Do You Have Employees in Washington State? Take Note: New Long-Term Care Payroll Tax Goes Into Effect January 1, 2022
By EsqSocial Corporation 23/04/21
Seyfarth Synopsis: In an effort to plan for the projected long-term care needs of its residents, State of Washington passed the Long-Term Services and Supports Trust Act (SHB 1323) requiring each worker in Washington to contribute $0.58 per $100 (0.58%) of wages to a trust set aside to pay long-term care benefits for its residents. The law was enacted in 2019 and becomes effective in 2022. Benefits under the Act are first payable in 2025. Washingtonians may opt out, but must have qualifying...
By: Seyfarth Shaw LLP