New York businesses are howling because "The state is subsequently levying an "Interest Assessment Surcharge," which is based on a percentage of total taxable wages paid between October 2009 and September 2010. The maximum of $21.25 per worker applies to any employee making more than $8,500 yearly. The levy applies to every employer, including non-profits and local governments."
Wait till they get the bill for $478 per worker required in November because Cuomo did not fund repaying loans for unemployment insurance from the federal government in the NY state budget.
What will the illusionist, Andrew Cuomo, do with the Unemployment debt of $3.3 Billion dollars borrowed from the federal government, which he must repay this year, which was forgotten in his budget? As of January 21, 2011, New York State, one of 30 States, borrowed $3,343,758,375.70 from the federal government for paying Unemployment Insurance. Six States, Maryland, New Hampshire, South Dakota, Tennessee and Texas, have repaid their loans in full. Since Cuomo didn't budget for this in his budget, he must be planning to pass it through to NY businesses at an average $478 per worker due from employers.