This bill amends existing laws regarding unemployment compensation in Wyoming, specifically addressing the maximum contributions that employers may be charged for the unemployment compensation fund. Key changes include the specification that the base rate of contributions assigned to any employer is set at eight and one-half percent (8.5%) for 1988 and each calendar year thereafter, with the addition of a provision that no employer shall be required to contribute more than one dollar ($1.00) per employee in a calendar year when combining the base rate with any rate variations or adjustment factors. Additionally, the bill establishes that the total contribution required of an employer in any calendar year shall not exceed the maximum amount specified in the relevant sections.

Furthermore, the bill outlines the consequences for employers who fail to pay their contributions, including the assignment of a delinquent rate that includes a two percent (2%) tax rate increase. It also clarifies that new employers will pay contributions based on the average rate of their major industrial classification, with a minimum rate of one percent (1%) and a cap on total contributions per employee. The adjustments to the contribution rates will be effective starting January 1, 2026.

Statutes affected:
Introduced: 27-3-503, 27-3-505