DOL Informs Public of 2020 Unemployment Insurance Tax Rates

Commissioner of the Department of Labor Gary Molloy (Photo by Alvin Burke)

The new unemployment insurance tax rates will change on Jan. 1, 2020, according to a press release from Commissioner Gary Molloy of the V.I. Department of Labor. This is pursuant to his authority in Title 24 V.I.C. §308.

The rates will be as follows:

The unemployment tax rate for new employers will remain at 2.0 percent for 2020, under Act 8209 (Title 24 V.I.C. §308(b)(2)).

The unemployment tax rate for experienced contributory employers (those who have been in business three years or more) will be 2.5 percent. The Department of Labor encourages businesses to find out more about the payment process and rate calculations.

For more information, contact Gary Halyard, acting director of the Unemployment Insurance Unit, at 773-1994 ext. 2104 on St. Croix or contact Faye Reed, acting chief of Tax, at 776-3700 ext. 2013 or 2035 on St. Thomas.

Print Friendly, PDF & Email

Support the VI Source

Unlike many news organizations, we haven't put up a paywall - we want to keep our journalism as open as we can. Our sites are more popular than ever, but advertising revenues are falling - so you can see why we could use your help. Our independent journalism costs time, money and hard work to keep you informed, but we do it because we believe that it matters. If everybody who appreciates our reporting efforts were to help fund it for as little as $1, our future would be much more secure. Thanks in advance for your support!