Great News for Ohio Employers!
Ohio has paid off their federal debt for federal unemployment as of August 30, 2016. Since Ohio has a state unemployment fund there is a credit of 5.4 of the 6% normally charged for federal unemployment tax. Since 2012, this credit was reduced due to Ohio having an outstanding debt to the federal government. For 2016, Ohio employers will no longer have a reduced credit & their unemployment rate will return to the 0.6% after considering the credit for paying into a state unemployment fund. For many Ohio small businesses the year end additional federal unemployment tax payment has been a large expense so this is a big WIN for Ohio employers!
Should you have any questions regarding this change please contact Donna. (firstname.lastname@example.org)
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