Vermont Employers: The Vermont Department of Labor has mailed out UI Tax Rate Notices on June 23, 2017. These new rates will be effective for July 1, 2017 as the state of Vermont operates on a fiscal year for unemployment. This means that your new rates will be applied for your quarterly filing due on October 31, 2017. Below is the tax rate schedule for the 2017-2018 period. The schedule being used for this period is Schedule 4. The minimum tax rate is 1.1% and the maximum tax rate is 7.7%.
|Tax Rate Class||Schedule 4|
Keep in mind that the tax rates are not always correct on these tax rate notices. It is very important that all of the numbers in the tax rate calculation get audited. The state of Vermont has an overpayment rate just under 7% according to the DOL. If charges to your account are not closely monitored, you will see a dramatic increase on your tax rate notice!
For a no-cost analysis of your 2017-2018 tax rate notice, contact an expert at Dunn Corporate Resources. We’re always happy to help!