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Unemployment taxes drop for business 

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Florida businesses will start paying lower reemployment taxes in January, due to the higher number of employed Floridians this year. The minimum tax rate will be cut more than 50 percent from the current rate of $16.80 per employee to $7.00 per employee in 2016.

The $7 per employee minimum tax rate for 2016 is down from a high of $120.80 per employee in 2012. In just four years, Florida businesses have had their reemployment tax reduced by more than 94 percent.

Florida businesses pay the reemployment tax as a percentage of the first $7,000 in wages for each employee. In October, Florida’s unemployment rate dropped to 5.1 percent, less than half the December 2010 rate and the lowest rate in seven years.


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Chiefland Citizen | circulation@chieflandcitizen.com | 352-493-4796
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