Maryland Unemployment Insurance Taxes: What Will 2021 Bring?

Date: December 02, 2020

NFIB working with key legislators to mitigate expected sharp increases

Earlier this week, the Department of Legislative Services (DLS) published their annual Issue Papers. The state’s Unemployment Insurance Trust Fund (UITF) was among the first items to be reviewed by the nonpartisan research department. The $1.4 billion in payments made from March through September 2020 has nearly depleted the UITF, requiring the State to seek authorization of a $300 million loan from the federal government. The conclusion by DLS is that employers’ UI taxes are expected to increase dramatically in 2021.

NFIB is working on legislation with key policy makers and representatives from the Hogan administration to ease the potential increases. Waiving benefit charges against the earned rating record of an employer who had to lay off or furlough employees due to government forced shutdowns is the subject of one bill. NFIB is also looking at current statute dictating how Maryland moves up or down in the UI tax table and possible legislation that may help avoid large jumps year over year.

Related Content: Small Business News | Maryland

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