U.S. Virgin Islands – FUTA Credit Reduction
Employers located or doing business in the U.S. Virgin Islands may avoid the 2026 FUTA credit reduction flagged earlier this year. The territory has officially repaid the federal loan principal that put it on the list, the Virgin Islands Department of Labor (VIDOL) has announced.
One requirement remains before the credit reduction is eliminated. The Bureau of the Fiscal Service issued an FY 2026 interest invoice for about $405,952.50, and VIDOL says it’s coordinating payment with the territory’s budget and finance offices.
If that payment clears and no new borrowing occurs in FY 2026, the Virgin Islands will eliminate the potential 4.8% FUTA credit reduction reported in April.
More info: VIDOL Press Release.
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