Unemployment Compensation Tax Relief Passes Legislature
Today, the Florida Legislature passed a critically important measure concerning Unemployment Compensation Tax Relief for all Florida employers. The measure, HB 7027 by Representative Doug Holder (R-Sarasota), passed the Florida Senate by a vote of 39-1 and the Florida House by 108-11.
Without this action, taxes were scheduled to increase by approximately $100 per employee this year. This action mitigates that increase to only a $50 per employee increase, which will apply to all employers. This tax relief is achieved by two important measures:
- Lowering the wage base from $8,500 to $8,000; and
- Extending the period of time over which the state will collect funds to replenish the unemployment compensation trust fund to a surplus level.
AIF salutes the strong leadership of Senator Don Gaetz (R-Destin)and Representative Will Weatherford (R-Wesley Chapel), without whose commitment to Florida's business community this important measure would not have even been considered by the Legislature this session. We further commend Senator Ellyn Bogdanoff (R-Ft. Lauderdale)and Representative Doug Holder (R-Sarasota), the respective Senate and House sponsors, for making this such a high priority this session.