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FUTA – CA employers due to pay more
CA is a “credit reduction state” which means that employers in CA will have to pay more in Federal Unemployment Tax to the federal government for employees who they employed in 2023. Due to outstanding federal unemployment loans, CA and NY are subject to FUTA Credit Reduction for 2023. This means New York and California businesses…
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CA Minimum Wage 2024
New minimum wage laws for 2024 beginning January 1st 2024 are $16/hour minimum throughout CA. Beginning April 1st 2024 fast food chains with more than 60 locations must pay a minimum wage of $20/hour. June 1st 2024 health care workers will have a minimum wage of $23/hour. The minimum salary is now $66,560 and $115,763…
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CA Employers – New wage and leave requirements starting in 2023
The CA statewide minimum wage has increased to $15.50 per hour. Some counties and cities have additional minimum wage requirements, review the rules in your city. Salaried or “Exempt” employees in CA must have a minimum salary of $1,240 per week, or $64,480 per year. All employers are required to offer paid sick leave, this…
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What is the FUTA Credit Reduction?
The FUTA credit reduction is an extra % that is being collected for the Unemployment fund that all CA employers (and those in other states) are having to pay on up to $7k of wages paid per employee they employed this year. This happens when the state pays out more unemployment funds than it has…