Keyword Analysis & Research: illinois unemployment taxable wage limit


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Frequently Asked Questions

What is Illinois unemployment insurance (UI) tax?

If your small business has employees working in Illinois, you'll need to pay Illinois unemployment insurance (UI) tax. The UI tax funds unemployment compensation programs for eligible employees. In Illinois, state UI tax is just one of several taxes that employers must pay. Different states have different rules and rates for UI taxes.

What are the 2021 Illinois state unemployment rates and taxes?

The 2021 Illinois state unemployment insurance (SUI) experience-rated tax rates will range from 0.675% to 6.875%, an increase of 0.5% from the range of 0.625% to 6.825% for 2020. The SUI taxable wage base also increases to $12,960 for 2021, up from $12,740 for 2020. ( Illinois Department of Employment Security website.)

How often does Illinois increase the taxable wage base?

That amount, known as the taxable wage base, increases slightly every few years in Illinois. In recent years it has been slightly less than $13,000. The state UI tax rate for new employers, also known as the standard beginning tax rate, also can change from one year to the next.

Do small businesses pay Illinois unemployment tax?

If your small business has employees working in Illinois, you'll need to pay Illinois unemployment insurance (UI) tax. The UI tax funds unemployment compensation programs for eligible employees.


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