An employer tax rate increase went into effect on July 1, 2024, impacting the paid family leave rate. It went from 0.26 percent to 0.75 percent of employee wages. The adjusted rate must be reflected in the quarterly tax payment due on October 31, 2024 (which reflects all wages paid from July 1 to September 30).
Additional detail about the paid family leave program is available here.
This article is informational and does not constitute legal or financial advice. Consult with an employment lawyer or accountant for additional clarification on how these changes impact your company.
