Bill > HB1230

This bill modifies the requirements for employers paying the "employer's investment in South Dakota's future fee," which is a fee levied on wages in addition to regular unemployment compensation contributions. The key change is the introduction of an opt-out provision, allowing employers to choose not to pay this fee. The Department of Labor and Regulation will develop a form for employers to opt in or out, which will be published online and distributed physically to employers until they submit a form. Employers who do not actively opt in will be considered to have opted out and will not be subject to the fee or related collection terms. If an employer opts in, they become subject to the fee starting the following calendar quarter, and if they later opt out, they will no longer be required to pay it from the start of the next quarter after submitting the opt-out form. The bill also clarifies that opting out means no penalties or consequences for nonpayment of this specific fee.

Government Affairs

https://sdlegislature.gov/#/Session/Bill/26807