House committee takes first move on reducing unemployment tax on businesses
Businesses could see savings of $18 million a year
PIERRE — A tax break for South Dakota businesses that participate in the state’s unemployment program took its first step forward Friday.
The House Commerce and Energy Committee voted to accept a proposal from Gov. Kristi Noem’s administration to revise employer contribution rates to the state’s unemployment trust fund. Businesses that pay into the program — rebranded as its Reemployment Assistance program — would see $18 million a year in reductions, if the measure earns approval in the Legislature.
It's off to a promising start, with the Commerce Committee voting 13-0 in favor.
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