From: C&L Value Advisors LLC [hwisneski@clvalue.com]

Sent: Friday, October 22, 2010 9:57 AM

To: Heidi E. Wisneski

Subject: Changes to Unemployment Tax Rates

 

 

 

March 11, 2010

Very Important Notice Concerning Florida Unemployment Tax

 

The Florida Legislature and Governor Charlie Crist have passed and signed into law unemployment tax relief for all Florida employers that were previously issued 2010 tax rates. These actions take effect immediately. In support of economic stability and job creation, the law will help strengthen the efforts of Florida's business community as it faces the economic challenges that have confronted our state.

         This new law:

         Adjusts tax rate calculations through 2011.

         Reduces the taxable wage base from $8,500 to $7,000.

         Provides for quarterly installment payments.

         The tax relief will apply to taxes due by April 30, 2010.

         Employers will receive their new 2010 tax rate information (Form UCT-20) from the Florida Department of Revenue in late March or early April.

         Employers who are ready to expand operations and hire new workers are encouraged to use services provided by Florida's workforce system through www.EmployFlorida.com

Rates

The new law, passed March 2, 2010 and retroactive to January 1, 2010, adjusts the rates to the following (based on annual salary up to $7,000 per employee):

         Minimum rate: 0.0036 or $25.20* per employee

         Maximum rate: 0.0540 or $378 per employee

*The Department of Revenue must recalculate the 2010 unemployment tax rates. The minimum rate is an approximate figure until the rates have been recalculated.

Resources

Read the full text of the bill passed on March 2, 2010.

Read more about unemployment tax.

ATTENTION QUICKBOOK USERS:  Load all updates and confirm the FL Unemployment Tax Payroll item wage base is $7000 after the update is done.  If you need assistance, please call your Client Service Manager at (813) 286-7373.

 


Heidi Wisneski, Adm. Assistant
C&L Value Advisors LLC

 

 

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