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Unemployment taxes expected to drop for most Oklahoma employers

Lower benefit payments and a robust trust fund expected to lower unemployment taxes.
Oklahoman Published: August 6, 2014
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In brief

Taxes may fall for most employers

Most state employers can expect lower unemployment taxes in 2015, the Oklahoma Employment Security Commission said Wednesday. Tax rates for all Oklahoma employers will be dropping to the minimum rate available for that individual employer due to a stronger unemployment insurance trust fund and lower benefit payments over the past few years, the commission said. The lower rates are estimated to save Oklahoma businesses between $120 million and $130 million next year, the agency said. The commission uses the trust fund to pay regular state unemployment benefits to qualified workers. Employers pay into the trust fund based on their individual experience with the unemployment system. Businesses will be notified of their 2015 rates in September.

Associated Press