Futa

Futa
Futa The reason for the proposed increase, the state unemployment funds are dwindling and the tax increase to solve the unemployment levels problem.High have exhausted unemployment trust fund of several states. Accordingly, States have signed $ 40 billion in federal loans so they can continue paying unemployment benefits.The Obama proposes government wage base for unemployment the Federal Tax Act (FUTA) taxes employers pay increase from $ 7,000 to $ 15,000. Under the proposal, an employer contribution per employee FUTA maximum increase of $ 434 to $ 930. If approved, the increase would take effect in 2014.