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NH Business Review
State takes action to shore up trust fund and avoid ‘sticker shock’ for employers
December 15, 2020
Deputy Department of Employment Security Commissioner Richard Lavers
Unemployment compensation taxes in New Hampshire will probably decrease next year, and remain at that level, for all of 2021, thanks to an influx of unspent CARES Act funds, Deputy Employment Security Commissioner Richard Lavers told business leaders during a remote conference on Tuesday.
Those funds will be crucial in keeping the unemployment trust fund at a high enough level to prevent triggering tax increases. In November, the Governor’s Office of Emergency Relief and Recovery had already transferred $50 million in CARES Act money to the trust fund to not only prevent the base tax rate from going up, but also to bring it down a half-percent, to 2.7%. ....

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