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Texas employers will see slightly lower unemployment insurance tax ...

Texas employers will see their unemployment insurance tax rates decline slightly next year, according to the Texas Workforce Commission.

The agency said the 2013 average tax rate will be 1.82 percent next year, down from 1.96 percent. Employer-paid taxes replenish the Texas Unemployment Compensation Trust Fund, which provides temporary income for Texas workers who are laid off through no fault of their own.

Insurers use ?experience rating? to determine unemployment insurance premium prices based on the employer?s claims history for the last three years. Companies with more claims by past workers face higher rates. The average tax rate for experience-rated employers will be 1.71 percent in 2013, down from 1.87 percent this year.

More than 250,000 Texas employers pay the standard minimum tax rate, which will be 0.54 percent next year vs. 0.61 percent this year. At the minimum tax, an employer would pay $48.60 per employee in 2013, compared with $54.90 this year.

The maximum tax rate, paid by 6.8 percent of Texas employers, will be 7.35 percent in 2013.

This entry was posted in Economy, Employment, General business and tagged taxes, Texas Workforce Commission, UI tax rate, unemployment insurance by Sheryl Jean. Bookmark the permalink.

Source: http://bizbeatblog.dallasnews.com/2012/12/texas-employers-will-see-slightly-lower-unemployment-insurance-tax-rates-in-2013.html/

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