The Minnesota Department of Employment and Economic Development has announced the taxable wage base for 2011. The wage base will remain at $27,000 for 2011.

New Employer Tax Rates to Increase

The tax rates for new employers will increase from 1.91% to 2.41% for new employers in non-high experience rating industries and will increase from 8.00% to 8.90% for new employers in high experience rating industries.

Federal Loan Interest Assessment Set at 2%

A federal loan interest assessment of 2% will take affect for 2011. This is calculated by multiplying the sum of the employer’s tax and “Additional Assessment” of 14% by 2%.

Find Out the Wage Base for All States by Visiting the Vision Payroll Unemployment Taxable Wage Base Page

Contact Vision Payroll if you have any questions on Minnesota unemployment taxable wage base or visit our Unemployment Taxable Wage Base page.