Colorado’s taxable wage base for 2015 will increase $100 over 2014 to $11,800. In other words, Colorado collects a percentage tax on the first $11,800 of wages paid to each employee in Colorado. This tax varies based on how long the employer has been part of the system, how many of the employer’s former employees have filed for benefits, and by the overall health of the state’s unemployment fund.
For 2015, Wyoming’s taxable wage base will be $24,700, an increase of $200 over 2014’s taxable wage base. Finally, Montana’s taxable wage base will increase $500 over 2014 to $29,500.
Most employers contribute to their state unemployment fund through taxes based on wages paid to employees, up to a state taxable wage base. This creates a fund which pays benefits to workers who find themselves unemployed through no fault of their own.
Employers are also liable for federal unemployment taxes, based on the wages they pay to their employees, up to a taxable wage base of $7,000.