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Vermont Business Magazine The Vermont Department of Labor Unemployment Insurance (UI) program has announced that the state’s UI contribution rate will index up to Tax Schedule III and the maximum Weekly Benefit Amount (WBA) will increase to $583 per week. Both changes take effect today, July 1, 2021, and are in accordance with existing state statute.
The UI tax structure for Vermont’s “covered” employers is calculated annually and is adjusted to ensure solvency of the UI benefit trust fund. Under Act 51 of the 2021 legislative session, the tax rate calculation was adjusted in order to provide measured relief to employers. This adjustment ensured the UI tax schedule only increased by two levels, from Schedule I to Schedule III.