Virginia sets its 2021 contribution rates

By Payroll and Entitlements Editorial Staff

For 2021, the fund balance factor is 50%, the pool cost charge is 0.03%, and the fund building charge is 0.20%. For 2021, tax rates range from 0.33% to 6.43%, including the pool cost charge and the fund building charge. The new employer rate is 2.73% for 2021. In 2021, foreign contractors and delinquent and nonrated employers pay 6.43% (VEC Communication).

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