More than 80 percent of the state’s employers will have lower or stable unemployment tax rates in 2014 compared to 2013, the Washington Employment Security Department said Tuesday.
Of the state’s roughly 170,000 taxable employers, 29 percent will have lower rate classes and 53 percent will remain in the same rate class as 2013, Employment Security said. Another 18 percent will enter a higher rate class due to their layoff history over the past four years.
By comparison, in 2013, 14 percent of employers moved into lower rate classes, 61 percent stayed the same and 25 percent paid higher rates.
There are 40 rate classes altogether, ranging from 0.14 percent to 5.82 percent for most employers. The total tax rate for each rate class will remain the same as in 2013. Unemployment taxes will be assessed on the first $41,300 of each employee’s earnings in 2014. These taxes are paid entirely by employers, with no employee contribution into the unemployment trust fund.
