TWC nearly tripled the unemployment tax owed by Texas employers
Read more: Local, State, Economy, Business, Community, Amarillo, Texas, Texas Workforce Commission, Texas Unemployment, Unemployment, Texas Unemployment Tax, Tax Increase, Tax, Amarillo Chamber of Commerce
AMARILLO, TEXAS -- Based on the 2009 Texas unemployment numbers, the Texas Workforce Commission have decided to nearly triple the amount of unemployment tax Texas employers will pay in 2010.
This coming year, employers will pay nearly $65 per employee; versus the $23 paid last year.
Many consider small business the key to our economy, so what impact will this increase have on businesses in our area.
The Amarillo Chamber of Commerce say, that the majority of businesses in Amarillo would be considered small, and that a large percentage only have ten or less employees.
"We have a lot of people with 10 or less employees, so we're talking about $400 a year, yeah that's a $400 increase they're paying, some of them will have to make adjustments in other areas, It's not a major tax increase in that we continue to remain one of the lower states in that tax rate," said Gary Molberg, Amarillo Chamber of Commerce.
Employers in states like Illinois, Florida, and Arkansas; pay as much as $120 per employee for the same unemployment tax.
