Posts tagged Unemployment.

Businesses that have employees and pay wages and salaries must withhold federal employee income taxes and the employee's share of federal employment taxes (FICA) from these wages and salaries. The employer must "match" the employee's FICA share, and these three components then become the employer's "federal tax deposit," which the employer must electronically pay to the IRS periodically. The frequency of when federal tax deposits must be made by an employer varies (weekly, bi-monthly, monthly, etc.) depending on the amount of these federal "payroll" taxes that are due.

The ...

Many businesses are purchased in South Carolina every year. Many of these same businesses, however, have high worker unemployment claims, and are paying high South Carolina Unemployment Insurance taxes to the state to fund these claims.

South Carolina pays unemployment benefits to people that are out of work.  The state funds these benefits through a special tax on employers in the state - the South Carolina Unemployment Insurance Tax, or "UI Tax."  The more unemployment claims that are filed with the state and related to an employer, the higher the employer's UI Tax rate will be.

Where a ...

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