Employer's rate, how determined
Each employer gets a tax rate set at the start of every year, based on their past records up to June 30 of the prior year. If the government is not ready with the new rate in time, the employer pays whatever rate they paid last year. Once the new rate is figured out, any extra money paid gets refunded, or any shortage gets collected — but no extra fees are charged on the shortage for the first 30 days after the bill is mailed.
288.113. Employer's rate, how determined. — Each employer's rate for the twelve months commencing January first of any shall be determined on the basis of the employer's through the preceding June thirtieth. In the event the has been unable to calculate the rate, or the calculation of such rate by the division has not yet become , in time to advise such employer of such rate a reasonable time before the date any may be due, the rate in effect for the preceding calendar year shall be paid by each employer and an adjustment of any shall be permitted or additional payment ed in the event of an , in connection with any different rate established for such calendar year, but no interest shall on any such underpayment until the expiration of thirty days from the mailing of such demand.
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Source & history notes
(L. 1951 p. 564 § 288.110, A.L. 1957 p. 531, A.L. 1965 p. 420, A.L. 1965 2d Ex. Sess. p. 927, A.L. 1967 pp. 396 and 401, subdiv. (1) of subsec. 1 of §288.120, A.L. 1994 S.B. 559, A.L. 1996 H.B. 1368)
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