Iowa HF980 modifies unemployment insurance taxes for employers by changing the calculation of taxable wages and benefit ratio ranks.

Iowa HF980 amends the definition of "taxable wages" to exclude wages paid to employees from another state if that state extends a like comity to Iowa. The bill also changes the calculation of the current reserve fund ratio, reducing the number of benefit ratio ranks from 21 to 9. It modifies the contribution rate tables, reducing the number of possible tables from eight to four and changing the contribution rate designations from numbered to lettered. Employers are assigned a benefit ratio rank based on their taxable wages, which determines their contribution rate for the year.

Iowa HF980 modifies unemployment insurance taxes for employers by changing the calculation of taxable wages and benefit ratio ranks.

Iowa HF980 amends the definition of "taxable wages" to exclude wages paid to employees from another state if that state extends a like comity to Iowa. The bill also changes the calculation of the current reserve fund ratio, reducing the number of benefit ratio ranks from 21 to 9. It modifies the contribution rate tables, reducing the number of possible tables from eight to four and changing the contribution rate designations from numbered to lettered. Employers are assigned a benefit ratio rank based on their taxable wages, which determines their contribution rate for the year.