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Nevada to hold unemployment insurance tax rate steady
After conversations between Nevada Governor Steve Sisolak and Department of Employment, Training and Rehabilitation, businesses will not see a change in the UI taxes next year
CARSON CITY, NV – Businesses will not face an unemployment insurance (UI) tax rate hike in 2022, Nevada Governor Steve Sisolak announced today.
The announcement comes after considerable analysis, conversation and discussion between the Governor’s Office, the Nevada Department of Employment, Training and Rehabilitation and the Nevada business community.
“I’ve done everything I can to support Nevada’s businesses, and this is one more step toward recovery from the ongoing effects of the pandemic. Since 2019, the Average Tax Rate has declined to its lowest level in more than a decade, and we intend to keep it low,” said Gov. Sisolak. “I appreciate the hard work of the Employment Security Council and the Employment Security Division Administrator to hear from all the stakeholders and come to a conclusion that protects Nevada’s businesses in this critical moment.”
Last month, the Employment Security Council (ESC) recommended an increase of the state UI tax on employers, from 1.65 percent to 2 percent. After considerable discussion with the business community, the Employment Security Division Administrator will put forth a regulation that holds the 1.65 percent average tax rate steady for 2022. The regulation will go before the ESC on December 18. For information on the public meeting visit this link https://detr.nv.gov/Page/Public_Meetings.
“The public comment process worked. We are open to hearing from our constituents and adjusting as needed to ensure the success of all Nevadans,” said Lynda Parven, Employment Security Division Administrator.
In addition to no change to the Average UI Tax Rate, DETR worked with other state agencies to use American Rescue Plan funds to repay federal loans used to continue unemployment benefits during the pandemic, resulting in no loans and no interest for the UI Trust Fund to repay.
“DETR worked with the legislature to relieve businesses of the cost of unemployment benefits for the second, third and fourth quarters of 2020 and the first, second, and third quarters of 2021. Their experience rating will also not be charged for the same six quarters,” said DETR Director Elisa Cafferata. “As we move forward, we will continue this type of collaboration on behalf of all Nevadans.”
The announcement comes after considerable analysis, conversation and discussion between the Governor’s Office, the Nevada Department of Employment, Training and Rehabilitation and the Nevada business community.
“I’ve done everything I can to support Nevada’s businesses, and this is one more step toward recovery from the ongoing effects of the pandemic. Since 2019, the Average Tax Rate has declined to its lowest level in more than a decade, and we intend to keep it low,” said Gov. Sisolak. “I appreciate the hard work of the Employment Security Council and the Employment Security Division Administrator to hear from all the stakeholders and come to a conclusion that protects Nevada’s businesses in this critical moment.”
Last month, the Employment Security Council (ESC) recommended an increase of the state UI tax on employers, from 1.65 percent to 2 percent. After considerable discussion with the business community, the Employment Security Division Administrator will put forth a regulation that holds the 1.65 percent average tax rate steady for 2022. The regulation will go before the ESC on December 18. For information on the public meeting visit this link https://detr.nv.gov/Page/Public_Meetings.
“The public comment process worked. We are open to hearing from our constituents and adjusting as needed to ensure the success of all Nevadans,” said Lynda Parven, Employment Security Division Administrator.
In addition to no change to the Average UI Tax Rate, DETR worked with other state agencies to use American Rescue Plan funds to repay federal loans used to continue unemployment benefits during the pandemic, resulting in no loans and no interest for the UI Trust Fund to repay.
“DETR worked with the legislature to relieve businesses of the cost of unemployment benefits for the second, third and fourth quarters of 2020 and the first, second, and third quarters of 2021. Their experience rating will also not be charged for the same six quarters,” said DETR Director Elisa Cafferata. “As we move forward, we will continue this type of collaboration on behalf of all Nevadans.”
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