How do I update State Unemployment Rate Exchanges and State Income Tax Frequency Exchanges?

STATE UNEMPLOYMENT RATE CHANGE

State Unemployment Rate Exchange, also known as Rate Exchange, SUI Exchange, or Agency Exchange, can be done through a Third Party Service Provider such as Namely. This can be done by supplying the requested data to the applicable states to confirm that the necessary criteria are met. If it is, a current year rate will be submitted to Namely which can be added to Namely Payroll.

This is a courtesy provided by Namely, but it is ultimately the responsibility of the employer to review and/or update rates as they are received from the state(s). Namely will not be liable for any incorrect rates which may result in penalty and/or interest.

If you elect to use this service, Namely will be the third-party service provider for all states. You will not be able to opt-out or omit any states to be done independently or by another provider.

Namely Payroll

State Tax Codes with an effective state prior to 2022 have been updated per an agency exchange. A new row titled Agency Exchange 2022 has been added to your account with a start date of 01/01/2022. This addition automatically voids the information in the row for the prior year.

If a rate was updated internally by your company for 2022, we will not modify or delete the information.

TIP:

It is possible there was no rate change in some states causing your new Agency Exchange 2022 rate to match the prior year rate.

Eligible States

Arkansas
California
Colorado
Connecticut
Washington D.C.
Florida
Georgia
Iowa
Idaho
Illinois
Indiana
Kansas
Kentucky
Louisiana
Massachusetts
Maryland
Maine
Michigan
Minnesota
Missouri
Mississippi
Montana
North Carolina
Nebraska
New Hampshire
New Jersey
New Mexico
Nevada
New York
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
Tennessee
Utah
Virginia
Vermont
Washington
Wisconsin

Criteria Needed

Necessary criteria will vary by state. Some states will require Power of Attorney or Third Party Access for filing, depositing, and rate documentation.

STATE INCOME TAX FREQUENCY EXCHANGE

State Income Tax (SIT) Frequency Exchange, also known as Frequency Exchange, is offered by a few states. Similar to the SUI Rate Exchange, you will need to provide the requested data to the state and if the criteria are met, a current frequency will be given back to Namely and updated into Namely Payroll.

This is a courtesy provided by Namely, but it is ultimately the responsibility of the employer to review and/or update rates as they are received from the state(s). Namely will not be liable for any incorrect rates which may result in penalty and/or interest.

If you elect to use this service, Namely will be the third-party service provider for all states. You will not be able to opt-out or omit any states to be done independently or by another provider.