Federal Unemployment Tax Act (FUTA) Tax Increases on Wages Employers Paid in 2013

California did not default on their loan to the Federal Government until November10, 2014, and so the tax will now be due to the Federal Government. It amounts to an additional 1.2% (.012) per employee on the first $7000.00 in annua wages,or maximum $84.00 per employee for 2014.

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2015 BUDGETING:

California Employers:  Please budget 1.5% (.015) or maximum $105.00 pe remployee for the additional tax for 2014. Once again, we will know after November 10, 2014 whether California defaults, so we leave the money with you, not us or the government until then.