Accounting Articles > Illinois Unemployment:
What does it mean when I am responsible for the unemployment?
An employer is automatically given a percentage rate for the unemployment compensation upon the start up of his or her business. Once a former employee begins to collect unemployment, the department will re-adjust the tax rate.
For example, if your company does not have any unemployment claims paid, then the percentage rate will very possibly go down and you will pay less in tax. But, if you begin to have former employees being paid unemployment, then your percentage rate for this tax will probably increase.
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