SUTA
Business & Finance abbreviation · Tax
| Stands for | State Unemployment Tax Act |
|---|---|
| Categories | Business & Finance |
SUTA stands for State Unemployment Tax Act, a tax abbreviation.
State payroll tax that funds unemployment benefits, paid by employers at a rate each state assigns based on industry and layoff history and applied to a state-set wage base. Alaska, New Jersey and Pennsylvania also take a small contribution from employees.
Example: New employers in our state start at a 2.7% SUTA rate until they build a claims history.
Usage notes
Also called state unemployment insurance (SUI), or reemployment tax in Florida. Because former employees' benefit claims raise the employer's future rate under "experience rating," employers have an incentive to contest improper claims. Wage bases range from the federal minimum of $7,000 to more than $70,000 in some states.
Related abbreviations
More tax abbreviations
- SDI – State disability insurance
- SDLT – Stamp Duty Land Tax
- SECA – Self-Employment Contributions Act tax
- SIT – State income tax
- SS-4 – Application for Employer Identification Number (IRS Form SS-4)
- SSA-1099 – Social Security Benefit Statement (Form SSA-1099)
- TDS – Tax deducted at source
- TFN – Tax file number
- TIN – Taxpayer identification number
- UTR – Unique Taxpayer Reference
- VAT – Value-added tax
- W-2 – Wage and Tax Statement (IRS Form W-2)