The Oklahoma Employment Security Commission has confirmed that unemployment tax rates and taxable wage limits for calendar year 2021 will increase.
Effective January 1, 2021, Oklahoma’s experienced-employer unemployment tax rates are to be determined with Conditional Factor D, causing rates to range from 0.30% to 7.50%. This is an increase form 2020 where rates ranged from 0.10% to 5.50%. The new employer tax rate will remain steady at 1.50% for 2021.
Additionally, the unemployment taxable wage base is set to increase in 2021 to $24,000; up from $18,700 in 2020.
As always, if there are any questions please do not hesitate to contact us or visit our website at www.thomas-and-company.com.