Minimizing Unemployment Tax Problems

Report wages and pay all taxes on time – deadlines can be extended for good cause shown (Rules 815.107(b)(3) and 815.109(f)) – set up a payment plan if necessary – timely payment of taxes enables the wages to be used to compute the tax rate, which serves to keep the tax rate lower.
Section 204.083 – that law provides for mandatory transfer of compensation experience in case of shared ownership or management between the predecessor and successor – always take this potential cost into account when negotiating the sale or purchase of another business.
Sections 204.084, 204.085, and 204.0851 – a partial transfer of compensation experience is possible (one-year deadline – Rule 815.111).
Section 204.086 – a successor entity is liable for the unemployment tax debt of its predecessor – this is another potential cost to take into account when negotiating the sale or purchase of another business.
Section 205.002 – the election to be a reimbursing employer must be timely and is effective for two years.