WASHINGTON, Jan. 12 -- Employment and Training Administration has issued a notice called: Notice of the Federal Unemployment Tax Act (FUTA) Credit Reductions Applicable for 2025.
The notice was published in the Federal Register on Jan. 12 by Susan Frazier, Acting Assistant Secretary for Employment and Training, Labor.
Summary: Sections 3302(c)(2)(A) and 3302(d)(3) of FUTA provide that employers in a state that has outstanding advances under Title XII of the Social Security Act on January first of two or more consecutive years are subject to a reduction in credits otherwise available against the FUTA tax for the calendar year in which the most recent such January first occurs, if advances remain on November 10 of that year. Further, Sectio...