The Louisiana Workforce Commission announced on Thursday that employers across the state will get a temporary deferral from paying their first quarter 2020 unemployment taxes.
According to a release from the LWC, state employers will still be required to file their first quarter 2020 wage and tax reports with the agency by April 30, but payment of the associated taxes will be deferred until June 30.
Unemployment taxes paid by employers fund the state’s Unemployment Trust Fund, which in turn pays unemployment benefits to qualified individuals.
The LWC states that as of March 18, Louisiana’s Trust Fund balance was $1.05 billion and is the 17th strongest unemployment trust fund in the nation.
State employers can begin filing their quarterly wage and tax reports on April 1 through the LWC’s web-based system, LAWATS, by going to www.laworks.net.
The deadline for filing the reports is April 30, but no penalty or interest will be assessed for payments received by June 30.
The deferral will be similar to the U.S. Internal Revenue Service’s plans to offer extension of payment of federal income taxes.
While federal tax returns must be filed by the April 15 deadline, payment of taxes due will be granted an extension.