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 ?
Ultimately, Wisconsin posted a surplus in the fund in 2014 and the state has slashed unemployment tax collections from $1.19 billion in 2012 to $598 million in 2018.The number of initial benefit payments to workers has also dropped significantly, falling from 447,970 in 2009 to 106,770 last year.
"Even with the unemployment tax rate moved from Column C to Column B for fiscal year 2019, resulting in employers saving about $263 million dollars, the trust fund maintains a healthy $2.5 billion balance," Asaro-Angelo said in his Thursday testimony.
One way that brokers can help their nonprofit clients is by encouraging them to look at their state unemployment tax expenditures.
The Legislature had attempted a year ago to pass the unemployment insurance bill, which would have reduced the unemployment tax multiplier from 1.5 percent to 1.3 percent, but Rep.
The obligation assessment is a legislatively authorized component of Texas' unemployment tax that by covenant must be levied while bonds are outstanding.
Pursuant To Nh Rsa 282-a, Nhes Is Responsible For The Collection Of Employer Unemployment Tax Contributions And For The Payment Of Unemployment Benefits Utilizing Two Separate Accounts: A Benefit Account From Which Benefit Payments Are Issued And A clearing Account Through Which Unemployment Tax Contribution Collections And/or Refunds Are Processed.
According to the Texas Workforce Commission, the bill would raise unemployment tax rates by just 0.01 percent, working out to 90 cents assessed for every employee in Texas.
The average unemployment claims cost nationally is $5,174 (as of February 2012), if an employer is covering the cost directly and not paying into the state unemployment tax pool.
For federal unemployment tax, deposit the tax owed through September if more than $500.
More than 80 percent of Washington employers will have lower or stable unemployment tax rates in 2014 compared to 2013, according to the state's Employment Security Department.
At 1.8 percent, Oregon will still have a relatively high minimum unemployment tax rate - in many states it's less than 1 percent.