If you live in Oregon, you should be getting a letter in the mail from the State of Oregon Employment Department. Within that letter it will have a title “NOTICE OF UNEMPLOYMENT INSURANCE (UI) TAX RATE”. Please click the SUI Tax Rate link for an example.
The specific rate each employer will pay under the unemployment tax rate schedule depends on how much they have used the unemployment insurance system. Your state unemployment tax rate will fluctuate from year to year for several reasons. One factor being the length of time you have been in business, while another is the number of claims filed by former employees.
Movement between the schedules of tax rates is one of the self-balancing aspects of Oregon’s unemployment insurance trust fund law. Each schedule has a range of tax rates based on an employer’s previous unemployment insurance experience. Employers with more unemployment insurance claims have a higher tax rate than those with fewer claims.
When you get this, you’ll want to forward it to your payroll specialist. If you don’t have one, or they don’t know what to do with it (which they should…), contact me, your Sherwood Payroll and Portland Payroll Specialist!
Licensed Tax Consultant (35289-C)
Hill Tax, Consulting & Financial Services
Sherwood | OR | 97140 | 503.330.4164