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Texas Workforce Commission sets employer tax rates for 2018

With the continued positive economic growth in Texas, the Texas Workforce Commission (TWC) recently announced the average Unemployment Insurance (UI) tax rate for all employers will be 1.37 percent for Calendar Year (CY) 2018, dropping from 1.64 percent in CY 2017 to its lowest point since 2009.

The average tax rate for experience-rated employers is 1.20 percent for CY 2018, and is down from 1.51 percent in CY 2017. The minimum tax rate is paid by 327,483 employers, which represents 64.9 percent of experience-rated employers. For the rest of this story, see the December 28 edition of the Mount Vernon Optic-Herald.