Monday, November 28, 2011

EDD Tax Branch News #156 (California Business Owners)

I received an email from SB Cal board member, Stephen Cornell, regarding changes in California Unemployment tax. Please note the decrease in tax credit from 5.4% to 5.1%. See below for link to article.

Are any of you aware of the lending programs available to California small from the state? In a future email I will talk in more detail about what is available but at this point I am I am trying to judge awareness. Has your banker ever talked to you about these? Suffice it to say there are programs including a loan guarantee which may be helpful to you.

Scott Hauge
Small Business California
2311 Taraval Street
San Francisco, CA 94116


This is a follow up to the question of how California will pay its outstanding $2 plus billion in outstanding federal loans for the Unemployment Insurance fund. The federal government has said to California, you haven't paid your loans back, so we will reduce the amount of credit each employer can take in calculating its obligation for Federal Unemployment Insurance payments (Form 940).

The new rates go into effect on January 1, 2012.

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