The Wyoming Department of Workforce Services released its minimum Unemployment Insurance tax rate, and employers can view their Unemployment Insurance tax rates online at wyui.wyo.gov.
Due to the positive health of the UI Trust Fund, the minimum UI tax rate has decreased for the fourth year in a row. Experience rated employers (those with at least three years of history) will again see a negative fund balance factor. The minimum rate for those with a zero experience rate will be .09%.
The UI tax rate is comprised of a Base Rate or Benefit Ratio plus three Adjustment Factors. The Base Rate is assigned to employers with less than three years of experience and is based on the average rate by industry. A Benefit Ratio is assigned to employers with three or more years experience and is calculated by dividing the benefit charges by the taxable wages for the three most recent fiscal years.
UI Tax Rate Adjustment Factors include:
- Non-charged/Ineffectively Charged Factor — used to replenish the fund for benefits which are not directly charged to a specific employer’s account, or charges that are not recoverable because of the maximum rate limitation.
- Employment Support Fund Factor — used to fund special programs and to support employment office programs.
- Fund Balance Factor — to maintain the solvency of the UI fund.
An explanation of how these factors are used to compute the UI tax rate can be found at wyui.wyo.gov.
Employers have until Wednesday, Jan. 29, to file an appeal if they believe their tax rate is incorrect. Appeals can be filed online at wyui.wyo.gov, and written appeals are also accepted. Written appeals can be sent to DWS Attn: Kris Funk, Box 2760, Casper, WY 82602. Employers may also view their tax rate notice online and do not have to wait for it to arrive via postal mail.
Questions about the UI tax rate can be answered by the Unemployment Tax Helpline at 307-235-3217.