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Unemployment Florida Claim Your Benefits!
If you’ve recently been laid off in the state of Florida, you’re certainly not alone. The unemployment in Florida rate is roughly 11.2% and is the highest it has been since June of 1975. Not only that, Florida is a full percentage point above the national average, which stands at 10.2% currently. The construction industry, which defined the growth in Florida that we were seeing in the early-to-mid 2000′s, has been one of the hardest hit with unemployment.
If the unemployment rate wasn’t grim enough in Florida, consider that the unemployment Florida compensation benefits are among the lowest in the country. As of this writing, the maximum amount of compensation you can receive each week is $275. And that’s BEFORE taxes are taken out! However, as little as that may seem, it is something that you can easily sign up for and start receiving fairly quickly. I recommend you take full advantage of unemployment compensation because when you WERE employed, you were paying for it for others out of your taxes. unemployment florida.com
Unemployment Florida Hardest-Hit Fund Offers Foreclosure Prevention Support for Unemployed
The Florida Hardest-Hit Fund program was unveiled in the Sunshine State on April 18, 2011. The primary focus of the program is to offer foreclosure prevention assistance to residents that are unemployed or underemployed. Florida Hardest-Hit Fund is comparable to the Making Home Affordable; a government sponsored program recently under scrutiny for providing disappointing results. Initiated in 2009, Making Home Affordable set lofty goals to help as many as 4 million homeowners considered at risk for foreclosure.
Two years later, MHA has only helped about 200,000 homeowners obtain permanent loan modifications. As a real estate investor who has spent many years buying and selling distressed realty, I often receive calls from homeowners who desperately need foreclosure help and don’t know where to turn. Although Making Home Affordable has not come close to reaching goals, I am still a proponent of the program, as well as others that can help homeowners save their home and get back on track. unemployment florida.com
Unemployment Florida Payroll – Unique Aspects of Florida Payroll Law and Practice
Florida payroll has some unique aspects and conditions. Some of the details and laws are set out in this article including information concerning: tax withholding and reporting; unemployment insurance taxes and reporting; wage and hour laws; and child support withholding. Florida has no State Income Tax. There for there is no State Agency to oversee withholding deposits and reports. There are no State W2′s to file, no supplement wage withholding rates and no State W2′s to file Not all states allow salary reductions made under Section 125 cafeteria plans or 401(k) to be treated in the same manner as the IRS code allows. In Florida cafeteria plans are: not taxable for unemployment insurance purposes.
401(k) plan deferrals are: taxable unemployment purposes. The Florida State Unemployment Insurance Agency is: Agency for Workforce Innovation 102 Caldwell Bldg. 107 E. Madison St. Tallahassee, FL 32399-0211 850-488-7228 . The State of Florida taxable wage base for unemployment purposes is wages up to $7,000.00. Florida requires Magnetic media reporting of quarterly wage reporting if the employer has at least 10 employees that they are reporting that quarter. Unemployment records must be retained in Florida for a minimum period of five years. This information generally includes: name; social security number; dates of hire, rehire and termination; wages by period; payroll pay periods and pay dates; date and circumstances of termination. unemployment florida.com
The Florida state Unemployment Tax is mandated under a Florida state law that imposes an employer tax used to fund a reserve that pays benefits to the unemployed. Employers report this tax by filing an annual form with the Florida Department of Revenue. The employer is required to pay the tax in instalments during the tax year.
In 2010, about 460,000 employers were subject to this tax. The rate is determined based on each employer’s employment history over the past three years. In 2009, the minimum tax, for businesses with no lay-offs, was set to rise from $8.40 per employee to $100.30 in the year 2010 to meet the expected shortfall. This minimum rate was reset in 2010 to $25.20 instead. The maximum rate is $378. Because it was set too low, the state has borrowed $1.8 billion from the federal government during 2009-2010. Interest on the loan is $61 million. The state anticipates a special levy of $9.51 per employee to meet this interest payment. The minimum rate projected for 2011 is $72.10. unemployment florida.com
In 2010, the weekly benefit for the unemployed was $275.