LANSING, MI (WTVB) – The Michigan Unemployment Insurance Agency has told businesses in Michigan that unemployment taxes has gone down, effective at the first of this month, due to a $500 reduction in the state’s Taxable Wage Base to $9,000 even. This translates to about $16 million less in assessments this year, and $57 million if the base remains constant through 2016.
The cut comes as a result of 2011 legislation that capped the state’s Unemployment Trust Fund at $2.5 billion.
