The state Department of Labor and Workforce Development released the new Experience Rates for State Unemployment Insurance (SUI) for all employers. While the rates are just being released now, the new rates are effective as of July 1, 2015.
All Tennessee employers will be soon receiving a notice defining their new SUI rates which is determined by the number of claims they have experienced this last year and the balance of their company’s SUI fund. All SUI taxes filed for at least the next two quarters must take into account this adjustment. Tennessee may make another adjustment to SUI rates at the beginning of the new year depending on the overall balance of the State’s SUI Trust Fund. (Tennessee is the only state that adjusts SUI rates twice in a calendar year.)
Unemployment tax rates for experienced employers in Tennessee are determined with Table 6 and range from 0.01 percent to 2.3 percent for positive-balance employers and from 5 percent to 10 percent for negative-balance employers.
Time & Pay verifies all Tennessee customer’s SUI rates and adjusts filings according to the Department’s rate determination.
About Time & Pay:
Time & Pay is a professional payroll service provider located in Johnson City, TN. We service businesses of all sizes and types throughout the United States. Founded in 1992, Time & Pay provides businesses with complete payroll services , guaranteed payroll tax compliance, automated time and attendance systems and services, pay-as-you-go worker’s comp, human resource management systems and services, and more. We provide our customers with the cost effective tools you need to better manage your payroll, your employees and your business. Time & Pay’s services guarantee you will save money, time and aggravation and we back them up with the customer service you expect and deserve. Contact Us today to learn why business owners throughout the country are saying:
“Time & Pay! Why would you do payroll and timekeeping any other way?”
Payroll Services in Kingsport, TN; Bristol, TN; Johnson City, TN; 423-854-9042
Payroll Services in Morristown, Greenville, Knoxville, TN 423-957-9505
Payroll Services in Cleveland, Chattanooga, TN 423-794-7855
Payroll Services in Newport News, VA 757-240-2766