Unemployment Compensation Tax

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Unemployment Compensation Tax

A tax levied on an employer that pays the unemployment insurance for the unemployed labor force. The tax is assessed as a proportion of the employer's payroll; the employer generally passes on payment of the tax to his/her employees.
References in periodicals archive ?
They cover the need for payroll and personnel records, computing wages and salaries, social security taxes, income tax withholding, unemployment compensation taxes, analyzing and journalizing payroll, and a payroll project.
Bills delaying any increase in unemployment compensation taxes for two years were expected to move swiftly through Florida's 2010 legislative session.
This textbook covers all aspects of payroll accounting, from computing wages and salaries to unemployment compensation taxes.
Nor do these firms have to pay half of the Social Security taxes, unemployment compensation taxes, or workers' compensation coverage.
The contracting party does not withhold money for tax purposes and does not pay unemployment compensation taxes on their behalf.

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