14 Eyl Businesses hit hard by the recession
Businesses hit hard by the recession during the past two years are in for the tax system version of a follow up sucker punch in 2010. In 35 states, the rate for unemployment taxes will rise (automatically, in most cases) due to the heavy toll absorbed by the state trust funds for the payment of unemployment benefits. Their trust fund balances and current rates of tax are insufficient to cover their ongoing costs for unemployment compensation (UC).
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