Full Newsletter   Newsletter Archives




 Glossary:  ABCDEFGHIJKLMNOPQRSTUVWXYZ
Printable version 

Even though many software programs used to prepare payrolls automatically update all payroll tax information with each update, there is one tax rate that MUST be entered manually – the Ohio Unemployment Rates.


Because the Ohio unemployment rate differs for every employer, no tax table is able to handle all the various rates. Therefore, the contribution rate for 2008 must be entered manually before processing the first payroll in January in order to have an accurate SUTA accrual.


Your premium rate for 2008 can be found on the yellow Contribution Rate Determination notice sent by the Ohio Department of Jobs and Family Services the first part of November. It is particularly important for QuickBooks users to do this to avoid having to do a payroll liability adjustment before paying the first quarter's premium.   


If you have any questions, please contact your Rea advisor.


-By Babs Douglass (Marietta office)


 Save article  Email Firm  Email to a Friend
Is this item worthy of implementation? Yes No Maybe
Is this item worth sharing with other associates? Yes No Maybe
Did this item present value to you and your business? Yes No Maybe
Comments:

We take great care in the preparation of our articles and announcements. We also have a process of reviewing articles when major changes take place. The business, legal and tax climate is constantly changing especially when reviewed on an industry basis.

It may be very important to consult with us or your Investment Advisor before implementing ideas contained in articles and announcements. Many ideas have complexities and nuances that cannot be adequately detailed in the articles or announcements. We are not responsible for errors, misinterpretations or omissions related to these articles or announcements. Nor are we responsible for the applicability to your personal, business or tax situation.

Pursuant to Circular 230 promulgated by the Internal Revenue Service, if this email, or any attachment hereto, contains advice concerning any federal tax issue or submission, please be advised that it is not intended or written to be used, and that it cannot be used, for the purpose of avoiding federal tax penalties unless otherwise expressly indicated.