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CDS - Training Seminar October 2005 Unemployment Taxes

CDS - Training Seminar October 2005 Unemployment Taxes. What is Unemployment Tax?. Tax Paid by Employers Used to Pay Benefits to Eligible Individuals Who are Out of Work Through No Fault of Their Own. Overview of the Tax Department. Conduct Wage Investigations Collect Reports and Taxes

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CDS - Training Seminar October 2005 Unemployment Taxes

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  1. CDS - Training SeminarOctober 2005Unemployment Taxes

  2. What is Unemployment Tax? • Tax Paid by Employers • Used to Pay Benefits to Eligible Individuals Who are Out of Work Through No Fault of Their Own

  3. Overview of the Tax Department • Conduct Wage Investigations • Collect Reports and Taxes • Audit Businesses

  4. Overview - Reports and Taxes • Reports are due the month after the quarter ends (January, April, July, October). • Taxes are accessed on the first $9000 in wages per employee per year.

  5. Overview - Reports and Taxes • New employers - 2.7% • $243.00 (2.7% X $9000) per employee • Minimum for 2005 is 0.58% • $52.20 (.58% X $9000) per employee • Maximum for 2005 is 8.02% • $721.80 (8.02% X $9000) per employee

  6. Overview - Managing Tax Rates • Chargebacks impact your tax rate for at least 3 years. • Respond to all communications from the Agency by the deadline. • Consider Voluntary Contributions.

  7. Overview - Managing Tax Rates • Voluntary Contributions: Voluntary payments submitted to reduce the amount of chargebacks. • Due Date: 60 days after receipt of the Tax Rate Notice.

  8. Overview -The Audit Program • Reconcile Payroll • Determine Ownership • Verify Classification of Workers

  9. Overview - Classification of Workers • Employees -Workers under your direction or control • Independent Contractors - Workers over whom you have NO direction or control • Exemptions for specific family members.

  10. On Line Tools

  11. www.texasworkforce.org

  12. Tax Information and Transactions http://www.twc.state.tx.us/customers/bemp/bempsub3.html

  13. Tax Information and Transactions For New Employers Required Data Ownership Information Business addresses Employment dates Wages paid dates Amount of wages paid

  14. Internet Registration

  15. Type of Business

  16. Important Registration Information • Scroll down on the Summary page once you have received your account number. • Select “Finalize Registration”. If you miss this step, your account number will not be registered! • When you see “Congratulations”, you have completed the registration process.

  17. Tax Information and Transactions

  18. Employer Tax Information Online (ETIO) • A system that allows an administrator to grant special permissions to different people to do different tasks within the business.

  19. ETIO Logon

  20. Select Employer

  21. Main Menu : C-3 filing

  22. Menu Selections

  23. Selecting Reports

  24. Wage Summary

  25. Pay Online • You must have permission to make payments through the security system. • You must register a bank. • You have to schedule a payment. • You may cancel or change the payment date or payment amount up until the day before the pay date.

  26. Enables Users to file more than one report at a time. • No limit on the number of employees. • Compatible with ICESA, MMREF, Comma Delimited or Fixed Length formats. • Information is available on our Website. • CD ROM version available.

  27. Important Dates • September 1, 2005 - Total and partial acquisitions result in automatic employer liability for UI Tax. • October 31, 2005 - Pay Unemployment Taxes. • December 31, 2005 - Annual Election Forms for Domestic Employers are due. • Mid February - Voluntary Contributions are due 60 days after the Tax Rate Notices are mailed.

  28. Written Authorization • Must be notarized • Required to discuss case with agent • Not required for internet access if employer authorizes the access

  29. Questions Thank you

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