Maryland unemployment insurance tax to drop in 2014

Gary Haber 

Staff Reporter- Baltimore Business Journal

Maryland employers will see a drop in the state’s unemployment tax rate next year, in many cases by as much as 70 percent.

Under the lower rate, announced by Gov. Martin O’Malley and other state officials on Wednesday, employers will pay a tax rate in 2014 of between 0.3 percent and 7.5 percent on the first $8,500 of a worker’s wages. That is down from the 2013 rate, which was between 1 percent and 10.5 percent.

The lower rate goes into effect Jan. 1. The 2014 rate reduction follows a drop of as much as 55 percent in 2013.

 Read full article here from The Baltimore Business Journal