Proposed FUTA Tax Change for 2015

UPDATE (01/05/2015): The rate for 2015 is unchanged at .6% (6% minus 5.4% credit). See theIRS Publication 15: Employer’s Tax Guide on page 35 for more information on FUTA for 2015.

Within the 2015 budget plans is a proposal to permanently bring back the pre 2011 FUTA surtax of .2%. This would take effective January 1, 2015. It would raise the current rate of .6% to .8% which would be an increase of $14.00 per year for each employee earning greater than $7000.00 per year. For an employer with 50 employees with earnings over $7000/year, they would see an increase of $700.00 in FUTA tax per year. How much would this FUTA tax increase effect you?

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