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EDD is one of California's three major taxation agencies, alongside California Department of Tax and Fee Administration and the Franchise Tax Board. In addition to collecting unemployment insurance taxes, the department administers the reporting, collection, and enforcement of the state's payroll taxes. [2]
Unemployment insurance is funded by both federal and state payroll taxes. In most states, employers pay state and federal unemployment taxes if: (1) they paid wages to employees totaling $1,500 or more in any quarter of a calendar year, or (2) they had at least one employee during any day of a week for 20 or more weeks in a calendar year, regardless of whether those weeks were consecutive.
Currently California employers pay a federal unemployment insurance tax of 1.2% on the first $7,000 of wages per employee, but that will rise incrementally every year so long as California is in ...
Taxes under State Unemployment Tax Act (or SUTA) are those designed to finance the cost of state unemployment insurance benefits in the United States, which make up all of unemployment insurance expenditures in normal times, and the majority of unemployment insurance expenditures during downturns, with the remainder paid in part by the federal government for "emergency" benefit extensions.
In California, for example, weekly benefits are determined by the quarter in which you earned the highest amount while employed, and the weekly payment will be between $40 and $450.
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The counties with the highest unemployment rates were generally located in inland areas and had lower levels of income. Unemployment rate has reached 12.4 percent in 2010 which is highest recorded from 1976. Unemployment rates in California reached historic lows in 2000 and 2006.
Up to $10,200 of unemployment could be exempt from taxes. Millions Are About to Get Slammed with a Surprise Tax Bill – Could a $10,200 Waiver Save the Day?