Access the
New Mexico Department of Workforce Solutions
here.
The New Mexico Department of Workforce Solutions is a state agency responsible for overseeing workforce development programs, unemployment insurance, and labor relations in the state of New Mexico. They work to ensure compliance with state and federal labor laws to protect the rights of workers and employers alike.
Taxes aren’t exactly exciting — but they’re a necessary part of doing business. If the term State Unemployment Tax Act or SUTA sounds intimidating, don’t worry. Let’s break it down piece by piece.
What Is SUTA? The State Unemployment Tax Act, commonly known as SUTA, is a state-level payroll tax that funds temporary unemployment benefits for individuals who have lost their jobs.
The SUTA tax fills state unemployment insurance coffers, ensuring a safety net for employees between jobs.
Workers’ compensation laws are there to protect both businesses and their employees. Knowing the laws is essential, whether you’re an employer ensuring coverage for your team or an employee who wants to know your rights in case of a workplace injury or illness.
It’s important to note that these laws differ significantly from state to state and can change over time. Failing to stay compliant could bring severe financial and legal consequences for your business.
One of your core responsibilities as a business owner is to comply with state regulations, including those regarding unclaimed funds. Unclaimed funds are assets like wages, refunds, or other forms of property that have been abandoned by their rightful owners.
Every year, businesses must file an Ohio Annual Report of Unclaimed Funds to ensure that unclaimed property is returned to its rightful owners or remitted to the state for safekeeping.
Kaitlin Edwards |Oct 25, 2024
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