Minnesota Gov. Tim Walz signed a new law to "carry over" Unemployment Insurance (UI) tax rates from 2020 into 2021.
This new law, which the governor signed on Tuesday, Feb. 2, will help ensure that pandemic-related unemployment in 2020 does not affect 2021 tax rates.
Employers can now view their 2021 tax rate factors in their online accounts. They will also receive a mailed determination with their tax rate information, according to the Minnesota Department of Employment & Economic Development (DEED).
DEED has been working with legislators to bring more stability to employers who are also dealing with many other impacts of COVID-19.
"Minnesota businesses have experienced devastating impacts from COVID-19, that's why I'm pleased the first bill the legislature passed provides clarity and relief to Minnesota employers by keeping their UI tax rates as steady as possible," DEED Commissioner Steve Grove said in a statement. "We are moving as quickly as possible to get information out to employers, and we're asking them to check their Unemployment Insurance accounts immediately for updated guidance from this new law."
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UI tax rates are calculated for each individual business based on their employment history and the current balance of the UI Trust Fund.
Employers should check their employer UI accounts immediately. For the most updated information, visit www.uimn.org , select "Employers & Agents", then select Information for employers affected by COVID-19.
