Texas state unemployment tax to be partially suspended — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily

Texas state unemployment tax to be partially suspended

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Gov. Rick Perry announced on March 10 that the state’s unemployment insurance replenishment tax will be suspended for one year.

The replenishment tax constitutes one of three parts of the overall unemployment tax. As a result of the suspension, about 370,000 affected businesses should see a tax savings of approximately $90 million.

The suspension of the 0.12% replenishment tax comes on the heels of two other unemployment tax breaks.

According to Krista Piferrer, a spokeswoman for Perry, the tax reduction is due to a healthy Texas economy and low unemployment rate. “On the national front, we’re aware that the economy is cooling … but here in Texas we’re still doing quite well,” she said.  

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