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Florida’s Looming Unemployment Compensation Rate Hike is Frightening!

A huge rate increase for Florida’s employers is looming, and it had to happen.  Florida’s overburdened unemployment compensation program could not sustain the volume of claims without some sort of relief.  Florida’s Department of Revenue published a fact sheet recently that indicates a new effective unemployment compensation rate of $100.30 per employee – up from the 2009 rate of $8.40.

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One comment on “Florida’s Looming Unemployment Compensation Rate Hike is Frightening!

  1. I wonder if Florida could benefit from the approach Michigan has decided to take, Rather than imposing a one-size-fits all unemployment compensation tax rate on every firm, Michigan is applying a variable unemployment tax rate that it is calling “experience rating.” The companies with the lowest layoff rates pay a lower tax rate than firms with higher layoff rates.

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