Effective July 1, the FUTA (Federal Unemployment) rate decreased from .8% to .6%. For those employees that have already been paid $7,000 or more prior to July 1, 2011, this has no effect to the employer for 2011. If an employee had not yet been paid $7,000, the remainder of the year will be taxed at .6%. The wage base of $7,000 is unchanged. However, Florida is one of the states that have taken a loan from the federal government to pay its unemployment. Because of this, in November, Florida businesses could have a .3% increase. If you need assistance with these confusing issues in regard to your payroll, please contact me.
