Florida state Unemployment Tax
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The Florida state Unemployment Tax is mandated under a Florida state law that imposes an employer tax used to fund a reserve that pays benefits to the unemployed. Employers report this tax by filing an annual form with the Florida Department of Revenue. The employer is required to pay the tax in instalments during the tax year.
In 2010, about 460,000 employers were subject to this tax. The rate is determined based on each employer's employment history over the past three years. In 2009, the minimum tax, for businesses with no lay-offs, was set to rise from $8.40 per employee to $100.30 in the year 2010 to meet the expected shortfall. This minimum rate was reset in 2010 to $25.20 instead. The maximum rate is $378. Because it was set too low, the state has borrowed $1.8 billion from the federal government during 2009-2010. Interest on the loan is $61 million. The state anticipates a special levy of $9.51 per employee to meet this interest payment. The minimum rate projected for 2011 is $72.10.
In 2010, the weekly benefit for the unemployed was $275.
- "Jobless tax issue rises again". Melbourne, Florida: Florida Today. 9 December 2010. pp. 8C.
- McKenzie, Teri (12 December 2010). "No:US can't afford culture of dependency". Melbourne, Florida: Florida Today. pp. 19A.