Assessed Interest on NJ Employers

NJ Employers are receiving notices on assessed interest for 2012 from the New Jersey Department of Labor and Work Force Development.  The notices state that the State of New Jersey had to “borrow funds from the United States Treasury to pay unemployment benefits.”

The assessment notice lists an explanation of why the balance is due and the method of how the assessment is calculated. The payment due date is 30 days from the mailing date of the notice, not when it is postmarked.  We are encouraging our clients not to delay or ignore the notice of assessment.   Per the notice, if your payment is late, “interest will accrue at the statutory rate of 15% per year.”  If you have any questions you should contact your accountant.  The link below can provide you with more information.

The New Jersey Department of Labor and Workforce Development: Federal Loan Interest Assessment

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