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Presidential Proposed Budget 2015 – Expand Federal Unemployment Tax Act (FUTA) Base

by | May 7, 2014 | Tax and Accounting Desk

A proposal in the 2015 presidential budget would raise the FUTA wage base in 2017 to $15,000 from $7000, and reduce the net Federal UI tax from 0.8 percent (after the proposed permanent reenactment and extension of the FUTA surtax) to 0.37 percent. States with wage bases below $15,000 would need to conform to the new FUTA base.

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