Employers getting $148 million in state refunds - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Employers getting $148 million in state refunds

AUSTIN (AP) - Texas employers will get $148 million in refunds due to a surplus in the state unemployment insurance fund.

Employers pay into a fund used to compensate unemployed workers.

That fund has reached about $1.7 billion, or 738 million above the minimum level required by state law -- leading to refunds.

Details came today from the Texas Workforce Commission in Austin.

The agency says an estimated 360,000 employers would receive refunds averaging about $400.

The commission says most employers will also pay lower unemployment taxes this year.

To get a refund, employers must have 2008 payroll expenses, have had such expenses since at least early 2007, and be paying all taxes.

Employers subject to unemployment insurance taxes include those paying $1,500 in wages in a quarter or having at least one employee in 20 weeks of a calendar year.

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