Florida Unemployment Interest Assessment for Employers

Florida borrowed funds from the federal government to pay unemployment compensation benefits. Since the loans will not be repaid by January 1, 2012, the state will have to pay interest on the funds. The law requires contributing employers to pay a proportionate share of the interest through a special annual assessment.

The Florida Department of Revenue has mailed an assessment notice (Form UCT-27Fi) to Florida employers informing them of their proportionate share. Payment is due by June 30, 2011. Click here for more information about Florida Unemployment Compensation Law.

If you have any questions or concerns, please contact me or any Kaufman, Rossin professional.

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This information is not intended or written to be used for the purpose of avoiding tax penalties and it cannot be used for that purpose. Further, this information is a general description of current tax law and is not presented as a tax opinion on any general or specific tax issue or situation. This information may not be used to promote or market any transactions stated herein. Readers are advised to seek advice from their own tax advisors if they have questions.