Unemployment Insurance Premium Unlikely to Drop
SACRAMENTO Nov 22 James C Bryant state employment director announced that unemployment insurance taxes will likely stay the same next year. The law provides two tax schedules and a lower rate if the unemployment fund ends the year at 7 percent of total taxable wages. Bryant said this year’s balance would be about 558 440 000 and 10 percent short of the lower-rate target with total wages near 7 557 400 000. 7 percent of that equals 568 305 000.