Thursday, 15 January 2015 11:55

Reemployment Tax Rates Drop for 2015

Once again, our prior year lobbying efforts have resulted in lower Reemployment Tax Rates for the 2015 calendar year. The minimum tax rate will drop to $16.80 per employee, which is a $30.40 per employee tax saving. Back in 2012 the Florida Retail Federation and other business organizations lobbied the Florida Legislature to make certain adjustments to the repayment schedule to the Unemployment Compensation Trust Fund and to the taxable wage base for 2013. Our assertions, that certain adjustments were needed to lessen the burden of taxation on businesses during the great recession, were accurate projections and now we can see the tax rate falling significantly as we predicted would occur.

The Florida Department of Revenue is in the process of distributing individual tax notices to each covered business during the month of January 2015 for wages paid on or after January 1, 2015.

Please see the 2015 TAX RATES FACT SHEET below:

2015 Reemployment Tax Rates Fact Sheet

  • The State of Florida pays reemployment assistance benefits to qualified claimants using monies from the UC Trust Fund, which is funded by the reemployment (formerly unemployment) tax paid by Florida employers; Florida employees do not pay into the fund.
  • The taxable wage base decreases to $7,000 for 2015. Reemployment tax is calculated by multiplying the tax rate by the taxable wages for the quarter.
  • 2015 Tax Rates (effective January 1, 2015)
    • Minimum rate: .0024 or $16.80 per employee
    • Maximum rate: .0540 or $378.00 per employee
    • (The 2015 rate is based on annual salary up to $7,000 per employee)
  • 2014 Tax Rates (effective January 1, 2014)
    • Minimum rate: .0059 or $47.20 per employee
    • Maximum rate: .0540 or $432.00 per employee
    • (The 2014 rate is based on annual salary up to $8,000 per employee)
  • Notices of reemployment tax rates for each employer will be distributed in January 2015 and are effective for wages paid on or after January 1, 2015.
  • No FUTA Tax Credit Reduction: Employers will not incur a reduction in the amount of credit they can take against their 2014 Annual Federal Unemployment Tax due January 2015 since Florida paid off its outstanding federal loans in 2013.

To download the 2015 Reemployment Tax Rates Fact Sheet, please click.

Please contact Randy Miller if you have any questions (850.222.4082).

Thursday, 18 December 2014 19:00

Bad Debt Tax Collection

We support efforts to increase the current 64% refund level of the sales taxes remitted related to bad debts to 100% of the remitted taxes on debt that has gone bad on a private label credit cards. This is a continuation of the legislation that passed in 2014, which allows for sales taxes remitted on private label credit card bad debts to be refunded in the same manner as the taxes refunded on bad debts resulting from revolving or installment sales credit transactions.
Published in Taxes
Thursday, 18 December 2014 19:00

MainStreet Fairness

We continue to support legislation that would create an equal playing field for brick and mortar retail businesses who collect sales tax and provide jobs in Florida.
Published in Taxes
Thursday, 18 December 2014 19:00

Workers Compensation Reform

The outcome of several recent Florida Supreme Court cases could have significant impacts on the future of Florida’s Workers’ Compensation system. We support system reforms that will allow Florida to continue to have to provide reliable and fair benefits to injured workers while also providing consistency and predictability in premiums for employers.
Published in Taxes
Thursday, 18 December 2014 19:00

Commercial Rental Tax Modification

Florida is the only state that assesses a sales tax on commercial real estate leases. The sales tax on commercial leases is assessed at six percent. The Florida Retail Federation supports efforts to repeal the tax, reduce the tax rate, modify the taxable base, or any combination thereof, in order to lessen this tax burden.
Published in Taxes
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