TWC lowers UI tax rate for employers

The Texas Workforce Commission (TWC) announced the average unemployment insurance (UI) tax rate for all employers will be 1.16% for calendar year (CY) 2023. Last year, the average tax rate was 1.35%. The minimum tax rate is paid by more than 370,000 employers, which represents 61.5% of experience-rated employers. The minimum UI tax rate paid by Texas employers in CY 2023 will be 0.23%...