Monday, July 12, 2010
Unemployment Tax Rate Skyrockets
A Clemmons and Company’s client had the lowest possible unemployment tax rate. Due to the down economy a lay off was necessary for ONE employee. Florida Department of Revenue raised the business unemployment rate from the lowest possible to the highest rate in one quarter. Throughout all of my years of doing unemployment tax returns, I have never seen a rate increase so drastically for one employee to receive benefits in such a short period of time. To receive clarification/explanation, I contacted the Florida Revenue Department. The Revenue Agent reply was that this is what the department is currently doing being that the State’s Unemployment Fund is depleted. Feel free to contact Clemmons and Company to discuss ways to maintain a low tax rate.