MN paid leave payroll tax rate to remain same next year
Minnesota’s paid leave payroll tax will remain at 0.88% in 2027, shared between workers and their employers, the state announced Friday — but a new actuarial analysis indicates the program may need to increase the rate in 2028 to abide by state law. The state Department of Employment and Economic Development said in a press release that the actuarial analysis conducted by Spring Consulting Group shows the program will remain sustainable in 2027 with the current 0.88% payroll tax rate, or 88 cents for every $100 in earnings, split equally between workers and bosses. The ...