Client Tip for January 2019: LOWER MISSOURI UNEMPLOYMENT TAXES
LOWER MISSOURI UNEMPLOYMENT TAXES
For the second year in a row, Missouri employers will see a decrease in their unemployment taxes. The Missouri taxable wage base (TWB) will decrease from $12,500 to $12,000. The TWB is the amount of wages, per employee, that an employer must pay unemployment taxes on in a calendar year. Also, the rate that companies will have to pay is decreasing. Most companies will see a 12% reduction in their tax rate.