Unemployment Tax for Florida Business Skyrockets
Wednesday, November 18, 2009
By: Tom Parkinson

The minimum unemployment tax payment for Florida businesses will jump from $8 dollars to more than $100 dollars per employee next year. State Department of Revenue officials said Wednesday that the hike is due to the state's high jobless rate - 11 percent in September. The Department says the increases are needed to replenish the state's Unemployment Compensation Trust Fund. It dropped from more than $1.3 Billion dollars last year to zero in August. Florida then began borrowing $300 million dollars a month from the federal government to pay unemployment benefits.