60°F
Sponsored by

Missouri Employers to Pay More for Unemployment Insurance in 2014

MISSOURI -- Missouri is one of 14 states in which employers will pay higher unemployment taxes in 2014 as a result of a debt to the federal government.
MISSOURI -- Missouri is one of 14 states in which employers will pay higher unemployment taxes in 2014 as a result of a debt to the federal government.

Missouri began borrowing federal money in 2008 to pay unemployment insurance benefits the state trust fund was not able to cover. The debt remained outstanding after two straight years, so Missouri’s employers have lost Federal Unemployment Tax Act tax credits that count toward the tax assessed for unemployment insurance.

The Missouri Chamber of Commerce and Industry says businesses will have to pay $63 per employee next year, an increase from $42 per employee being paid against that debt.

Missouri owes $308 million to the federal government according to the Chamber.

Page: [[$index + 1]]
comments powered by Disqus