Unemployment taxes for employers can be a headache and according to Mike Seney, senior vice president of operations with The State Chamber, “a significant business expense.”
The tax works as follows:
Employers pay into the trust fund based on a ratio set by the Legislature. Fewer unemployment claims generally mean lower unemployment insurance tax rates for employers the next year. It also means there's more money available for unemployment benefit checks.
Unemployed Oklahomans will see a slight boost in weekly check amounts for 2007. The maximum benefit for 2006 was $317 a week but for 2007 that maximum has reached $342 a week. Any little extra for an unemployed person can mean the difference between eating and not. In addition “it will be easier for some low-wage workers to qualify for unemployment benefits under the rate changes for 2007.”
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