Florida Unemployment Tax Assessment

If you are an employer who had payroll last year, you will soon get a bill in the mail from the Florida Department of Revenue  for your allocated share of the interest expense for debt the state incurred to pay unemployment benefits. During this past recession the state had to borrow funds from the federal government in order to pay out unemployment claims. These loans carry an interest expense component which according to state law has to be paid by employers. The bills should go out in February of 2011 and will need to be paid by June 30, 2011. You can read more about all the provisions by clicking above on the hyperlink for Florida Department of Revenue.