Texas Labor Code

§ 204.061 — CEILING AND FLOOR OF COMPENSATION FUND

LA § 204.061Title 4. EMPLOYMENT SERVICES AND UNEMPLOYMENT · Part A. TEXAS UNEMPLOYMENT COMPENSATION ACT · Ch. 204. CONTRIBUTIONS · Art. D. ADJUSTMENTS TO TAX RATE FOR EXPERIENCE-RATED EMPLOYERS

Statute text

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In computing the tax rates under this subchapter:

(1)the ceiling of the compensation fund is two percent of the total taxable wages for the four calendar quarters ending the preceding June 30; and

(2)the floor of the compensation fund is equal to the greater of:

(A)$400 million; or

(B)one percent of the total taxable wages for the four calendar quarters ending the preceding June 30.

Legislative history

Acts 1993, 73rd Leg., ch. 269, Sec. 1, eff. Sept. 1, 1993.