What We’re Reading this MarchMarch 22, 2018
South Dakota Employment Law Update – March 2018March 26, 2018
Surety Bonds for Nonresident Employers
On March 10, 2018, Wyoming Governor Matt Mead signed legislation (H.B. 18) requiring all nonresident firms, corporations, or employers that expect to pay wages in Wyoming of more than $4,000 in any month, because of conducting business within Wyoming, to file a surety bond. The bond must be filed with the Director of the Department of Workforce Services for the following amounts:
- The bond must be $8,000 plus an additional $2,000 for each $1,000 or fraction thereof that the expected wages in any month exceed $4,000, up to expected wages in any month of $20,000.
- For expected wages in any month that exceed $20,000, the bond or other security amount must be $1,000 for each additional $1,000 or fraction thereof of expected wages.
The law is effective July 1, 2018.
Read WY H.B. 18