2018 Unemployment Cost Facts for Kentucky
What do state unemployment tax (SUTA) costs, claims costs and wage base amounts mean to your organization?
These factors could mean less money for your cause.
$306 Average SUTA Cost per Employee
Factors used in calculating Kentucky employer state unemployment rates have increased; therefore increasing the average unemployment tax cost per employee by 35% since 2008 to about $306 by 2017.
Unemployment Claim Stats
$11,648 Total Maximum Benefits
A claimant can collect up to a maximum of $11,648 on a single claim in Kentucky
20.174% Unemployment Claim Overpayment Rate
Kentucky’s fiscal year 2017 unemployment claim over payment rate was 20.17% the fifth highest in the country, equaling over $61 million.
$2,200 Taxable Wage Base Increase
Kentucky’s unemployment wage base has increased. Prior to 2012, employers paid unemployment taxes on the first $8,00 of wages paid to employees. The wage base has since increased to $10,200, increasing the taxable wages on which employers pay taxes on to the state tax pool.
First Nonprofit Group provides state compliant, individually insured cost-saving options to satisfy SUTA requirements for nonprofit governmental and tribal entities. Click here or cal (312) 239-8385 to request a free, no-obligation cost savings evaluation. Evaluations include a 2019 rate projection!