Missouri organizations have recently received their “Employers Experience Rating Statement And Notice of Employer Contribution Rate” from the State Department of Labor. This document can help organizations uncover any new unemployment insurance tax liability exposure. It can also identify savings nonprofit organizations could receive by exercising their right as a 501(c)(3) to not pay state unemployment insurance taxes.
On your most recent tax rate notice take a look at the figures in the center of the document. (Download a sample here.)
Find the column labeled “Contributions.” That is the amount of money you have paid the State of Missouri every six moths over the past three years.
Now, look at the column labeled “Benefits Charged.” This column shows how much money the state has paid on your organization’s behalf in the form of unemployment insurance benefits to your separated employees.
If you see a large difference between these two columns, that means you are overpaying the State of Missouri for your unemployment insurance.
We have developed an online calculator that you can use to determine if your organization is overpaying its state unemployment insurance tax by using just the data on this Notice of Employer Contribution Rate.
Go to www.501c.com/overpayments and determine your current overpayment. The calculator is completely anonymous.
After you’ve used our overpayment calculator to uncover any potential savings through unemployment reimbursing, feel free to contact me for more details about how we can help return any overpayment to your budget.
Good luck with your calculations!
501(c) Services has more than 35 years of experience in providing full-service alternatives to state-run unemployment insurance programs, and provides services to over 1,500 nonprofits nationally. It is the administrator of the 501(c) Agencies Trust, which offers a comprehensive suite of risk management services and multiple stop-loss protection solutions for its 501(c)(3) nonprofit members, and UInsure, a first dollar unemployment insurance program for 501(c)(3)s, government entities, and tribally owned businesses.