Iowa SF504 modifies unemployment insurance taxes for employers by altering the calculation of taxable wages, benefit ratio ranks, and contribution.

Iowa SF504 amends the definition of "taxable wages" by excluding wages paid to employees from another state. It reduces the percentage of the statewide average weekly wage used in calculating maximum weekly benefit amounts. The bill changes the calculation of the current reserve ratio, reduces the number of benefit ratio ranks from 21 to 9, and modifies the contribution rates and contribution rate tables. Employers with higher benefit ratios will face higher contribution rates.

Iowa SF504 modifies unemployment insurance taxes for employers by altering the calculation of taxable wages, benefit ratio ranks, and contribution.

Iowa SF504 amends the definition of "taxable wages" by excluding wages paid to employees from another state. It reduces the percentage of the statewide average weekly wage used in calculating maximum weekly benefit amounts. The bill changes the calculation of the current reserve ratio, reduces the number of benefit ratio ranks from 21 to 9, and modifies the contribution rates and contribution rate tables. Employers with higher benefit ratios will face higher contribution rates.