New York-Based Firms Contributing to Unemployment Insurance Now Owe an Interest Assessment Surcharge (IAS)

In the last few years New York’s Unemployment Insurance (UI) Trust Fund hasn’t had sufficient funds to pay unemployed workers’ claims, so the state borrowed money from the federal government. State law requires New York State (NYS) businesses that pay UI to pay the interest on the federal loan; that interest is being collected via the Interest Assessment Surcharge (IAS).

The current annual IAS for businesses is about $27.60 per employee; this amount will fluctuate from year to year.

Businesses can pay the IAS electronically when e-filing their second-quarter NYS-45 return. Alternately, they can write a check payable to NYS Unemployment Insurance and send it to:

NYS Unemployment Insurance
P.O. Box 4301
Binghamton, New York 13902-4301

For questions or additional information regarding the imposed NYS IAS, please contact your Marcum Tax Professional.