Here are our updates for October. I pick one item from each of my newsletters to feature. To receive all of our payroll news updates, please subscribe to my news update service.
Unemployment Insurance 2023 Wage Bases and Rates:
- New York: The taxable wage base for 2023 will be $12,300
- Oklahoma: The unemployment taxable wage base will increase to $25,700.
- Wisconsin: For 2023, Schedule D remains in effect
- Wyoming: the 2023 unemployment taxable wage base will increase to $29,100.
IRS has announced transportation fringe benefits for 2023. They are:
Qualified transportation: For taxable years beginning in 2023, the monthly limitation under § 132(f)(2)(A) regarding the aggregate fringe benefit exclusion amount for transportation in a commuter highway vehicle and any transit pass is $300. The monthly limitation under § 132(f)(2)(B) regarding the fringe benefit exclusion amount for qualified parking is $300.
Washington: the state has two items for today’s update. These are:
- The Seattle Office of Labor Standards has announced the 2023 minimum wage
- For large employers (501 or more employees): $18.69 per
- For small employers (500 or fewer employees) who do pay at least $2.19 per hour toward the employee’s medical benefits and/or where the employee does earn at least $2.19 per hour tips the rate will be $16.50 per hour, otherwise the minimum wage rate of $18.69 per hour would apply.
- The SeaTac minimum wage rate for hospitality and transportation industry employees working in and near SeaTac will increase to $19.06 per hour, effective January 1,