Vision Payroll

August 27, 2011

SD Taxpayers Receive Extension of Time to File Returns and Pay Taxes

Filed under: News — Tags: , , , — Vision @ 2:10 pm
SD Taxpayers Receive Extension of Time to File Returns and Pay Taxes
SD Taxpayers Receive Extension of Time to File Returns and Pay Taxes
Due to the damage caused by flooding in South Dakota beginning on March 11, 2011, President Barack Obama declared the following counties a federal disaster area: Charles Mix, Hughes, Stanley and Union. 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 March 10, 2011 and before March 29, 2011 as long as the deposits were made by March 28, 2011. In addition, affected taxpayers had until June 30, 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 the flooding and need further information on the relief provided by the IRS.

July 25, 2011

US Department of Labor Provides Funding to Assist Workers in Spearfish, South Dakota

US Department of Labor Provides Funding to Assist Workers in Spearfish, South Dakota
US Department of Labor Provides Funding to Assist Workers in Spearfish, South Dakota
The US Department of Labor today announced a $379,500 National Emergency Grant to provide training and employment services to about 200 workers affected by the closure of the Premier Bankcard call center in Spearfish, SD. The company announced in May that it would be closing the center and permanently laying off its workers.

DOL Secretary Solis Comments on Grant

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

Grant Awarded to the South Dakota Department of Labor

Awarded to the South Dakota Department of Labor, the grant will provide services that focus on supporting the needs of local industries, including health care and education.

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.

March 29, 2011

South Dakota Declares Emergency and Lowers Investment Fee

Filed under: News — Tags: , , , — Vision @ 5:50 pm
South Dakota Governor Dennis Daugaard
South Dakota Governor Dennis Daugaard recently signed SB 86 into law. SB 86 declares an emergency and revises the employer’s investment in South Dakota’s future fee or “investment fee”.

Employers with Low Reserve Ratios to Pay a Lower Investment Fee

Employers with a reserve ratio of less than 1% had their investment fee lowered from 0.55% to 0.53%, effective retroactively to January 1, 2011.

Investment Fee Payments Do not Affect An Employer’s Experience Rating

Investment fee payments may not be credited to the employer’s experience rating account and may not be deducted in whole or in part by any employer from the wages of individuals in its employ.

Contact Vision Payroll Today

Contact Vision Payroll today if you have further questions on changes to the South Dakota investment fee.

February 6, 2011

No Employer Surcharge for South Dakota in Q1 2011

Filed under: News — Tags: , , , — Vision @ 11:38 am
Pamela S. Roberts, Secretary of the South Dakota Department of Labor
Pamela S. Roberts, Secretary of the South Dakota Department of Labor
An employer surcharge is not in effect for Q1 2011 in South Dakota.

UI Trust Fund Balance Determines if Surcharge Is in Effect

The surcharge automatically goes into effect when the UI Trust Fund balance is below $11 million at the end of any quarter. The balance was $26.4 million on December 31, 2010.

Higher Wage Base in Effect for 2011

As previously announced, the taxable wage base increased from $10,000 for 2010 to $11,000 for 2011.

Contact Vision Payroll for Further Information

Contact Vision Payroll for further questions on the South Dakota employer surcharge.

October 8, 2010

Question of the Week: What is the Status of the South Dakota Employer Surcharge for Q4 2010?

This week’s question comes from Kevin, a business owner. We’ve been charged an employer surcharge in South Dakota for the first three quarters of 2010. What is the status of the South Dakota employer surcharge for Q4 2010? Answer: An employer surcharge is not in effect for Q4 2010 in South Dakota.

Pamela S. Roberts, Secretary of the South Dakota Department of Labor
Pamela S. Roberts, Secretary of the South Dakota Department of Labor
UI Trust Fund Balance Determines if Surcharge Is in Effect

The surcharge automatically goes into effect when the UI Trust Fund balance is below $11 million at the end of any quarter. The balance was $27.7 million on September 30, 2010.

No Surcharge Projected for Q1 2011

The South Dakota Department of Labor projects that the Trust Fund balance will be $25 million on December 31, 2010, so the surcharge would not be in effect for the first quarter of 2011.

Contact Vision Payroll for Further Information

Contact Vision Payroll for further questions on the South Dakota employer surcharge.

March 15, 2010

South Dakota Increases Taxable Wage Base Through 2015

Filed under: News — Tags: , , , , , , , — Vision @ 9:24 am

South Dakota Governor Mike Rounds recently signed SB 186, which increases the taxable wage base from $10,000 in 2010, to $11,000 in 2011, $12,000 in 2012, $13,000 in 2013, $14,000 in 2014, and $15,000 in 2015. The surcharge was reduced from 1.5% to 1.0% in 2010 and to 0.75% in 2011. The maximum rate for 2010 was increased, however, from 8.5% to 9.5%. Contact Vision Payroll if you have any questions on the South Dakota unemployment tax law changes.

December 12, 2009

South Dakota Unemployment Wage Base to Increase to $10,000

Filed under: News — Tags: , , , — Vision @ 9:23 pm

The South Dakota Department of Labor has announced an increase in the taxable wage base for 2010. The wage base will increase from $9,500 for 2009 to $10,000 for 2010. Contact Vision Payroll if you have any questions on the South Dakota unemployment taxable wage base or visit our Unemployment Taxable Wage Base page.

July 22, 2009

Tip of the Week: Minimum Wage Hikes Take Effect this Week

The federal minimum wage will increase to $7.25 on Friday, July 24, 2009. Therefore, all work performed after July 23, 2009 should be compensated at the higher rate. In addition, the minimum wage will also increase to $7.25 in the following areas: Delaware, Idaho, Indiana, Maryland, Missouri, Montana, Nebraska, New Jersey, New York, North Carolina, North Dakota, Oklahoma, Pennsylvania, Puerto Rico, South Dakota, Texas, Utah, Virginia, and Wisconsin. Also, the minimum wage in the District of Columbia will increase to $8.25. Contact Vision Payroll if you have any questions on the minimum wage increases.

July 20, 2008

State Minimum Wages to Increase

Several states have minimum wage increases effective for work performed after July 23, 2008. Idaho, Indiana, Maryland, Montana, Nebraska, New Hampshire, North Carolina, North Dakota, Oklahoma, Puerto Rico, South Dakota, Texas, Utah, and Virginia all have increases to $6.55 to match the federal minimum wage. The District of Columbia minimum wage increases to $7.55. Different minimum wages may be paid to certain classes of employees in some situations. Contact Vision Payroll if you have any questions on minimum wage law changes.

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