Commissioner Michael Thurmond Announces 2009 Unemployment Tax Update
I am please to announce that experience-rated Georgia employers with positive reserve accounts will benefit from $25million in unemployment insurance (UI) tax savings in 2009. The $25 million reduction will follow the $100 million tax cut provided in 2008, bringing total employer tax since 1999 to over $1.7 billion. This much needed tax relief will help protect existing jobs and stimulate new hiring.
Fueled by increasing job losses, home mortgage foreclosures and the credit crises. The ongoing recession has driven up the number and cost of unemployment claims in 2008. In order to protect UI Trust Fund solvency, experience rated employers who sustained significant layoffs and those employers with negative reserve accounts may see a modest increase in their premiums, Actual premium cost are determined by historical experience factors that include an employer's account balance, benefit charges incurred, number of insured employees, average annual payroll and applicable taxes.
2009 Tax Rate Update
2009 Tax Rate FAQ
