The U.S. Department of Labor has certified Oregon’s unemployment compensation laws under the Federal Unemployment Tax Act for the period ending October 31, 2024.
This certification allows employers in Oregon to receive certain credits against their federal unemployment tax liability, potentially reducing their tax burden.
The certification is part of an annual process where the Acting Secretary of Labor confirms that state laws comply with federal requirements, enabling tax credits under Sections 3303 and 3304 of the Internal Revenue Code.
Oregon is among 53 states and territories certified, ensuring that its unemployment compensation laws meet federal standards.
This certification impacts both employers, who benefit from tax credits, and employees, as it supports the state’s unemployment insurance system.
Federal Unemployment Tax Certifications Extend Benefits Nationwide
The Department of Labor’s Employment and Training Administration has issued certifications under the Federal Unemployment Tax Act (FUTA) for all 53 states and territories, including Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Virgin Islands, Washington, West Virginia, Wisconsin, and Wyoming.
These certifications are essential for employers across these regions as they provide tax credits that can alleviate federal unemployment tax liabilities, thereby easing the financial load on businesses.
The certifications ensure that state unemployment compensation laws are in compliance with federal standards, which is vital for maintaining the integrity and functionality of the unemployment insurance system nationwide.
This process not only benefits employers by reducing tax burdens but also supports employees by reinforcing the financial stability of unemployment insurance programs across the country.
To view the original document on the Federal Register, click here.