Tuesday, June 2, 2009

Tennessee Increases the Unemployment Insurance Tax by $100+/employee

According to Forbes, the state of Tennessee is going to be raising the taxes that imposes on employers in order to fund the state's unemployment insurance program.

The average tax per employee will rise by ~$108/year, as the tax rate is increased 0.6 percentage points and taxable wages are increased from $7,000/year to $9,000/year---However there is a provision to lower the tax once the unemployment trust fund crosses $900 million.

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