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December 5, 2013
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Nevada sets unemployment tax rate at 1.95% for 2014

Nevada state officials say employers are going to pay about the same next year in state and federal unemployment taxes to provide worker benefits.

State Employment Security Division chief Renee Olson on Wednesday reduced the state unemployment tax paid by employers to an average of 1.95 percent.

The Las Vegas Review-Journal reports that’s down slightly from a 2.1 percent rate recommended in October by a citizens group.

Olson says the state was able to whittle a federal Labor Department loan incurred during the recession to pay jobless benefits from $846 million in April 2012 to about $520 million today, and she secured a 1 percent bond to pay that remaining debt.

Olsen says the result is the combined state and federal unemployment tax rates will stay about the same.

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The Nevada Appeal Updated Dec 5, 2013 11:55PM Published Dec 5, 2013 01:03PM Copyright 2013 The Nevada Appeal. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.