During the month of January, 2015, all Florida employers who are registered with the Florida Department of Revenue will receive a Notice RT-20 by mail listing their 2015 reemployment (unemployment) tax rate. This tax rate will be effective for all wages paid on or after January 1, 2015.
Florida employers will not incur a reduction in the amount of credit they can take against their 2014 Annual Federal Unemployment Tax due January, 2015 since Florida paid back its outstanding Federal loans in 2013.
Florida reemployment rates for 2015 are (effective January 1, 2015):
Minimum rate: .0024 or $16.80 per employee
Maximum rate: .0540 or $378.00 per employee
The State of Florida pays reemployment assistance benefits to qualified claimants using funds from the Florida UC Trust Fund, which is funded by the reemployment tax (formerly unemployment tax) paid by Florida employers. Florida employees do not pay into this fund.
For 2015, the taxable wage base decreases from $8,000 to $7,000. This means that a Florida employee is only taxed on the first $7,000 of wages paid in 2015. Reemployment tax is calculated by multiplying the employer tax rate by the taxable wages for each quarter, up to $7,000 per employee. This tax is reported on Form RT-6, which is due quarterly as follows:
1st quarter of 2015 – due April 30, 2015
2nd quarter of 2015 – due July 31, 2015
3rd quarter of 2015 – due October 31, 2015
4th quarter of 2015 – due January 31, 2016
As an CPA/small business advisory firm, we mentor small business owners to empower them with the knowledge and skills to run a successful business. Allow us to evaluate your small business needs today. Give us a call at (727) 391-7373 or contact us at http://www.LStortzCPA.com