Unemployment Compensation tax reduced by nearly $50 in 2013

The 2012 Legislature made two changes that affect the amount of reemployment tax businesses will have to pay in 2013. Heavily supported by FRLA, the Legislature reduced the increase in tax rates by extending the recoupment period for the trust fund from three years to five years. The Legislature also reduced the taxable wage base to $8,000 effective January 1, 2012 through 2014. On January 1, 2013, this taxation policy change will reduce the unemployment compensation tax increase by nearly $50 per employee, saving  employers $549 million over two years.

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