Futa Surtax Expiring Soon

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Employers pay federal unemployment taxes on employee wages at the rate of 6.2%. 6% is the permanent rate, and 0.2% is a "temporary" surtax. Perhaps the temporary tag is a misnomer - it has been in place since 1976.

The 0.2% portion is set to expire, effective July 1, 2011. In today's political environment, it would be sheer speculation whether Congress will act to extend that portion. The President's 2012 budget seeks to make the 0.2% permanent.

Please see article below.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Charles (Chuck) Rubin, Gutter Chaves Josepher Rubin Forman Fleisher P.A. | Attorney Advertising

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