This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

NC Unemployment Plan Hits Business, Beneficiaries

By paying off the debt in 2015, projected subsequent higher federal taxes will be canceled. The proposal also would keep in place the current 20 percent state unemployment tax surcharge on all business until the state's trust balance exceeds $1 billion and require that surcharge to now be paid by both nonprofit groups and local governments.

The bill also increases slightly the range of tax rates an employer must pay into the system based on its history, number of layoffs and other factors. The top-rated businesses could no longer get a zero percent rate â¿¿ it would go up to 0.06 percent on the first $21,000 of a worker's wages. The maximum rate would increase from 5.7 percent to 5.76 percent.

The 54-page bill also would tighten benefit qualification rules. It doesn't direct that bonds be issued to pay off the federal debt more quickly. State Treasurer Janet Cowell advised legislators against the idea because of the debt's large size and relatively small savings it would generate.

The proposal received preliminary approval in the study committee. Rucho said he didn't expect significant changes to the bill, which still would have to be introduced in the Republican-led Legislature when the new session begins in January and pass both chambers. GOP Gov.-elect Pat McCrory has said fixing the debt problem would be an early priority.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,058.35 -469.68 -2.84%
S&P 500 1,913.85 -58.33 -2.96%
NASDAQ 4,636.1050 -140.4030 -2.94%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs