For the third straight year, Maryland employers will receive the lowest possible unemployment insurance tax rates under state law, according to Gov. Larry Hogan.
Maryland’s positive economic state, with its low unemployment and high job growth, has made the low tax rate possible. Since January 2015, Maryland has added more than 130,000 jobs, and unemployment is at its lowest since 2008. These factors have resulted in lower unemployment benefit payments, which have helped keep the rate at Table A.
“Since taking office, growing Maryland’s economy and creating jobs has been a top priority of our administration,” said Hogan. “We are committed to supporting initiatives that will help our businesses continue to thrive and succeed, which has resulted in more opportunities for our citizens and our lowest unemployment rate in nearly a decade.”
In 2018, the range of rates will be from 0.3 percent to 7.5 percent. The rate for new employers in 2018 will be 2.6 percent. Under Maryland law, an exception is the rate for new construction employers headquartered in another state, which will be 5.4 percent. The taxable wage base for 2018 will remain at $8,500.
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