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Seyfarth Synopsis: On April 1, 2021, Massachusetts Governor Charlie Baker signed a new law  that, among other issues, addresses the solvency of the Commonwealth's unemployment compensation fund by imposing an excise on wages and permitting the Commonwealth to issue bonds to fund unemployment. The law also includes tax relief provisions for employers and employees, including gross income exclusions for employers who received certain COVID-19 relief benefits and a tax deduction for some individuals who received unemployment compensation in 2020 or 2021. While the unemployment and tax relief p...

Seyfarth Synopsis:  On April 1, 2021, Massachusetts Governor Charlie Baker signed a new  law  that, among other issues, addresses the solvency of the Commonwealth's unemployment compensation fund by imposing an excise on wages and permitting the Commonwealth to issue bonds to fund unemployment. The law also includes tax relief provisions for employers and employees, including gross income exclusions for employers who received certain COVID-19 relief benefits and a tax deduction for some individuals who received unemployment compensation in 2020 or 2021. While the unemployment and tax relie...

Seyfarth Synopsis:  On April 1, 2021, Massachusetts Governor Charlie Baker signed a new  law that, among other issues, addresses the solvency of the Commonwealth’s unemployment compensation fund by imposing an excise on wages and permitting the Commonwealth to issue bonds to fund unemployment. The law also includes tax relief provisions for employers and employees, including gross income exclusions for employers who received certain COVID-19 relief benefits and a tax deduction for some individuals who received unemployment compensation in 2020 or 2021. While the unemployment and tax relie...