The U.S. Department of Labor has certified Alaska’s unemployment compensation laws under the Federal Unemployment Tax Act for the period ending Oct. 31.
This certification allows Alaskan employers to receive certain credits against their federal unemployment tax liability, potentially reducing their tax burden.
The certification is part of an annual process that includes all 53 states and territories. It aims to ensure compliance with federal standards for unemployment compensation.
Employers in Alaska can benefit from the maximum credit allowable under Section 3302(a) of the Internal Revenue Code and additional credits under Section 3303(b)(1).
The Department of Labor says this action supports the financial stability of businesses in Alaska by reducing the cost of federal unemployment taxes, which can impact hiring and operational budgets.
