IL HR1317

Unemployment insurance tax is currently assessed on the first $11,000 earned by each employee, with the entire annual tax typically due in the first quarter of the calendar year.

Small and mid-market employers face a disproportionate cash flow burden paying the full year's unemployment tax upfront, while larger employers can more easily finance payments throughout the year.

House Resolution expresses belief that allowing quarterly unemployment tax payments based on accrued obligations is pro-business public policy.

Resolution encourages stakeholders in the state's unemployment insurance system to develop a revenue-neutral method to implement quarterly payments before the next General Assembly.