ACCOUNTING AND BOOKKEEPING

Small businesses in every state are required to pay into a fund for State Unemployment Insurance (SUI). This employer-funded tax provides short-term for employees who lose their jobs. The SUI rate that you pay will differ from state to state and vary according to how many of your employees apply for unemployment benefits after leaving your employ. If you are doing your payroll yourself, you will need to know how to calculate SUI rates. Depending on whether or not your state changes its rules and regulations or if your employee’s salary changes, or your own situation changes, updating your SUI rate may be necessary. | Small Business