2/18/2024 0 Comments Sc unemployment tax forms![]() ![]() The department must promulgate regulations regarding the methodology by which the allowed prepayment amounts will be calculated and the manner in which they will be credited to the employer's account. General rate of contribution.Įach employer shall pay contributions equal to the tax rate assigned to rate class twenty except as may be otherwise provided in Chapters 27 through 41 of this title. The 2011 amendment in subsection (1)(a) substituted "sum" for "average", "sum of the employer's" for "employer's average", and "for" for "during" in the first sentence, substituted "one calendar quarter" for "four calendar quarters" in the second sentence, and substituted "using data for quarters filed through June thirtieth of the current year" for "on July first" in the third sentence and in subsection (B) in the first sentence substituted "sum" for "average", "sum of the employer's" for "employer's average", and "for" for "during", in the second sentence substituted "one calendar quarters" for "four calendar quarters", and in the third sentence substituted "using data for quarters filed through June thirtieth of the current year" for "on July first". (4) "Statewide average interest surcharge" means the amount of income projected to be needed to pay interest on outstanding federal advances during the upcoming calendar year divided by the estimated taxable wages for the upcoming calendar year. ![]() (3) "Statewide average required rate" means the amount of income projected to be needed by the unemployment insurance trust fund for the upcoming calendar year divided by the estimated taxable wages over the same period rounded to the sixth decimal place. ![]() (2) "Department" means the Department of Employment and Workforce. The benefit ratio must be calculated annually using data for quarters filed through June thirtieth of the current year to the sixth decimal place. If fewer than twelve but more than one calendar quarters of data are available, the data from those available calendar quarters shall be used in the calculation. (b) from January 1, 2014, the number calculated by dividing the sum of all benefits charged to an employer during the twelve calendar quarters immediately preceding the calculation date by the sum of the employer's taxable payroll for the same period. The benefit ratio must be calculated annually using data for quarters filed through June thirtieth of the current year to the sixth decimal place If fewer than forty but more than one calendar quarter of data are available, the data from those available calendar quarters shall be used in the calculation. (a) for the period of January 1, 2011, through December 31, 2013, the number calculated by dividing the sum of all benefits charged to an employer during the forty calendar quarters immediately preceding the calculation date by the sum of the employer's taxable payroll for the same period. ![]()
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