October 26th, 2016 by WCBC Radio

Governor Larry Hogan today announced that beginning in the first quarter of 2017, Maryland employers will continue to benefit from the lowest possible unemployment insurance tax rates allowed under state law. The Maryland Department of Labor, Licensing and Regulation is able to offer this advantageous rate due to declining unemployment and, consequently, lower unemployment benefit payments.

In 2017, the range of rates will be from 0.3 percent to 7.5 percent. The rate for new employers in 2017 will be 2.6 percent. An exception is the rate for new construction employers headquartered in another state, which will be 6.6 percent. The taxable wage base for 2017 will remain at $8,500.