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Unemployment insurance tax rate table unchanged for 2022


The unemployment insurance tax rates for Iowa employers will remain unchanged for 2022, according to a release from Iowa Workforce Development. The tax rates used to fund  unemployment benefits will be the second-lowest allowed by law. “Remaining in Tax Table 7 ensures Iowa businesses will continue to recover from the pandemic without facing additional costs,” Beth Townsend, the agency’s director, said in a prepared statement. Iowa law requires Iowa Workforce Development to establish a table to determine the unemployment tax rates that will affect eligible employers each year. The unemployment insurance rate table trigger is derived from a formula based primarily on the balance in Iowa’s unemployment insurance trust fund, unemployment benefit history, and covered wage growth. Based on this formula, contribution rates will continue to be drawn from Table 7 (out of eight possible tables) in 2022.

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