For New York payroll: going forward, you will see the state’s existing Interest Assessment Surcharge (IAS) broken out separately from State Unemployment on invoices. The amount of the surcharge has not changed; Wrapbook is merely breaking it out as a separate line item on invoices for clarity.

The current New York State Unemployment rate is 9.9%, and New York’s current IAS rate is 0.23%. Both cap at the state’s maximum wage base per employee annually.

As a reminder, the state surcharge was put in place to pay the interest for New York’s Federal loan, which covered unemployment claims partially resulting from the COVID-19 pandemic. For full details, please refer to the original announcement from the New York Department of Labor.