§ 852 — Imposition and rate of tax

§ 852. Imposition and rate of tax. A tax is hereby imposed on the\npayroll expense paid by electing employers to covered employees. For two\nthousand nineteen, the tax shall be equal to one and one-half percent of\nthe payroll expense paid by electing employers to covered employees\nduring the calendar quarter. For two thousand twenty, the tax shall be\nequal to three percent of the payroll expense paid by electing employers\nto covered employees during the calendar quarter. For two thousand\ntwenty-one and thereafter, the tax shall be equal to five percent of the\npayroll expense paid by electing employers to covered employees during\nthe calendar quarter. An electing employer shall only be subject to the\ntax imposed under this article on the payroll expense paid to any\ncovered employee during the calendar year in excess of forty thousand\ndollars.\n