TWC refunding unemployment tax surplus

The Texas Workforce Commission (TWC) has begun mailing $320 million in refunds to nearly 360,000 Texas employers who pay taxes into the Unemployment Compensation Trust Fund.

TWC collects Unemployment Insurance (UI) taxes from Texas employers for the Unemployment Compensation Trust fund, which funds UI benefits to workers who become unemployed through no fault of their own and who are actively seeking work.

"Texas employers have generated tremendous economic and workforce expansion," said TWC Commissioner Representing Employers Ron Lehman. "In turn, the Unemployment Compensation Trust Fund has reached a high level, resulting in these funds."

To receive the refunds, employers must meet certain requirements, including having payroll during 2007 and paying all due taxes. They must be experience rated, which means they have been in business with payroll for at least 18 months prior to Jan. 1, 2007.

Employers subject to UI taxes include those paying $1,500 in wages in a calendar quarter or having at least one employee during 20 different weeks in a calendar year.

For details on TWC cal (512) 463-8556 or visit www.texasworkforce.org.