SUTA and FUTA tax rates Each state has its own SUTA tax rates ranging from (0.65% to 6.8%) The wage base limit, or the maximum threshold for which the SUTA taxes can be withheld, also varies by state.SUTA Tax Rates for 2022 can be found here. If you’re using accounting software li...
For 2024, Texas’ taxable wage base for employees is $9,000, and the tax rates range from 0.25% to 6.25%. Assume that your company’s SUTA tax rate for 2024 is 2.7%. Using the formula below, you would need to pay $1,458 into your state’s unemployment fund: ($9,000 taxable ...
Maintain a Low Turnover Rate: States often assign lower SUTA tax rates to employers with low turnover rates, as this indicates a more stable workforce. Manage Your Experience Rate: Your experience rate is based on the number of former employees who have filed unemployment claims. Keeping this ...