OCR Text |
Show Employers Told Of $10,000,000 Saving In Utah According to the Industrial Commission of Utah, Department of Employment Security, employ- i ers in the State of Utah have been saved approximately $10,-000,000 $10,-000,000 in contributions since July 1, 1947. These reductions were made possible through adoption of a tax-saving formula which was written in the Employment Security Se-curity Act. Employers who desire de-sire to continue to participate in this saving must file all quarterly quar-terly contribution reports and pay all contributions owing by the 15th of February, 1950. Although it is not presentlv known what the 1950 schedule of rates will be, the 1949 schedule sched-ule was: .8 for employers in Class 1; .9 in Class 2; 1.1 in Class 3; 1.3 in Class 4, and 1.4 in Class 5. In order to be included in the rate reduction computation which classifies the employer, h? must have been subject to the Employment Security Act for the three preceding calendar years. If he meets this qualifi ration a computation is then made of the quarterly and annual an-nual variations of his payrol' during the preceding three years Based on data thus obtained ho : is placed in one of the above classifications. ' |