FUTA Credit Reduction–Just Out

My sources (not the DOL or IRS as of yet) are telling me that the following states will have a credit reduction for FUTA for 2014.  The IRS has not released the Form 940 Schedule A as of this time but the source I have is pretty reliable so I will post just to give you a heads up.  I will also post when the IRS releases the forms.  The states are: California, Connecticut, Indiana, Kentucky, New York, North Carolina and Ohio.  The list also includes the Virgin Islands.  All will have a rate of 1.2% credit reduction for a net FUTA rate of 1.8% except for Connecticut and Indiana.  Connecticut will have a credit reduction of 1.7% with a net FUTA rate of 2.3%.  Indiana will have a credit reduction of 1.5% with a net FUTA rate of 2.1%.  Again I will post the Form 940 and the Schedule A as soon as they are released.

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