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Joint Accounts
A Joint Account (for unemployment tax purposes) is a state permitted
opportunity for employers, with more than one payroll reporting legal entity in a state, to share the unemployment experience between those entities
chosen, for an overall beneficial tax rate. Joint Accounts do not effect or change the reporting /corporate structure of any entities involved.
The annual deadline to create joint accounts is state specific throughout the year. Currently, the following 12 states permit Joint Accounting:
Arizona |
Delaware |
New York |
Arkansas |
Hawaii |
Ohio |
California |
Missouri |
South Carolina |
Connecticut |
New jersey |
West Virginia |
The duration of Joint Accounts varies by state, from one year (e.g. Ohio)
to life of the entities included (e.g. Missouri). In states where the joint account is more than one year, it is particularly important to discuss the
future plans of entities recommended with the client, and project future savings or liabilities.
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