Nebraska LB297 amends the Employment Security Law to adjust the combined tax rate calculation for employers.
Nebraska LB297 modifies the Employment Security Law by changing how the combined tax rate is calculated for employers. The bill specifies that the combined tax rate is determined based on an employer's experience account and wages paid over the preceding periods. It introduces a new method for assigning employers to rate categories based on their experience reserve ratios. Additionally, the bill mandates a five percent reduction in the final average combined tax rate from January 1, 2025, through December 31, 2029.
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