The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency STATE OF NEVADA Department of Employment,

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The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency STATE OF NEVADA Department of Employment, Training and Rehabilitation Employment Security Division Unemployment Insurance Tax Rate Schedule 2015 Small Business Impact Statement Edgar Roberts – Chief of Contributions Small Business Workshop October 28, 2014

The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Small Business Workshop  The purpose of this Small Business Workshop is to discuss the proposed Unemployment Insurance Tax Rate schedule for calendar year  A small business is defined by NRS 233B as having 149 employees or less.  On October 8, 2014, the Employment Security Council recommended the average tax rate would be set to 2.00%. 2

The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Proposed Regulation  This regulation affects all Nevada employers subject to Nevada’s Unemployment Compensation Law that pay a tax rate subject to the experience rating system.  This constitutes approximately 37,328 employers or 62% of the total employers registered. 3

The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency 4

Proposed Regulation Continued  This regulation will continue to support the UI system, which has paid nearly $400 million in regular unemployment benefits to Nevada’s workers in the past year.  This regulation will continue to allow many experience-rated employers to pay contributions at a rate lower than the new employer rate of 2.95%. 5

The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Direct Impact  The principal cause of any major change in an employer's SUTA tax rate is due to changes in their own reserve ratio and experience with unemployment. 6

The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Direct Impact  The average tax rate of 2.00% is expected to generate approximately $546 million for the Unemployment Compensation Trust Fund during calendar year  Taxable wages of small businesses account for 41% of all taxable wages in the State. Approximately $221 million of the total revenue will be attributable to small businesses with the average rate of 2.00%.  The impact of the proposed 2.00% average tax rate is unique to each employer based on their previous experience with unemployment. 7

The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Indirect Impact  Implementing a 2.00% average rate will continue the stability of the overall tax for employers.  The prior bonding solution has eliminated the mandatory federal tax increases under the Federal Unemployment Tax Act commonly known as (FUTA) and has also restored the full 5.4% credit to employers. 8

The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Rate - Impact on Small Businesses  The tax methodology used for Nevada’s Unemployment Compensation Program is based on an experience rating system approved by the U.S. Department of Labor.  This rating system is designed to ensure that employers are fairly rated based on their unique experience with unemployment, regardless of size or industry type.  Having a federally approved rating system allows employers an offset credit against their Federal Unemployment Tax. This is a savings of nearly $400 million per year to Nevada employers. 9

The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Estimated Cost for Enforcement  There is no additional cost for the enforcement of this regulation.  NAC is adopted each year to set employer contribution rates and is required by NRS  Funds for the administration of the Unemployment Compensation Program are provided by the U.S. Department of Labor. 10

The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Anticipated Revenue & Regulation  The average UI tax rate of 2.00% is expected to produce $546 million for the trust fund in calendar year Small businesses will account for $221 million of the total revenues.  This regulation does not duplicate or provide a more stringent standard than any other regulation of federal, state, or local governments.  This concludes my presentation. 11