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 ?
Also excluded are collections for the unemployment compensation taxes imposed by each of the state governments.
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.
Unemployment compensation products are utilized by qualified entities that elect not to pay the unemployment compensation taxes and instead reimburse state unemployment agencies for benefits paid by the agencies to the entities' former employees.
In addition, Pennsylvania employers will have their 2007 unemployment compensation taxes reduced by $158 million, as the average tax rate for employers is projected to be 5 percent, down from 5.
Schweiker also noted that unemployment compensation taxes will be cut by an additional $20 million for 2002.
The UCTM services can prevent customers from overpaying unemployment compensation taxes by as much as 20 percent per year, and customers may see average savings of three to eight times the cost of purchasing the service.
That means, since 1995, unemployment compensation taxes will have been cut in our state by a cumulative total of $2.
Five employers were convicted of willful failure to pay unemployment compensation taxes and ordered to pay $121,904 in delinquent taxes, interest and filing fees.

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