§ 28-43-9. Balancing rate.
(a) As of September 30, 1988, and on each subsequent computation date, the director shall determine the balancing rate percentage to be effective for the immediately following tax year in accordance with the balancing rate schedule in this subsection. The director shall charge to the employer’s account and credit to the balancing account in any manner and at any times, quarterly or otherwise, that the director shall prescribe, an amount obtained by multiplying the employer’s taxable wages for the calendar year immediately following the computation date, or any one or more quarters of that calendar year, by the product of the individual employer’s contribution rate for that calendar year and balancing rate percentage corresponding to the tax schedule in effect for the calendar year in accordance with the balancing rate schedule in this subsection:
(b) Notwithstanding any other provisions of this section, if the balance in the balancing account as of the computation date is greater than or equal to zero (0), then no balance charge shall be made against employer accounts for the immediately following tax year.
(c) Contributions required pursuant to any balancing percentage rate shall not be in addition to other contributions required by chapters 42 — 44 of this title.
History of Section.P.L. 1958 (s.s.), ch. 213, § 1; P.L. 1965, ch. 201, § 2; P.L. 1968, ch. 291, § 3; P.L. 1979, ch. 108, § 6; P.L. 1985, ch. 372, § 1; P.L. 1988, ch. 315, § 1.
Structure Rhode Island General Laws
Title 28 - Labor and Labor Relations
Chapter 28-43 - Employment Security — Contributions
Section 28-43-1. - Definitions.
Section 28-43-2. - Balancing account — Credits and charges.
Section 28-43-3. - Employer’s accounts — Credits and charges.
Section 28-43-4. - Statement of condition of employment security fund and balancing account.
Section 28-43-5. - Employer’s account — Statement of balance, credits, and charges.
Section 28-43-5.1. - Employer’s account — Voluntary contributions.
Section 28-43-6. - Notification of benefit payments to employers.
Section 28-43-7. - Taxable wage base.
Section 28-43-7.1. - Determination of employer’s total taxable wages.
Section 28-43-8. - Experience rates — Tables.
Section 28-43-8.1. - Time and manner of payment of employer contributions.
Section 28-43-8.2. - [Repealed.]
Section 28-43-8.3. - Rate where no experience.
Section 28-43-8.4. - [Repealed.]
Section 28-43-8.5. - Job development assessment.
Section 28-43-8.6. - Employment security reemployment assessment.
Section 28-43-9. - Balancing rate.
Section 28-43-10. - Application of predecessor’s payroll record to successor employer.
Section 28-43-11. - [Repealed.]
Section 28-43-12. - Adjustments — Refund of overpayments.
Section 28-43-13. - Appeals to the board of review.
Section 28-43-14. - Appeals to the board of review on other matters.
Section 28-43-15. - Interest on delinquent payments.
Section 28-43-16. - Priority of contributions in bankruptcy or judicial distribution of assets.
Section 28-43-17. - Determination of contributions without report by employer.
Section 28-43-18. - Civil action to recover contributions.
Section 28-43-19. - Representation of director in civil actions.
Section 28-43-20. - Contributions as debt to state — Lien on real estate.
Section 28-43-21. - Notice of transfer of business — Contributions due immediately.
Section 28-43-22. - Collection powers — Surety bond to pay.
Section 28-43-23. - [Repealed.]
Section 28-43-24. - Contributions payable by governmental entities.
Section 28-43-25 - — 28-43-27. [Repealed.]
Section 28-43-28. - Waiver of contributions and interest under one dollar.
Section 28-43-29. - Liability for contributions and election of reimbursement.
Section 28-43-30. - Reimbursement payments — Nonprofit organizations and governmental entities.
Section 28-43-31. - Allocation of benefit costs — Reimbursable employers.
Section 28-43-32. - Group accounts.
Section 28-43-33. - Transition provisions.
Section 28-43-34. - Repayment — Federal advances.
Section 28-43-35. - Special rules regarding transfers of experience and assignment of rates.