Despite the poor economy, Florida employers have been bracing themselves for what seemed like inevitable Unemployment Tax increases. Rates were set to jump significantly and the taxable wage base per employee was set to rise from $7,000 to $8,500. But instead, the Florida Legislature has passed unemployment tax relief for employers which will reduce these new unemployment tax rates and return the taxable wage base back to $7,000 retroactive to January. We will continue to keep you posted on any new developments in Federal and State tax changes.
If you are a Quickbooks Payroll subscriber check out our Quickbooks Payroll Alert, pertaining specifically to this change!