2025 Tax Rates – Below is a list of the major states that recently issued their 2025 Tax Rates, bringing the total number to 24 states.
California – Issued 2025 Tax Rates on October 31. Rate schedule remains unchanged, with a minimum rate of 1.50% and a maximum rate of 6.20%.
Colorado – Issued 2025 Tax Rates on November 25. The minimum tax rate is now 0.81% with a maximum rate of 12.34%.
Illinois – Issued 2025 Tax Rates on December 2. The minimum rate is 0.75% with a maximum rate of 7.85%, lower than 2024.
Indiana – Rates are currently available online with a mail date of January 3, 2025. Rate schedule remains unchanged, with a minimum rate of 0.50% and a maximum rate of 7.40%.
Minnesota - Issued 2025 Tax Rates on December 11. The minimum rate is 0.52% with a maximum rate of 9.865%. For the first time since 2021, the state is including an “Additional Assessment” to the tax rate calculation, which is 5.00% of the UI Taxes due.
Missouri - Issued 2025 Tax Rates on November 29. The minimum rate is 0.00% with a maximum rate of 5.40%, the same as 2024.
Ohio – Issued 2025 Tax Rates on November 14. The minimum rate is 0.50% with a maximum rate of 10.20%, a 0.40% decrease from 2024.
FUTA UPDATE – 2024
California and New York currently have outstanding FUTA Title XII Loans for 2024 and have failed to pay back the loans by November of 2024. Employers will have to pay an additional 0.90% on employees reported in these states retroactively to January 1, 2024.
1. Employers have until January 31, 2025 to pay the additional 0.90% on employees in these two states.
2. The Additional 0.90% would result in an estimated increase of $63 per employee for 2024 (0.90% * $7,000 FUTA Wage Base).
Total FUTA Rate will be 1.50% in these states for 2024. Virgin Islands is 4.80%
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