Anonymous ID: f48e45 Jan. 13, 2019, 9:43 a.m. No.4738903   ๐Ÿ—„๏ธ.is ๐Ÿ”—kun   >>8946 >>9088

>>4738799

CA gov't was getting no-interest loans from the FRB to keep un-employment flowing.

They say it was paid off last novemeber but I highly doubt they entire amount was. Also they gave the much moar.

 

California has paid off itโ€™s unemployment account loan balance to the federal government

 

It took 7 years, but California has officially repaid its outstanding unemployment benefits loan advance from the federal government, and did not have an outstanding balance on November 10, 2018, hence there will be NO FUTA credit reduction for employers in California for 2018.

 

The standard Federal Unemployment Tax Act rate or โ€œFUTAโ€ rate is 6.0% on the first $7,000 of wages subject to FUTA.

 

Generally, Californians will receive a credit of 5.4% when they file their Form 940, which results in a net FUTA tax rate of 0.6% in 2018 (6.0% โ€“ 5.4% = 0.6%) or (.006 x 7000 = $42).

 

Visit the Department of Labor UI page for a list of unpaid loans, the Virgin Islands is the only remaining unpaid loan https://oui.doleta.gov/unemploy/budget.asp

 

https://www.payrollmasters.com/california-has-paid-off-its-unemployment-account-loan-balance-to-the-federal-government/

Anonymous ID: f48e45 Jan. 13, 2019, 9:51 a.m. No.4738977   ๐Ÿ—„๏ธ.is ๐Ÿ”—kun   >>9019

>>4738946

This is why they had to. The stats they had were hopelessly under-reported, as they are now.

The amounts started out at $50b and kept going. When it started several of us traders were just aghast that it was even announced.