampshire Unemployment Wage Base to Increase for 2012
The New Hampshire Department of Employment Security has announced an increase in the taxable wage base for 2012. The wage base will increase from $12,000 for 2011 to $14,000 for 2012.

Third Consecutive Year the Wage Base Has Increased

This is the third consecutive year the wage base will increase. In 2010, it increased from $8,000 to $10,000 and in 2011 it increased from $10,000 to $12,000.

Find Out the Wage Base for All States by Visiting the Vision Payroll Unemployment Taxable Wage Base Page

Contact Vision Payroll if you have any questions on the New Hampshire unemployment taxable wage base or visit our Unemployment Taxable Wage Base page.

July 23, 2011

US Department of Labor Provides Funding to Assist Workers in Rochester, New Hampshire

US Department of Labor Provides Funding to Assist Workers in Rochester, New Hampshire
US Department of Labor Provides Funding to Assist Workers in Rochester, New Hampshire
The US Department of Labor (DOL) recently announced a $248,878 National Emergency Grant to provide training and re-employment services for about 60 workers affected by layoffs at Thompson/Center Arms in Rochester, NH, which began in January and will continue through the end of the year.

DOL Secretary Solis Comments on Grant

“This grant will help these dislocated workers by equipping them with the skills necessary to obtain good, stable jobs in New Hampshire’s high-growth industries,” said Secretary of Labor Hilda L. Solis.

Southern New Hampshire Services, Inc. Will Operate Grant

Awarded to the New Hampshire Department of Resources and Economic Development, the grant will be operated by Southern New Hampshire Services, Inc. to prepare the workers for other manufacturing positions available in the area, as well as for positions in non-manufacturing companies in the southern New Hampshire labor market.

Thompson/Center Arms Is Part of Smith & Wesson Holdings

Thompson/Center Arms is a firearms manufacturer that produces pistols, rifles and accessories. The company became a part of Smith & Wesson Holdings in 2007.

National Emergency Grants Are Part of Discretionary Fund

National Emergency Grants are part of the secretary of labor’s discretionary fund and are awarded based on a state’s ability to meet specific guidelines.

July 4, 2011

New Hampshire Ties State Minimum Wage To Federal Minimum Wage

Filed under: News — Tags: , , , — Vision @ 12:21 pm
NH Senate President Peter Bragdon
NH Senate President Peter Bragdon
The New Hampshire General Court voted to override the veto of Governor John Lynch and to enact HB 133, AN ACT relative to the minimum wage. The law will require the New Hampshire minimum wage to be linked to the federal minimum wage and is effective August 21, 2011.

No Change in Current New Hampshire Minimum Wage

Since the New Hampshire state minimum wage is $7.25 per hour, the same as the federal minimum wage, there will be no immediate impact to minimum wage employees in New Hampshire.

Find Out the Minimum Wage for All States by Visiting the Vision Payroll Minimum Wage Chart Page

Contact Vision Payroll if you have any questions on the New Hampshire minimum wage increase or visit our Minimum Wage Chart.

March 4, 2011

Question of the Week: What Is a Taxable Wage Base?

What Is a Taxable Wage Base?
What Is a Taxable Wage Base?
This week’s question comes from April, an office manager. I’ve read that the taxable wage base has increased in New Hampshire for 2011, but I’m not sure of the impact. What is a taxable wage base? Answer: The taxable wage base is the amount of income that will be taxed in a particular year.

New Hampshire Taxable Wage Base Is $12,000

For 2011, the New Hampshire taxable wage base is $12,000. Therefore, all subject wages earned during 2011 by an employee up to $12,000 will be taxed for New Hampshire unemployment purposes. Once $12,000 of wages have been taxed for New Hampshire unemployment purposes, no additional New Hampshire unemployment tax will be due for that employee for the rest of 2011.

Taxable Wage Bases Range from $7,000 to $37,300

For 2011, the federal taxable wage base is $7,000. Three states, Arizona, California, Florida and Puerto Rico all have the lowest taxable wage base of $7,000. Washington has the highest taxable wage base at $37,300.

Find Out the Wage Base for All States by Visiting the Vision Payroll Unemployment Taxable Wage Base Page

Contact Vision Payroll if you have any further questions or visit our Unemployment Taxable Wage Base page.

February 12, 2011

New Hampshire Announces Surcharge to Remain in Effect for 2011

Filed under: News — Tags: , , , — Vision @ 10:49 am

The New Hampshire Department of Economic Security (NHDES) has announced that because of the amount of unemployment benefits having been paid out and the solvency issue with the Unemployment Trust Fund, the NHDES will continue to invoke the 1.0% surcharge to all employers for all quarters of 2011. This 1.0% surcharge is comprised of the 0.5% Emergency Power under RSA282-A:84 and the 0.5% Emergency Surcharge under RSA282-a. Negative rated employers (employers whose benefit charges exceeded tax paid) will also continue to have a 1.5% added to their tax rates in addition to the 1.0% surcharge for all quarters of 2011.

Taxable Wage Base Has Also Increased

As previously announced, the Taxable Wage Base has also increased to $12,000 effective January 1, 2011 and will be increasing to $14,000 effective January 1, 2012.

2011 New Employer Rates Set

New Employer rates for all quarters of 2011 will be 3.7% (includes 1.0% surcharge).

Contact Vision Payroll for Further Information

Contact Vision Payroll if you have further questions on New Hampshire unemployment taxes.

July 20, 2010

New Hampshire Unemployment Wage Base to Increase to $12,000 in 2011

Filed under: News — Tags: , , , — Vision @ 6:05 pm

The New Hampshire Department of Employment Security has announced an increase in the taxable wage base for 2011. The wage base will increase from $10,000 for 2010 to $12,000 for 2011. The taxable wage base will also increase to $14,000 for 2012. Contact Vision Payroll if you have any questions on New Hampshire unemployment taxable wage base or visit our Unemployment Taxable Wage Base page.

July 2, 2010

Question of the Week: Do I Need To Withhold State Tax on Wages Paid to Non-Residents?

This week’s question comes from Aaron, a business owner. We have several employees who work in Massachusetts, but live in neighboring states. Do I need to withhold state tax on wages paid to non-residents? Answer: Massachusetts requires employers to withhold state tax from wages paid to non-residents for services performed in Massachusetts. Most states have similar requirements that employers withhold tax on non-residents, but some states do not require withholding until a certain time or dollar limits are reached. Additionally, some states have setup reciprocal agreements with other states that allow the employees to be taxed in their home states. Massachusetts (and many other states) has special rules for unique occupations such as athletes, entertainers, and flight crewmembers. Contact Vision Payroll for further information on your unique situation.

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