Financial Services Blog

Surcharge on Kentucky Employer's Quarterly Unemployment Wage and Tax Report starting in 2014

Posted by Nathan Lindemeyer on Wed, Sep 25, 2013 @ 11:34 AM

Beginning with the first quarter of 2014, a surcharge in the amount of 0.22% of taxable wages will be assessed. This amount will vary in percentage each year as the taxable wage base increases. The taxable wage base for 2014 is $9,600. The employer's Quarterly Unemployment Wage and Tax report(UI-3) has been revised to reflect the surchargLouisville tax CPAe and has a chart on the back of the worksheet for your convenience detailing the year, taxable wage amount, and surcharge percentage.

This surcharge is a result of legislation enacted by the Kentucky General Assembly in 2012 (House Bill 495), KRS 341.614 was created to secure funds for interest payments due on outstanding loans due to the insolvency of the Unemployment Insurance Trust fund.

The information on the surcharge is also available at https://kewes.ky.gov.  

Tags: Louisville tax information, Tax news, CPA louisville ky