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Florida Employers Face Large Increase in Unemployment Taxes

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Article Title: Florida Employers Face Large Increase in Unemployment Taxes - Source: Tampa Bay Times - 11/18/2009

Florida's high and climbing rate of claims for unemployment insurance has caused the state Department of Revenue to increase the minimum and maximum rates for employers must pay for SUTA. In addition to the rate schedule changes, the state is increasing the wage base used to calculate the tax, increasing it from $7,000 to $8,500 dollars for every Florida employee. In Florida SUTA taxes are paid wholly by the employer. Get the 2010 Florida SUTA tax rates facts sheet. - Notices of businesses' individual rates will be distributed in November and December, effective for wages paid on or after Jan. 1. The increases are needed to replenish the state's trust fund used to pay unemployment insurance benefits. Under state law, if the fund falls below 4 percent of the total taxable payroll in the most recent fiscal year, it automatically triggers an adjustment in unemployment tax rates.