TDLWD Says TN Employers Saving Money In 2018; Taxable Wage Base Restored To Pre-Great Recession Level

Thursday, January 4, 2018

On Jan. 1, Tennessee employers began paying less in unemployment insurance premiums when the taxable wage base decreased from $8,000 to $7,000.

The taxable wage base is the annual amount of wages paid to an employee, which is subject to state unemployment tax.

“This will amount to a tremendous savings for each and every Tennessee employer,” said Department of Labor and Workforce Development (TDLWD) Commissioner Burns Phillips.  “They pay taxes into the state’s unemployment insurance trust fund and this will greatly reduce that tax bill.”

Officials said, "During the Great Recession in 2008, Tennessee’s unemployment insurance trust fund became insolvent due to a tremendous increase in unemployment claims.  In an effort to ensure adequate funding to pay unemployment benefits, state lawmakers passed legislation that increased Tennessee’s taxable wage base from $7,000 to $9,000.  The legislation also included provisions to reduce the taxable wage base when the trust fund was restored to an adequate funding level.

"After six years at an elevated rate, in 2016 TDLWD reduced the taxable wage base from $9,000 to $8,000.  That reduction resulted in a savings for employers, while continuing to grow the trust fund balance. 

"On June 30, the unemployment insurance trust fund balance continued to remain above $1 billion, which triggered the lowering of the taxable wage base to $7,000.00, effective Jan. 1, 2018."

“Having the trust fund balance over $1 billion dollars is a milestone for Tennessee,” Comm. Phillips said.  “We weathered the recession better than many other states and now our trust fund has fully recovered from the hit it took during those difficult years.”

The Taxable Wage Base applies to all employers who pay quarterly state unemployment insurance premiums.  Tennessee uses money from the trust fund to pay qualified claimants up to 26 weeks of unemployment insurance benefits.


Local Veteran Brings TruBlue To Chattanooga

New Hamilton County Businesses

Dalton Food City Set to Open On Wednesday


Local veteran and entrepreneur Brian Winton is launching his new house care business, TruBlue of Chattanooga. TruBlue is a full-service company that provides handyman, house cleaning, emergency ... (click for more)

Here are the new business licenses from the County Clerk's office: ANOINTED INSPIRATION WORD DAPHNE WILLIAMS 3 INSPIRATIONAL LIFE COACH RETAIL SALES 1075 GREENWOOD RD CHATTANOOGA TN 37414 ... (click for more)

Shelves are stocked in preparation for the opening of the new Dalton Food City on Wednesday. The 48,600+ square foot supermarket is on West Walnut Avenue and will serve as the area’s second ... (click for more)


Business

Local Veteran Brings TruBlue To Chattanooga

Local veteran and entrepreneur Brian Winton is launching his new house care business, TruBlue of Chattanooga. TruBlue is a full-service company that provides handyman, house cleaning, emergency repairs, yard/lawn care and seasonal services for busy families, seniors and anyone who want the comforts of their own home without worrying about critical property maintenance. TruBlue ... (click for more)

New Hamilton County Businesses

Here are the new business licenses from the County Clerk's office: ANOINTED INSPIRATION WORD DAPHNE WILLIAMS 3 INSPIRATIONAL LIFE COACH RETAIL SALES 1075 GREENWOOD RD CHATTANOOGA TN 37414 ASHLEY'S TAN AND BOUTIQUE ASHLEY SULLIVAN 3 SPRAY TAN AND BOUTIQUE CLOTHING 1635 STARBOARD DR HIXSON TN 37343 BARKS AND BUBBLES AMY L JOLLAY 3 DOG GROOMING 9131 DALLAS BAY RD SODDY ... (click for more)

Breaking News

Angry City Council Wants Answers On Incident Caught On Video Of Man Being Beaten By City Police Officer; Asks DA For Independent Probe

Angry City Council members said they want answers on an incident caught on camera of a Chattanooga Police officer shown beating a man after a traffic stop. The council on Tuesday night voted to ask District Attorney Neal Pinkston to carry out an independent investigation of the incident from last March. Councilman Russell Gilbert said, "I want to see a change in our ... (click for more)

"Financial Predator" Gets 43-Year Prison Sentence In Dalton

Superior Court Judge Cindy Morris on Tuesday sentenced Cara Ann Williams (also known as Kaesarea Williams) to serve a total of 43 years without the possibility of parole on 16 total counts including aggravated identity fraud, forgery, financial transaction card theft and false statements. The sentence will run concurrent with a five-year no parole sentenced ordered by Judge ... (click for more)

Opinion

Fake News Strikes Again And Again

Two major stories exploded across the headlines this past week which confirm my opinion that the mainstream media (MSM) is biased, incompetent, and can seldom be trusted to impart the news fairly and accurately. The first instance was the BuzzFeed story regarding Michael Cohen and how he allegedly lied on President Trump's behalf to Congress. Virtually all of the big media outlets ... (click for more)

Roy Exum: Walmart vs 535 Morons

There is an anonymous paper on the Internet that tells how Walmart could do a better job running America instead of the pompous flops and duds we send to Washington. Please try to connect the dots on Walmart’s 1.6 million employees and the obscene profits that they make versus our 535 members of Congress who blow through money while “WallyWorld” churns out an average of $20-thousand ... (click for more)