Unemployment Compensation Tax


Also found in: Acronyms.

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 ?
For questions about unemployment compensation tax, call (800) 482-8293.
Any business or individual that prepared and filed unemployment compensation tax reports for five or more employers during the previous year.
The new budget continues to phase out the long-despised intangibles tax on accounts receivable, cuts the unemployment compensation tax and reduces several other business taxes.

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