NYS Unemployment Interest for Employers

Starting in July, the New York State Department of Labor will begin to send bills to employers for interest owed by the employers. The interest relates to a federal loan taken by New York State during the pandemic, and its cost is passed on to New York employers.

The notices will refer to the amount due as the “Interest Assessment Surcharge.”

The amount due will be about $28 per employee, using the wages subject to unemployment contributions during the fourth quarter of 2020 through the third quarter of 2021 and multiplying those wages by 0.23%.

Employers may pay the interest assessment electronically, when they file their Forms NYS-45 for the second quarter of 2022 through their online services accounts.