Draft statewide "employer compensation tax" bill circulating
December 10, 2020
Despite the fact state revenues are forecasted to increase 10.7% during this biennia and 7.2% for 2021-23 (showing continued growth every year), a draft bill to impose a statewide "employer compensation tax" is circulating for the 2021 session. The intent of the draft bill is unclear with this current placeholder text: "TBD."
According to the draft bill:
"Beginning January 1, 2022, an employer...