Tax Policy & Finance

Senate Dems Propose Massive UI Benefit Increases; Chamber Strongly Opposed

Legislation introduced last week would massively increase the 100 percent employer-financed unemployment insurance (UI) weekly maximum benefit amount and dependent allowance. It would also compensate those harmed by false fraud allegations. These changes could more than double an employer’s maximum exposure for a former employee, increasing potential benefit charges from $7,840 to $14,060 per claimant. While not contemplated by the legislation, there is no doubt that this legislation would lead to sharp UI tax increases on employers.

What Does Interchange Optimization Really Mean?

We are often asked what Interchange Optimization really means and the impact it has on a company’s bottom line. The answer is complex, but at its core, Interchange Optimization is based on industry-specific program requirements that were created by the card brands (Visa, MasterCard, Discover, AMEX). 

True or False: The minimum wage for Michigan employees is $8.50 per hour

With all the media coverage of federal and state minimum wage laws, do you know if the above statement is true or false? It is true: for most employees working in Michigan, the 2016 minimum wage is $8.50 per hour.  

However, it is false for some employees:

Tipped Employees: The employer is not required to pay minimum wage to tipped employees if all of these apply: