Client Tip for May 2018: MISSOURI UNEMPLOYMENT WAGE BASE
MISSOURI UNEMPLOYMENT WAGE BASE
The taxable wage base is the maximum amount that an employer must pay unemployment taxes on each employee. The Missouri wage base for 2018 has decreased to $12,500. The wage base for the last several years was set at $13,000 per employee. The taxable wage base can be increased by $1,000, or decreased by $500 for any year. This is based upon the average balance in the Unemployment Compensation Trust Fund for the four preceding calendar quarters. The wage base cannot exceed $13,000 or decrease below $7,000 per employee in any calendar year.
“You cannot escape the responsibility
of tomorrow by evading it today.”