Illinois Ranks 43rd On Unemployment Insurance Taxes

From The Center Square:

Illinois finished 43rd in a new study by the Tax Foundation that ranked which of the 50 states have the most business-friendly unemployment insurance tax structures.

The state’s ranking reflected a drop of three positions from its 2020 ranking, according to the foundation’s analysis, which is part of a wider study titled “2021 State Business Tax Climate Index.”

All states and the District of Columbia have unemployment insurance tax systems, which are federal-state programs that fund benefits to newly unemployed workers. Levies on employers fund the systems.

In the foundation’s analysis, those state tax systems that have low minimum and maximum rates, stick closely to the federal taxable pay levels ($7,000 in base pay), and don’t impose more surtaxes or additional benefits were rated the highest.

The Tax Foundation study rated the District of Columbia, but its ranking and score are separate from the 50 states.

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