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    Colorado Unemployment Tax Rates 2014 and 2013

    Article ID: 2001522

    Overview

    The Colorado Department of Labor and Employment has secured a bond transaction totaling $630 million to increase the financial health of the Unemployment Insurance Trust Fund and provide relief to Colorado employers.

    Bond Repayment

    The bond interest and principal will be repaid as follows:

    Bond Interest Repayments: Bond interest will be charged only to businesses that have an experienced rating of less that +7. Beginning in September 2012, payments will be collected through a separate assessment billing similar to the Federal interest payments.

    Bond Principal Repayments: Bond principal assessment will be subject to experienced rated employers. The bond principal charge for each subject employer will be itemized on the 2013/2014 Unemployment Rate Notice, which is mailed in November.

    The Premium Surcharge, Solvency Surcharge, and Solvency Tax Surcharge Adjustment that were in effect prior to tax year 2013 are not active after December 31, 2012.

    Click here, for more information on the Bond Repayment.

    Assumptions

    You are an employer who pays wages in the state of Colorado and have an active Intuit Payroll subscription.

    Details

    Is the Bond Principal Rate being supported in Intuit's products and services?

    Intuit QuickBooks Payroll

    • Yes, QuickBooks Payroll will support this change.
    • Enter the Bond Principal Rate (Item 9 on Your Unemployment Insurance Rate Notice) in the Total Surcharge payroll item field in QuickBooks.

    Intuit Assisted Payroll

    • Yes, QuickBooks Payroll will support this change.
    • Enter the Bond Principal Rate (Item 9 on Your Unemployment Insurance Rate Notice) in the Total Surcharge payroll item field in QuickBooks.

    Intuit Online Payroll

    Before you create any 2013/2014  paychecks from your online payroll account, do the following:
     
    - Locate your Colorado state tax rate notice sent to you in November.  The notice includes your SUI and Bond Principal tax rates for 2013/2014. If you don't have a copy of your tax rate notice, contact the CDLE at 303-318-9100.
     
    - Sign in to your online payroll account and update your SUI and Bond Principal tax rates for 2013/2014:
    1. Click the Setup tab (or Employees > Payroll Setup for QuickBooks Online Payroll users).
    2. Click State Taxes.
    3. Click Change or add new rate to update your Colorado state unemployment insurance (CO SUI) rate, with a 01/01/2013 effective date.
    4. Enter your Bond Principal tax rate.
    5. Make sure that the CO UI Tax Surcharges Rates and Solvency Tax Surcharge Rates are set to 0.00% for 2013/2014.
    6. Click OK to save the changes.

    If you need additional assistance, please chat with us or call us at the numbers below:
    Intuit Online Payroll customers, call us at 866-729-2925.
    QuickBooks Online Payroll customers, call us at 888-537-7794.

    Intuit Full Service Payroll

    Your account will be updated based on the information provided by the state, effective with your first payroll dated in January 2013.

    1 comment

    Elizabeth7/24/2013

    846

    Thanks

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