Tennessee Unemployment Taxes (SUTA) to Decline in 2018
The Tennessee Dept of Revenue notified employers that the State Unemployment Wage Cap will be reduced from $8,000 to $7,000, thus reducing the amount of state unemployment payroll taxes employers will pay in 2018. Good news!

The ATA system from Time & Pay helps your business make a return on investments

The Wage Cap is the amount of wages paid to employees that are subject to State Unemployment Taxes (SUTA). Tennessee uses the size of the Unemployment Trust Fund to determine the Wage Cap. In 2008-09 when unemployment was high, thus resulting in significantly greater disbursement of unemployment benefits, the Trust Fund balance was reduced to a level that required the wage cap to be increased to $9,000. As the economy improved, the Trust Fund balance grew thus allowing the state to lower the Wage Cap to $8,000 a few years ago and now $7,000. This is the lowest the Wage Cap will go.

For employers paying the standard tax rate of 2.7%, this new Wage Cap will result in a $27 annual savings per employee. Each employer’s savings will be dependent on their SUTA tax rate.
About Time & Pay:

Time & Pay is a professional payroll service provider located in Johnson City, TN. We service businesses of all sizes and types throughout the United States. Founded in 1992, Time & Pay provides businesses with complete payroll services , guaranteed payroll tax compliance, automated time and attendance systems and services, pay-as-you-go worker’s comphuman resource management systems and services, ACA compliance and more. We provide our customers with the cost effective tools you need to better manage your payroll, your employees and your business. Time & Pay’s services guarantee you will save money, time and aggravation and we back them up with the customer service you expect and deserve. Contact Us today to learn why business owners throughout the country are saying:

“Time & Pay! Why would you do payroll and timekeeping any other way?”

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