Question
My MN Federal Loan Interest Assessment is not calculated correctly. How can I resolve this?
The MN Federal Loan Interest Assessment is supposed to be calculated by multiplying 4% by the UI Contribution amount (It says as much right on the report). Mine shows 4% of the Total Taxable Wages paid. I paid the MN UI tax, which they calculated correctly, but my QB is WAY off. I've chatted with the Payroll Core team about this, but they can't seem to understand. Any suggestions?