§ 28-43-7 - Taxable wage base.
SECTION 28-43-7
§ 28-43-7 Taxable wage base. – (a) The taxable wage base under this chapter for the tax year beginning January1, 1999, and all subsequent tax years shall be:
(1) Twelve thousand dollars ($12,000) if the amount of theemployment security fund, not including any federal disbursements made to thestates pursuant to 42 U.S.C. § 1103, is more than two hundred twenty-fivemillion dollars ($225,000,000);
(2) Fourteen thousand dollars ($14,000) if the amount of theemployment security fund is more than one hundred seventy-five million dollars($175,000,000) but less than or equal to two hundred twenty-five milliondollars ($225,000,000);
(3) Sixteen thousand dollars ($16,000) if the amount of theemployment security fund is more than one hundred twenty-five million dollars($125,000,000) but less than or equal to one hundred seventy-five milliondollars ($175,000,000);
(4) Eighteen thousand dollars ($18,000) if the amount of theemployment security fund is less or equal to than one hundred twenty-fivemillion dollars ($125,000,000) but more than seventy-five million dollars($75,000,000); or
(5) Nineteen thousand dollars ($19,000) if the amount of theemployment security is less than or equal to seventy-five million ($75,000,000).
(b) The taxable wage base shall be determined by the amountof the employment security fund on September 30th of each calendar year andthat taxable wage base shall be effective for the tax year immediatelyfollowing the determination date.