23-730.01. Contributions; temporary additional contributions; due dates; exceptions

A. For purposes of this section:

1. "Additional contributions" means the money payments to be made at the surtax rate.

2. "Contribution rate" means the rate at which an employer is required to pay contributions as determined pursuant to any other section of this chapter.

3. "Contributions" means the money payments required to be made at the contribution rate under any other section of this chapter.

4. "Surtax rate" means the rate at which an employer is required to pay additional contributions as prescribed by this section.

B. For calendar year 1977 only, each employer shall be assigned a surtax rate. The surtax rate shall be equal to fifty per cent of the contribution rate assigned for such year except that if such surtax rate is more than one and two-tenths per cent it shall be one and two-tenths per cent. The computed surtax rate shall be rounded to the nearest one-hundredth of one per cent.

C. In addition to any contributions required under any other section of this chapter, each employer shall pay additional contributions on wages paid during calendar year 1977 at the assigned surtax rate if the joint legislative budget committee determines that the total assets of the fund will be less than fifty million dollars on December 31, 1976, and approves the implementation of the surtax. The total assets in the fund shall be determined by the joint legislative budget committee in the following manner: On or before November 1, 1976, the department of economic security shall inform the joint legislative budget committee as to the estimated assets in the fund on that date and the estimated assets in the fund for December 31, 1976.

D. Contributions on wages paid during 1976 are due in accordance with the following schedule:

1. Due on April 30, 1976, contributions at the contribution rate on the first four thousand two hundred dollars of wages paid to each employee during the first calendar quarter of 1976.

2. Due on July 31, 1976, contributions at the contribution rate on that portion of the first four thousand two hundred dollars of wages paid to each employee in 1976 which were paid during the second calendar quarter of 1976.

3. Due on October 31, 1976, contributions at the contribution rate which were not due on April 30, 1976 or July 31, 1976, on that portion of the first six thousand dollars of wages paid to each employee in the first and second calendar quarters of 1976 plus contributions at the contribution rate on that portion of the first six thousand dollars of wages paid to each employee in 1976 which were paid during the third calendar quarter of 1976.

4. Due on January 31, 1977, contributions at the contribution rate on that portion of the first six thousand dollars of wages paid to each employee in 1976 which were paid during the fourth calendar quarter of 1976.

E. Contributions at the contribution rate and additional contributions at the surtax rate on wages paid during calendar year 1977 are due on the last day of the month immediately following the calendar quarter in which the wages were paid, except that no additional contributions at the surtax rate are required on wages paid during 1977 if on December 31, 1976, the total assets of the fund equal or exceed fifty million dollars.

23-730.01. Contributions; temporary additional contributions; due dates; exceptions

A. For purposes of this section:

1. "Additional contributions" means the money payments to be made at the surtax rate.

2. "Contribution rate" means the rate at which an employer is required to pay contributions as determined pursuant to any other section of this chapter.

3. "Contributions" means the money payments required to be made at the contribution rate under any other section of this chapter.

4. "Surtax rate" means the rate at which an employer is required to pay additional contributions as prescribed by this section.

B. For calendar year 1977 only, each employer shall be assigned a surtax rate. The surtax rate shall be equal to fifty per cent of the contribution rate assigned for such year except that if such surtax rate is more than one and two-tenths per cent it shall be one and two-tenths per cent. The computed surtax rate shall be rounded to the nearest one-hundredth of one per cent.

C. In addition to any contributions required under any other section of this chapter, each employer shall pay additional contributions on wages paid during calendar year 1977 at the assigned surtax rate if the joint legislative budget committee determines that the total assets of the fund will be less than fifty million dollars on December 31, 1976, and approves the implementation of the surtax. The total assets in the fund shall be determined by the joint legislative budget committee in the following manner: On or before November 1, 1976, the department of economic security shall inform the joint legislative budget committee as to the estimated assets in the fund on that date and the estimated assets in the fund for December 31, 1976.

D. Contributions on wages paid during 1976 are due in accordance with the following schedule:

1. Due on April 30, 1976, contributions at the contribution rate on the first four thousand two hundred dollars of wages paid to each employee during the first calendar quarter of 1976.

2. Due on July 31, 1976, contributions at the contribution rate on that portion of the first four thousand two hundred dollars of wages paid to each employee in 1976 which were paid during the second calendar quarter of 1976.

3. Due on October 31, 1976, contributions at the contribution rate which were not due on April 30, 1976 or July 31, 1976, on that portion of the first six thousand dollars of wages paid to each employee in the first and second calendar quarters of 1976 plus contributions at the contribution rate on that portion of the first six thousand dollars of wages paid to each employee in 1976 which were paid during the third calendar quarter of 1976.

4. Due on January 31, 1977, contributions at the contribution rate on that portion of the first six thousand dollars of wages paid to each employee in 1976 which were paid during the fourth calendar quarter of 1976.

E. Contributions at the contribution rate and additional contributions at the surtax rate on wages paid during calendar year 1977 are due on the last day of the month immediately following the calendar quarter in which the wages were paid, except that no additional contributions at the surtax rate are required on wages paid during 1977 if on December 31, 1976, the total assets of the fund equal or exceed fifty million dollars.