Inslee signs business tax relief package, boosts unemployment benefits
Gov. Jay Inslee on Monday signed a business relief package that curbs unemployment taxes while expanding unemployment benefits for workers.
SB 5061, which was requested by the governor and approved with strong bipartisan support in both chambers of the state Legislature, relieves employers of individual benefit charges for unemployment claims that occurred during the governor’s “Stay Home, Stay Healthy” lockdown order, which lasted from March 22 to May 30.
The bill also caps certain tax rates through 2025 and will prevent a $1.7 billion increase in unemployment taxes over the next five years. The Legislature curbs more than $920 million in rate increases this year alone, Inslee said.
The legislation also alters the state’s Voluntary Contributions Program, allowing employers to buy down rate increases even further, the governor said.
https://www.bizjournals.com/seattle/news/2021/02/08/inslee-signs-business-tax-relief-package.html